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‘Gauteng largest economic contributor’

Gauteng remained the largest contributor to the economy, contributing at least 35 percent to the country's Gross Domestic Product last year, finance MEC Mandla Nkomfe said on Tuesday.

“Gauteng generated 35.6 percent or an estimated R675 billion of the GDP last year, consolidating its position as a single largest contributor to the economy of the country,” Nkomfe said while presenting the 2012 Provincial Economic Review and Outlook in the legislature.

Gauteng Finance MEC Mandla Nkomfe. Picture: Timothy Bernard. Credit: INLSA

The publication is produced by the treasury and outlines the make-up of the province' economy and its outputs.

The City of Johannesburg (CoJ) generated R313 billion in 2011. It was followed by the City of Tshwane with R184 billion. Ekurhuleni generated R128 billion.

The City of Johannesburg was the fastest growing municipality in the country.

“The CoJ economy grew at an average annual growth rate of 4.4 percent between 1997 and 2011. Ekurhuleni grew by three percent during the same period.”

The economy in the West Rand was the most sluggish, with an average annual growth rate of 0.1 percent, while Sedibeng’s average annual growth rate during the same period was 1.4 percent.

Gauteng accounted for 68 percent of all exports from the country and 61.4 percent of imports.

“The data suggests that Gauteng is able to generate more money from abroad than any other province.”

China was the province' biggest trading partner.

“Last year under 15 percent of exports went to China from Gauteng and just over 15 percent of imports came from that country.”

Imported goods included computers, electrical apparatus and components for telephones and printers.

The province was also one of the biggest economic hubs in the continent, having contributed 7.7 percent to Africa's GDP last year. - Sapa

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