Economy: Africa's powerhouse
Johannesburg is the largest single metropolitan contributor to the national economic product. National average growth in gross domestic product (GDP) has been 1,8% over the past 10 years, with Johannesburg marginally outpacing that growth with an average rowth per annum of 2%.
- The city's contribution to the national economy is almost 16%, while it is 40% to the Gauteng province.
- Per capita gross geographic product (GGP) in Johannesburg is R31 000. This compares to World Bank-designated middle-income countries whose average GGP per capita is R33 000.
- The city's GGP is R86 billion (1995 rands).
- The average annual income per household is R31 048, which is on average 57% higher than that for South Africa as a whole, and 9% higher than the GGP per capita for Gauteng.
The city's economy is dominated by four sectors, three of which are service sectors. The four key sectors are:
- financial and business services;
- retail and wholesale trade;
- community and social services; and
- the manufacturing sector.