Economy of Gauteng
{{Use dmy dates|date=April 2022}}
{{Use South African English|date=May 2013}}
{{Infobox economy
| country = Gauteng Province
| image = Johannesburg Skyline.jpg
| caption = Johannesburg, the financial capital of South Africa
| currency =South African Rand (ZAR)
| fixed exchange =
| year =
| organs =
| gdp = ZAR 2.2 trillion
US$ 135 billion (2022){{citation|title=Provincial gross domestic product:experimental estimates, 2013–2022|url=https://www.statssa.gov.za/publications/D04411/D044112022.pdf|website=www.statssa.gov.za}}
| per capita =
| poverty =
| hdi =
| occupations =
| average gross salary =
| gross median =
| average net salary =
| net median =
| industries =
| edbr =
| revenue = R261 billion (2011/12){{cite web | url=http://www.outa.co.za/site/no-to-open-road-tolling-gauteng-pays-more-than-its-fair-share/ | title=No To Open Road Tolling Gauteng Pays More Than Its Fair Share | publisher=Opposition to Urban Tolling Alliance | date=5 March 2012 | access-date=14 April 2013}}
| expenses = R76.9 billion (2013/14){{cite web | url=http://ewn.co.za/2013/03/05/Nkomfe-tables-Gauteng-budget | title=MEC tables Gauteng budget | publisher=Eye Witness News | date=5 March 2013 | access-date=14 April 2013}}
| usebelowbox = no
| presentUS$asdefault = no
|GDP Growth = 3.8% (2015 est.)|Growth in GDP = }}
{{Pie chart
|thumb = right
|caption = Main sectors as a proportion of GDP in 2010/11.{{cite web | url=http://www.gautengonline.gov.za/Business/Pages/TheEconomyofGauteng.aspx | title=The Economy of Gauteng | publisher=Gauteng Online | date=November 2010 | access-date=14 April 2013 | archive-url=https://web.archive.org/web/20130711031247/http://www.gautengonline.gov.za/Business/Pages/TheEconomyofGauteng.aspx | archive-date=11 July 2013 | url-status=dead }}
|label1 = Electricity, Gas and Water
|other = Other
|value1 = 2.5
|color1 = #800000
|label2 = Construction
|value2 = 4.5
|color2 = #FF0000
|label3 = Wholesale, retail, motor trade and accommodation
|value3 = 12.6
|color3 = #FFFF00
|label4 = Transport, storage and communication
|value4 = 7.8
|color4 = #808000
|label5 = Finance, real estate and business services
|value5 = 22.8
|color5 = #00FF00
|label6 = Personal services
|value6 = 4.0
|color6 = #008000
|label7 = General government services
|value7 = 16.3
|color7 = #00FFFF
|label8 = Taxes less subsidies on products
|value8 = 9.2
|color8 = #008080
|label9 = Agriculture, forestry and fishing
|value9 = 0.5
|color9 = #0000FF
|label10 = Mining and quarrying
|value10 = 3.3
|color10 = #FF00FF
|label11 = Manufacturing
|value11 = 16.5
|color11 = #F000FF
}}
{{Pie chart
|thumb = right
|caption = Gauteng's GDP contribution compared to other South African provinces.
