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South Island regions lead increase in regional GDP
Embargoed until 10:45am  –  11 March 2015

Regional Gross Domestic Product: Year ended March 2014  –  Media Release

All regional economies in New Zealand have increased in the latest figures from Statistics New Zealand.

The regional gross domestic product (GDP) figures were released today for 15 regions for the year ended March 2014.

The largest increases were in Southland (11.0 percent), Canterbury (10.6 percent), Marlborough (10.3 percent), and Waikato (10.1 percent). The national increase was 6.7 percent.

The increases in nominal value (today’s dollars and unadjusted for inflation) were a result of a strong performance in the agriculture industry, particularly dairy cattle farming and horticulture. Auckland and Wellington regions had the smallest increases of 5.1 percent and 4.4 percent, respectively.

“The increase in Southland reflects the impact of higher milk prices and shows the significance of the agriculture industry to the region,” regional economic statistics manager Gary Dunnet said.

“Canterbury’s increase was driven by a strong performance in agriculture, combined with the Christchurch rebuild”.

Taranaki had the highest GDP per capita at $80,297, followed by Wellington ($62,021) and Southland ($57,135). Gisborne region had the lowest GDP per capita ($34,602). The national average was $51,319.

New Zealand’s total GDP was $229.7 billion for the year ended March 2014. The North Island contributed 76.6 percent to total GDP, compared with 23.4 percent from the South Island.

Auckland’s contribution to total GDP in the year ended March 2014 was 35.3 percent. Wellington contributed 13.2 percent with Canterbury narrowly behind at 13.1 percent. The smallest contribution was from Gisborne (0.7 percent).

New Zealand's regional economies 2014 visually presents the key measures of the 15 regional economies.

Ends

For media enquiries contact: Kyle Uerata, Wellington 04 931 4600, info@stats.govt.nz
Authorised by Liz MacPherson, Government Statistician, 11 March 2015

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