Regional GDP in New Zealand – March 2022

Stats NZ has released its Regional gross domestic product: Year ended March 2022 report, which provides a geographical breakdown of economic activity within New Zealand. New Zealand’s value-added output:

• 78% within the North Island
• 22% within the South Island

Auckland region contributing close to 38% of New Zealand’s annual GDP with Wellington coming in second at 12.5%

• Highest GDP per capita is the Wellington region $82,772 per capita, followed by the Auckland region $80,328 per capita.
• Lowest GDP per capita was the Northland region, at $46,611
• The Taranaki region recorded the highest nominal GDP per capita growth over the year (+14.3 percent), followed by the Auckland region (+11.4 percent).

A good exercise with your class is to get them to match the figures with the area of New Zealand. Figures below are in $m

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Regional GDP in New Zealand for March 2021

Some recent stats – geographical breakdown of nominal GDP within New Zealand for year ended March 2021. Out of all 15 regions only Taranaki (-5.8%) and Otago (-2.2%) contracted from the previous year.

Highest GDP per capita
– Wellington $75,319
– Auckland $70,952
– Taranaki $70,626

Lowest GDP per capita
– Northland $43,931
– Gisborne $45,545
– Manawatu/Wanganui $49,932

A good exercise with your class is to get them to match the figures with the area of New Zealand. Figures below are in $m

China and the economic centre of gravity

Very good FT video with Martin Sandbu and James Kynge discussing the fact that although the Chinese economy has grown at an alarming rate over the last 40 years, will it become the global superpower? Some of the main points:

• Global economy is now becoming more regionalised
• From 1979 to 2018 China’s GDP growth rate averaged 9.5%
• 2,000 years ago everyone was poor – centre of gravity of global economy followed population size
• Key change in the mid ’90s, when China began to allow the sons and daughters of farmers to migrate from the village to these big factory towns.
• Liberalised global trade in 1980’s helped China access markets
• China still very much a developing nations – ranks 61st in terms average per-capita income but got an excellent infrastructure.
• China’s middle class approx 400m but that means approx 1bn of the population are poor
• Middle income trap – getting from poor to middle income is a very different process from getting to middle income to high income.
• Economy needs to change from a growth model based on accumulating labour and capital to a growth model led by technological development and technological progress.
• China is either a global leader or at least close to the cutting edge, wind and solar power, online payment systems, digital currencies, aspects of artificial intelligence, 5G telecoms, drones, ultra-high-voltage power transmission.
• Three major trading hubs – EU, US and China – with trade being more regionalised. China reluctant to lose export markets in EU and US as they are big drivers of exports
• Three trading blocs will lead to protectionism and decoupling of supply chains. unless the EU, the US, and China can sort out their differences.

New Zealand’s regional and per capita GDP.

From the New Zealand Parliamentary Library – April 2018.

• Auckland region has the largest regional GDP at $101,370 millionWellington region
• ($35,603 million), and the Canterbury region ($34,933 million). Economic output in the North Island accounted for over 77 percent of total economic output in New Zeala
• Old with the South Island providing the remaining 22.7 percent.
  The economy expanded by 6.2 percent over the year in nominal terms (not to be confused with real economic growth of 3.7 percent over the year). The Bay of Plenty region grew the most in percentage terms, expanding by nine percent in nominal ter
• ms, followed by the Northland and Waikato regions (8.2 percent each). In contrast, the Wellington region expanded by 4.6 percent over the year.

The region with the highest GDP per capita was the Taranaki region ($70,863), followed by the Wellington region ($69,851), and the Auckland region ($61,924). The region with the lowest GDP per capita was the Gisborne region, at $39,896 for the year ended March 2017.
The following table shows nominal GDP, the annual percentage change, and GDP per capita for the year ended 31 March 2017 by region.

Source: New Zealand Parliamentary Library. April 2018

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New Zealand Regional GDP – End of Year March 2013

From the Parliamentary Library – Statistics New Zealand has published regional gross domestic product figures for the years ended March 2007 – 2013. These figures show the size and structure (in terms of industry output in the year ended March 2011) of 15 regions for New Zealand, along with changes in both size and structure over time. It should be noted that the gross domestic product figures are nominal, and do not take into account changes in prices of goods and services produced over time.

The Auckland region contributed 35.3 percent of New Zealand’s GDP in the year ended March 2013, followed by the Wellington region (13.5 percent), and the Canterbury region (13.2 percent). The South Island contributed 23.3 percent of New Zealand’s GDP in the March 2013 year. The West Coast region made the smallest contribution to national GDP, at 0.7 percent (although, it also only holds 0.7 percent of the estimated national population).

New Zealand’s Regional GDP

Here are some statistics showing regional GDP in the year ended March 2010 that was published in the July edition of the Parliamentary Economic Review. The main findings from the data include:

– 35% of New Zealand’s GDP was generated in the Auckland region – see graph below
– 14.2% was generated by Wellington
– 78% of GDP was generated by the North Island
– Taranaki had the highest GDP per person – $73,223 – forestry, fishing, mining, electricity, gas, water and waste services industry contributes almost 41% towards the Taranaki region’s economy, versus 6.7% nationally
– Wellington region ($55,791 per person), and the Auckland region ($45,709 per person)
– The lowest GDP per person was in Gisborne region – $30,450 per person. National average – $43,660 per person