|label1 = Gauteng
|value1 = 33.9
|color1 = #800000
|label2 = Kwa-Zulu Natal
|value2 = 16.1
|color2 = #FF0000
|label3 = Limpopo
|value3 = 7
|color3 = #FFFF00
|label4 = Mpumalanga
|value4 = 7.1
|color4 = #808000
|label5 = Northern Cape
|value5 = 2.3
|color5 = #00FF00
|label6 = North West Province
|value6 = 6.5
|color6 = #008000
|label7 = Western Cape
|value7 = 14
|color7 = #00FFFF
|label8 = Eastern Cape
|value8 = 7.6
|color8 = #008080
|label9 = Free State
|value9 = 5.5
|color9 = #0000FF
}}
The Gauteng Province's total GDP for 2022 was R2.2 trillion (US$ 135 billion), making the province the single largest contributor to South Africa's GDP with a contribution of 33%, despite having only 1.4% of South Africa's land area.{{cite web | url= http://www.southafrica.info/about/geography/gauteng.htm#.UWvIJKKBm2E | title=Gauteng province, South Africa | publisher=South Africa.info | access-date=15 April 2013}} Gauteng's Gini coefficient of 0.62 makes it more equal than South Africa (the Gini coefficient of which is 0.63 (2014){{cite web |title=World Bank |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=ZA |website=World Bank |access-date=3 July 2020 |archive-url=https://web.archive.org/web/20200703105640/https://data.worldbank.org/indicator/SI.POV.GINI?locations=ZA| archive-date=3 July 2020 |url-status=live}}) 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,{{cite web | url= http://www.arcelormittalsa.com/Operations/VanderbijlparkWorks/Overview.aspx | title=Arcelor-Mittal Vanderbijlpark | publisher=Arcelor-Mittal | access-date=15 April 2013}} are all in Gauteng.
Gauteng is home to the Johannesburg Stock Exchange,{{cite web | url=http://www.joburg.org.za/index.php?option=com_content&id=106&Itemid=58 | title=Johannesburg Securities Exchange | publisher=The City of Johannesburg | access-date=14 April 2013 | archive-date=6 March 2016 | archive-url=https://web.archive.org/web/20160306160705/http://joburg.org.za/index.php?id=106&itemid=58&option=com_content | url-status=dead }} the largest stock exchange in Africa, as well as the head offices of over 140 local and international banks. Some of the largest companies in Africa and abroad are based in Gauteng, or have offices and branches there, such as Vodacom,{{cite web | url= http://www.africanwireless.com/vodacom_history.htm | title=Vodacom History | publisher=African Wireless | access-date=14 April 2013}} MTN,{{cite web | url=http://www.mtn.com/Pages/Home.aspx | title=MTN Home | publisher=MTN Group | access-date=14 April 2013 | archive-url=https://web.archive.org/web/20130410135813/http://www.mtn.com/Pages/Home.aspx | archive-date=10 April 2013 | url-status=dead }} Microsoft South Africa{{cite web | url= http://www.microsoft.com/southafrica/press/Pages/Contact-us.aspx | title=Microsoft ZA Home | publisher=Microsoft | access-date=14 April 2013}} and the largest Porsche Centre in the world.{{cite web | url= http://www.porsche.com/middle-east/_johannesburg_/ | title=Porsche South Africa | publisher=Porsche | access-date=14 April 2013}}
History
{{further|Mineral Revolution|Witwatersrand Gold Rush}}
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{{cite web | url= http://upetd.up.ac.za/thesis/available/etd-07212011-123414/unrestricted/05back.pdf | title=University of Pretoria Reference List | publisher=The University of Pretoria | year=2005 | access-date=14 April 2013}} 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.{{cite book | title=The Angry Divide-The underdevelopment of the Western Cape, 1850–1900 | publisher=David Philip | author=Mabin, Alan | year=1989 | location=Cape Town | pages=83 | isbn=0-86486-116-8}}
Imports and exports
From 2002 to 2009, Gauteng's share of national imports and exports shares grew from 58.1% and 57% respectively to 59% and 66.7%, which is indicative of the high economic activity within the Gauteng region.{{cite web | url=http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | title=Provincial Economic Review and Outlook 2010 | publisher=Gauteng Online | year=2010 | pages=17 | access-date=15 April 2013 | archive-url=https://web.archive.org/web/20160304030548/http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | archive-date=4 March 2016 | url-status=dead }} In 2009, Gauteng's total imports amounted to R316 billion,{{cite web | url=http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | title=Provincial Economic Review and Outlook 2010 | publisher=Gauteng Online | year=2010 | pages=19 | access-date=15 April 2013 | archive-url=https://web.archive.org/web/20160304030548/http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | archive-date=4 March 2016 | url-status=dead }} while exports amounted to R337,6 billion.{{cite web | url=http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | title=Provincial Economic Review and Outlook 2010 | publisher=Gauteng Online | year=2010 | pages=20 | access-date=15 April 2013 | archive-url=https://web.archive.org/web/20160304030548/http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | archive-date=4 March 2016 | url-status=dead }} The most imported commodity to Gauteng for 2009 was, by far, machinery and electrical equipment, which took up over one third of the province's imports.{{cite web | url=http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | title=Provincial Economic Review and Outlook 2010 | publisher=Gauteng Online | year=2010 | pages=18 | access-date=15 April 2013 | archive-url=https://web.archive.org/web/20160304030548/http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | archive-date=4 March 2016 | url-status=dead }} The most exported commodity from Gauteng for 2009 was precious or semi-precious stones and metals, comprising 35.39% of Gauteng's total exports.
