2023 GDP indicates growth for Northern Cape

The 2023 IHS - market report for the Northern Cape depicts the Gross Domestic Product of the province at R135 billion, which indicates a positive economic growth of 0.6%. This is above the national economic growth average which is 0.3%. This follows economic stagnation in 2019 with the GPD at R 69 billion and a negative economic growth at 0.2%. The province has had a R40 billion increase in the GDP per region over the past four years. Speaking at the re-launch of the Northern Cape Human Resources Development Council, Premier Zamani Saul says that community services by government is the biggest economic contributor that accounts for R33 billion of the total GDP which is regarded as negative growth. He says the biggest contributor should be the productive economy which includes manufacturing by the mining and agriculture sectors. Saul says finance, which is the third biggest contributor to the provincial GDP contributes 16% which accounts for R21 billion, indicates astounding growth as compared to the 4% contribution 10 years earlier. He says this sector is certainly creating jobs and more young people need to be trained to ensure continuous growth.

Journalist: Rene Julies
Email: rckjulies@gmail.com

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