Nelson/Tasman’s GDP on the rise

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Nelson and Tasman’s gross domestic product continues to increase, despite a decline in the agriculture industry.

For the year ended March 2015, Tasman and Nelson’s GDP increased 2.4 per cent, according to provisional estimates released by Statistic NZ on Wednesday.

The rise was broad-based, offsetting the decline in agriculture, which had been behind a 4.8 per cent increase the year before.

From 2010–15, the Tasman and Nelson economy increased 19.1 percent, driven by the manufacturing industry. Statistics NZ noted the region’s “significant seafood industry” in its report.

The Nelson and Tasman contribution to the national GDP was 1.7 per cent.

Auckland’s GDP increased $5.7 billion (6.9 percent), Canterbury’s $2.3 billion (7.3 percent), and Wellington’s $1.2 billion (3.7 percent). The national increase was $8.7 billion (3.7 percent).

“The large increase in Auckland reflects strong performances in construction, transport, and finance,” senior national accounts manager Susan Hollows said.

“Canterbury’s increase is associated with the Christchurch rebuild, which offset a decline in agricultural activity.”

Decreases were recorded in Southland, at $0.5 billion (9.9 percent), Waikato, at $0.4 billion (2.2 percent), Taranaki, at $0.3 billion (3.3 percent), and the West Coast, at $0.1 billion (5.0 percent). These decreases reflected a fall in agricultural activity.

Taranaki had the highest GDP per capita ($75,941), followed by Wellington ($65,974) and Auckland ($56,997). The Northland region had the lowest GDP per capita ($35,103). The national average was $52,953.

New Zealand’s total GDP was $241.2 billion for the year ended March 2015. The North Island contributed 76.7 percent to total GDP, and the South Island 23.3 percent.

Auckland’s contribution to total GDP for the year ended March 2015 was 36.6 percent. Canterbury contributed 13.6 percent, with Wellington narrowly behind at 13.5 percent. The smallest contribution was from the West Coast region (0.7 percent).