=Imports=
Gauteng's chief imports include electrical equipment and machinery, mineral products, transporting equipment and other such industrial goods. Most of the imports come from Asia and Europe, namely from China, Japan, Saudi Arabia, Iran, India, Germany, the United Kingdom, France, Italy and Sweden.
| valign="top"
| {| class="wikitable" align="center" cellpadding="4" cellspacing="0" style="margin:0 0 1.0em 1.0em; text-align:right; font-size:95%" | ||
| colspan=5 style="background:#ccccff"| Top five imports in 2009 | ||
|---|---|---|
| Product | {{center|Value}}(millions of Rands) | Percentage of total |
| Machinery & Electrical equipment | 107,882 | 34.14% |
| Mineral Products | 47,084 | 14.9% |
| Other | 42,849 | 13.56% |
| Transport Equipment | 33,401 | 10.57% |
| Chemicals | 31,189 | 9.87% |
| scope="row" colspan="5" style="color:#990000"| | ||
| All other imports | 53,595 | 16.96% |
|
| class="wikitable" style="margin:0 0 1.0em 1.0em; text-align:left; font-size:95%" | ||
| colspan=5 style="background:#ccccff"| Top five source markets in 2009 | ||
|---|---|---|
| Country | {{center|Value}}(millions of Rands) | Percentage of total |
| {{flagicon|PRC}} China | 45,188 | 14.3% |
| {{flagicon|Germany}} Germany | 36,656 | 11.6% |
| {{flagicon|USA}} United States of America | 30,652 | 9.7% |
| {{flagicon|Japan}} Japan | 15,484 | 4.9% |
| {{flagicon|UK}} United Kingdom | 14,536 | 4.6% |
|}
=Exports=
Gauteng's chief exports are precious minerals, base metals and mineral products, altogether accounting for 61% of its total export share. Gauteng exports its goods mostly to Asia and Europe, to countries like China, Japan, India, Germany, Switzerland and the United Kingdom. However, a significant amount of goods is also exported to the United States of America and to other African countries, such as Zimbabwe, Mozambique and Zambia.{{cite web | url=http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | title=Provincial Economic Review and Outlook 2010 | publisher=Gauteng Online | year=2010 | pages=21 | access-date=15 April 2013 | archive-url=https://web.archive.org/web/20160304030548/http://www.gautengonline.gov.za/Publications%20and%20Reports/Provincial_Economic_Review_and_Outlook_2010.pdf | archive-date=4 March 2016 | url-status=dead }}
|
| class="wikitable" style="margin:0 0 1.0em 1.0em; text-align:left; font-size:95%" | ||
| colspan=5 style="background:#ccccff"| Top five export markets in 2009 | ||
|---|---|---|
| Country | {{center|Value}}(millions of Rands) | Percentage of total |
| {{flagicon|PRC}} China | 37,811 | 11.2% |
| {{flagicon|USA}} United States of America | 25,658 | 7.6% |
| {{flagicon|Japan}} Japan | 24,307 | 7.2% |
| {{flagicon|Germany}} Germany | 18,230 | 5.4% |
| {{flagicon|Switzerland}} Switzerland | 15,530 | 4.6% |
|}
References
{{Reflist}}