Mitchell's Plain Nodal Economic Development Profile - Business Trust

Section 3: The Economy of Mitchell’s Plain3.1 Overall GDPThe GDP of Mitchell’s plain has shown growth over the past decade, although it haslagged behind provincial economic growth.3GDP (Mitchell’s Plain): 1995 – 20048%Real GDP Growth22.082.13 2.142.232.352.42CAGR (%)6%4%2%1.7%3.4%Mitchell’s PlainWestern Cape4.2%2.3%Rand (Bn)0%50,0001995 - 2004 2000 - 2004GDP per Capita: 20041Rand40,00030,00020,000Mitchell’s PlainWestern Cape33,82010,0005,80001995 1997 1999 2001 2003 20040Figure 3.1.1: Mitchell’s Plain GDP: 1995-20043.2 Sectoral contribution to GDPThe retail sector accounts for a large share of the nodal GDP; the manufacturingsector and the public sector also account for a significant share and are experiencinggrowth. The fastest-growing sectors are transport and communication, trade, andfinance and business services.30%Share of GDP by Sector: 2004600GDP by Sector (Constant 2000 Prices)Average CAGR for GDP: 1.7%500General GovernmentServicesWholesale &Retail TradeShare of GDP (%)20%10%20%20%17%15%12%9%GDP in Millions of Rands (2004)400300200Finance & Business ServicesManufacturingTransport & CommunicationCommunity,Social andOtherPersonalServices5%100Construction0%General ManufacturingGovernmentServicesWholesale &Retail TradeFinance &BusinessServicesTransport &CommunicationCommunity,Social &PersonalServicesConstruction1% 1%0%Agriculture,Forestry &FishingElectricity & MiningWaterAgriculture,Forestry & ElectricityMiningFishing and Water0-20% -15% -10% -5% 0% 5% 10%Real GDP CAGR (1995-2004)Figure 3.2.1: Share of GDP by sector, Mitchell’s Plain: 1995-20047