Economy of Gauteng
From Wikipedia, the free encyclopedia
 Johannesburg, the financial capital of South Africa | |
| Currency | South African Rand (ZAR) |
|---|---|
| Statistics | |
| GDP | ZAR 2.2 trillion US$ 135 billion (2022)[1] |
| 0.62 (2007)[2] | |
Labour force | 5.1 Million (2009)[3] |
| Unemployment | 23.7% (2009)[4] |
| Public finances | |
| Revenues | R261 billion (2011/12)[5] |
| Expenses | R76.9 billion (2013/14)[6] |
- Electricity, Gas and Water (2.50%)
- Construction (4.50%)
- Wholesale, retail, motor trade and accommodation (12.6%)
- Transport, storage and communication (7.80%)
- Finance, real estate and business services (22.8%)
- Personal services (4.00%)
- General government services (16.3%)
- Taxes less subsidies on products (9.20%)
- Agriculture, forestry and fishing (0.50%)
- Mining and quarrying (3.30%)
- Manufacturing (16.5%)
- Other (0.00%)
- Gauteng (33.9%)
- Kwa-Zulu Natal (16.1%)
- Limpopo (7.00%)
- Mpumalanga (7.10%)
- Northern Cape (2.30%)
- North West Province (6.50%)
- Western Cape (14.0%)
- Eastern Cape (7.60%)
- Free State (5.50%)
The Gauteng Province's total GDP for 2022 was R2.2 trillion (US$ 135 billion), making the province the single largest contributor to South Africa's GDP with a contribution of 33%,[1] despite having only 1.4% of South Africa's land area.[8] Gauteng's Gini coefficient of 0.62 makes it more equal than South Africa (the Gini coefficient of which is 0.63 (2014)[9]) as a whole, although this is still a very high figure by international standards. The cities Johannesburg, Midrand and Pretoria, which are all economic powerhouses, and Vanderbijlpark, which is an industrial powerhouse,[10] are all in Gauteng.
Gauteng is home to the Johannesburg Stock Exchange,[11] the largest stock exchange in Africa, as well as the head offices of over 140 local and international banks.[7] Some of the largest companies in Africa and abroad are based in Gauteng, or have offices and branches there, such as Vodacom,[12] MTN,[13] Microsoft South Africa[14] and the largest Porsche Centre in the world.[15]
Gauteng was, for all intents and purposes, established with the establishment of administratively orientated Pretoria in 1855 and the establishment of Johannesburg thereafter in 1886[16] as a gold mining town. The economy of the Western Cape and Cape Town was dominant in South Africa until the mid 19th century. The establishment of Gauteng via Pretoria and Johannesburg ended this dominance for the Western Cape as economic and political power now shifted to the Gauteng region.[17]
