Economy and industry of Cardiff

As the capital city of Wales, Cardiff is the main engine of growth in the Welsh economy; the city has been developing as a significant service centre and economic driver for the wider south east Wales economy. The city and the adjoining Vale of Glamorgan contribute a disproportionately high share of economic output in Wales. The Cardiff Travel to Work Area has grown significantly since 1991; the 2001-based version includes much of the central South Wales Valleys in addition to the Vale of Glamorgan.

In the 19th century, the economy of Cardiff benefitted most from coal exportation and steel production. Cardiff's port became the world's most important coal port, handling more than London and Liverpool.

Today, Cardiff is a centre for white-collar professions. The city relies principally on the retail, finance, media and tourism sectors, and has been undergoing major regeneration since the late 20th century particularly in Cardiff city centre and Cardiff Bay.

The economy of Cardiff and adjacent areas makes up nearly 20% of Welsh GDP and 40% of the city's workforce are daily in-commuters from the surrounding south Wales area.

Total employment in Cardiff stood at 190,948 in 2008, a rise from 149,000 in 1991 to 176,700 in 2005, and has been growing at around 2005 per annum in recent years, almost double the rate across Great Britain (1.3%). In addition, an estimated 18,000 people are self-employed, taking the total workforce to around 194,000. Following the decline of the city's heavy industry in the latter part of the 20th century, the economy of Cardiff is now dominated by the service sector (see table of employment by industry below) with just 9% of employees – 15,650 individuals – engaged in manufacturing activities.

Public administration, education and health is the largest sector in Cardiff, providing employment for 32% of the city's workforce. Cardiff is the main financial and business services centre in Wales and as such, the sector provides employment for 20% of the city's workforce. This sector, combined with the Public Administration, Education and Health sectors, have accounted for around 75% of Cardiff's economic growth since 1991.

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Wikipedia