Economy of the Western Cape
http://dbpedia.org/resource/Economy_of_the_Western_Cape an entity of type: Thing
The economy of the Western Cape in South Africa is dominated by the city of Cape Town, which accounts for 72% of the Western Cape's economic activity in 2016. The single largest contributor to the region's economy is the financial and business services sector, followed by manufacturing. Close to 30% of the gross regional product comes from foreign trade with agricultural products and wine dominating exports. High-tech industries, international call centres, fashion design, advertising and TV production are niche industries rapidly gaining in importance.
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Economy of the Western Cape
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Main sectors as a proportion of GDP in 2021.
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GDPR growth rates in constant 2010 prices: 1996 to 2019. The 1997 Asian financial crisis, Great Recession and COVID-19 pandemic are highlighted. 2020-2022 projects
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Western Cape's GDP contribution compared to other South African provinces in 2017.
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Chart
|vAnnotatonsLine=1997.6, 2007, 2009, 2020
|vAnnotatonsLabel= Asian financial crisis, The Great Recession, , COVID-19
| width = 450
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| xType = date
| xAxisAngle = -40
| yAxisTitle = GDPR % growth rate
| xAxisTitle = Year
| xAxisMax = 1641013100000
| yAxisMin =
| yGrid = yes
| legend=Legend
| linewidth = 2
| x = 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021
| y1Title=Western Cape
| y1 = 3.6, 2.4, -0.6, 3.7, 4.1, 4.3, 4.1, 3.5, 5.6, 6.0, 5.7, 6.2, 3.9, -1.4, 2.5, 3.8, 2.8, 2.6, 2.2, 1.4, 1.0, 1.2, 0.8, 0.4, -5.88, 3, 4.1
| y2Title=South Africa
| y2 = 4.3, 2.6, 0.5, 2.4, 4.2, 2.7, 3.7, 2.9, 4.6, 5.3, 5.6, 5.4, 3.2, -1.5, 3.0, 3.3, 2.2, 2.5, 1.8, 1.2, 0.4, 1.4, 0.8, 0.2, -6.43, 5, 2.16
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Western Cape
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R72.3 billion
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300
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Agriculture
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Construction
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Manufacturing
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Western Cape
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General government services
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Community, social and personal services
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Electricity and Water
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Financial and business services
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Transport, storage and personal services
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Wholesale & Retail trade; hotels & restaurants
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Other
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- Dr Mike Herrington
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This finding [of Cape Town's entrepreneurship] suggests that Cape Town has a much higher level of knowledge, innovation and opportunity than elsewhere in the country.
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R269.58 billion ( - to national ficus)
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The economy of the Western Cape in South Africa is dominated by the city of Cape Town, which accounts for 72% of the Western Cape's economic activity in 2016. The single largest contributor to the region's economy is the financial and business services sector, followed by manufacturing. Close to 30% of the gross regional product comes from foreign trade with agricultural products and wine dominating exports. High-tech industries, international call centres, fashion design, advertising and TV production are niche industries rapidly gaining in importance. The Western Cape province had a total GDP for 2016 of R424.38 billion (equivalent to US$29.3 billion) growing from R268.26bn in 2008. In 2016 the economy grew by 2.7% with an annual inflation rate of 6.3%. The province accounts for 14% of South Africa's total GDP with Cape Town accounting for 9.9% of the country's total GDP in 2016. The Western Cape has a GDP per capita of R97,664 in comparison to the South African average of R81,875 per capita in 2017. At 19.7% the province has a substantially lower unemployment rate than the national average standing at 23.2% in 2009. In 2018 the number of unemployed people declined by 38,000 with employment rates increasing by 3.9% since 2017. Between 2013 and 2017 the province generated a disproportionately large number of jobs relative to the region's size to the rest of the country's economy; creating 23.6% of all new jobs in the country in this period. The province's Gini coefficient of 0.58 in 2010 is lower than South Africa's Gini coefficient of 0.65 (for 2011) making it more equal than the rest of the country whilst still being extremely high and unequal by international standards. The Western Cape's Human Development Index is the highest in South Africa at 0.7708, compared to the South African average of 0.6675 in 2003.
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R648.83 billion
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R88,051
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