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The manufacturing (20,5%), trade (14%) and financial services sectors account for approximately 60% of the value added in Gauteng. They account for 52% of South Africa’s value added. The community and social services sector contributes 4% to the gross geographic product (GGP), against 2,9% for South Africa as a whole, exhibits this sector’s relative strength. The electricity, gas and water sector contributes only 1,4% of Gauteng’s value added, around half of its national contribution of 2,7%. Over the seven years to 2003, the average growth rate for the province was 3,3%. Average sectoral growth rates of 1,5% for manufacturing, 1,5% for trade and 5,3% for the financial sector were recorded. The transport and communication sector, which accounts for just under 10% of Gauteng’s value added, recorded the strongest average growth rate (5,8%). Growth in manufacturing is expected to improve over the five years beginning in 2003, averaging 3,3%. Growth rates in excess of the average are expected from the transport and communication sectors (6,7%) and the financial service sectors (5,8%). Construction, which accounts for around 3% of Gauteng’s value added, is expected to show the most dramatic improvement over the next five years. Manufacturing (26,9%), financial services (27,4%) and transport and communication (17,6%) sectors account for 72% of capital investment in Gauteng, and account for 64% of South Africa’s capital investment. The non-ferrous metals, plastics, clothing and glass and glass products are all expected to contribute to increased investment in the years to come. The province is expected to record higher capital investment growth in future (4,7%) than that recorded over the five years to 2003 (2,5%) |
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