The supplying of these ships with fresh provisions, fruit, and wine provided a very large market for the surplus produce of the colony.

For much of the Dutch rule in the Cape, income inequality is thought to have been amongst the highest in the pre-industrial world with pockets of wealthy living amongst an increasingly and relatively poor farming community.

[15] One of the first economic recessions recorded in the colony occurred in years following the departure of French troops that were garrisoned at the Cape from 1781-1783.

At the beginning of the 18th century, labour relations between Dutch colonists—particularly the Trekboers in the interior—and the native Khoisan was largely characterised by semi-cooperative symbiosis.

By the beginning of the 19th century, the majority of the Khoisan had been turned into a class of wage labourers whose status and situation was similar to serfs.

[17] After 1833, the resistance of free burghers to the creation of a permanent wage-labour force as a result of the abolition of slavery as well as the 'resistance of freed slaves and Khoi to full proletarianization' produced labour relations characterised by a greater degree of dependency.

[18] The main export staple of the Cape Colony for most of its history was wine and brandy, but by 1845 it had been overtaken in value by wool.

Increasing competition from Port Elizabeth for the trade of the interior of Southern Africa encouraged Capetonian business interests to lobby for the construction of a railway.

The raising of Angora goats and ostriches for their mohair and feathers respectively date from this period and became important export commodities.

[19]: 84–85 Much of the investment used to develop the diamond fields during the diamond-company mania of 1880-1881 came from the older towns in the Western Cape.

As Port Elizabeth and Kimberly developed the Western Cape found a booming market for its wheat and wine products.

The growing importance of local production inputs (thereby decreasing the importance of ports), the increasing relative cost of Western Cape labour and a growing reliance on semi-skilled instead of skilled labour in manufacturing had a negative impact on the province's economy.

[27] The discrepancy between imports and exports and the dominance of oil producing countries as the top trade partners can be explained by the large amount of petroleum and petroleum products that are imported into the province to be processed and refined at the Chevron Oil Refinery in Cape Town.

Cape Town is a major entry point for oil and gas imports into South Africa.

[30] Interest in developing intellectual property start-up companies, has also been expressed through communities such as the Silicon Cape Initiative.

[31] By 2018 an estimated 10 to 15 technology startups were established in Cape Town annually supported by a strong local business accelerator scene.

[32] The province has one of the largest technology sectors in Africa with around 550 enterprises employing over 40,000 people in the city of Cape Town.

[7] Oil, gas and other energy related industries play a significant role in the economy of the Western Cape.

With South Africa's largest gas facility in Mossel Bay, natural offshore gas reserves, the province's strategic location and the Chevron Oil Refinery the region plays an important role in producing, processing and distributing petroleum products throughout the Southern African region.

[39] The Chevron Oil Refinery in Milnerton is one of four refineries in South Africa and is capable of processing 100,000 barrels of crude oil a day[40] whilst the PetroSA facility in Mossel Bay is capable of refining up to 45,000 barrels a day of synthetic gas-to-liquids.

There is an estimated one trillion cubic feet of natural gas reserves in the Bredasdorp Basin south-east of Cape Town.

With 32.2% of all West Africa's and 23.7% of all Middle Eastern oil produced in these regions being transported around the Cape of Good Hope.

The textile industry is presently declining in importance, due to competition with cheaper Eastern producers, such as China.

[8] Domestic tourism is also on the rise, as low-cost air carriers make travel more affordable to more South Africans.

The seven most visited locations in 2016 were the V&A Waterfront, Cape of Good Hope, Boulders Beach, Table Mountain Cableway, Kirstenbosch Botanical Gardens, and Robben Island.

[8] For most of the province's history exports have been dominated by agricultural products (primarily fruit, sea food, vegetables, wine and brandy).

[13] Water shortages caused by climate change is a notable recent challenge to the further development of the agriculture sector in the region.

[8] Distilled wine or brandy is produced in the area long the R62 around the towns of Worcester, Robertson, Barrydale, Calitzdorp and Oudtshoorn.

[57] The Western Cape produces 90% of South Africa's olive oil and the province has experienced "astonishing growth" in this product.

Marine life such as spiny lobster (locally known as crayfish), abalone, snoek, squid, octopus, oysters and mussels are extensively fished.