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Food and beverage sector, a key ingredient in Cape Town’s economy<p>EPIC takes a closer look at the sector and explores the innovation and creativity opportunities it encourages, as well as the major contribution it makes to Cape Town’s employment. As the largest manufacturing industry by output in Cape Town, the food and beverage manufacturing sector recorded the highest Gross Value Added (3,0%) and employment growth rates (4,9%) of any manufacturing industry in the city over a 10-year period. The employment growth rate is impressive given that, on average, other manufacturing industries cut jobs during this period.</p><p>Some of the findings in this edition of EPIC:</p><ul><li>The food and beverage industry is one of the few manufacturing industries in Cape Town that has a positive trade balance and is an important earner of foreign exchange for the city.</li><li>Quarter-on-quarter, Cape Town’s labour force increased by 41 000 to 1,9 million in the fourth quarter. </li><li>Cape Town’s exports have shown strong and consistent growth over the past 10 years reaching R78,7 billion in 2016. Africa was Cape Town’s largest export region in 2016, accounting for 43,4% of the city’s global exports, followed by Europe with a share of 24,2%.</li></ul><p><a href="https://www.capetown.gov.za/work%20and%20business/doing-business-in-the-city/business-support-and-guidance/economic-resources-and-publications">EPIC</a>, a collaboration between the City of Cape Town and <a href="https://www.wesgro.co.za/home_wesgro" target="_blank">Wesgro<i class="icon link-external"></i></a>, provides ongoing economic analyses of Cape Town’s economy. It includes statistics and analysis of key economic trends, which helps provide direction when creating a range of economic development strategies. Each edition focuses on a specific sector including industries such as oil and gas, clothing and textile, business process management, renewable energy and more.<br></p>2017-05-10T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891dGP0|#4a032206-40d5-4733-9fd5-ca0609580204;L0|#04a032206-40d5-4733-9fd5-ca0609580204|EPIC report;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb;GP0|#c077b4c6-0b3c-49f0-9892-a438ed954fa3;L0|#0c077b4c6-0b3c-49f0-9892-a438ed954fa3|Economy;GP0|#7433c306-87a2-4b1d-94f0-a2a6b4c43fa9;L0|#07433c306-87a2-4b1d-94f0-a2a6b4c43fa9|manufacturing sector1

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