Bay of Plenty and Auckland top regional GDP increases
Twelve of the 15 regional economies in New Zealand recorded nominal GDP increases in the year ended March 2016, Stats NZ said today.
Provisional estimates show the largest percentage increases were in the Bay of Plenty (7.7 percent), Auckland (6.0 percent), and Otago (4.8 percent). The national increase was 4.1 percent.
“The Bay of Plenty’s increase was underpinned by strong performances across the professional and administrative services, and agriculture, primarily kiwifruit,” senior national accounts manager Gary Dunnet said in a media release.
“The increase in Auckland was driven by the professional services, finance, and transport industries.”
Decreases were recorded in Taranaki (8.5 percent), the West Coast (2.8 percent), and Southland (1.0 percent).
“These decreases reflected a fall in mining and agriculture activity, mainly from the impact of lower international prices for oil, coal, and dairy products,” Dunnet said.
Despite a fall in the region’s GDP, Taranaki retained the highest GDP per capita ($71,297), followed by Wellington ($67,888) and Auckland ($58,717). The Northland region had the lowest GDP per capita ($36,531). The national average was $54,178.
New Zealand's regional economies 2016 visually presents the key measures of the 15 regional economies.
This year's regional GDP release includes an additional year of provisional data for 2015 about regional industry activity.
Posted: Thursday 30 March 2017