Taranaki Regional GDP: Year ended March 2016
30 March 2017
Taranaki Regional Gross Domestic Product: Year ended March 2016
Taranaki
In nominal terms
(unadjusted for inflation):
• From 2011–16
Taranaki’s economy declined 4.3 percent (well below the
national increase of 23.8 percent). Taranaki’s
contribution to the GDP fell from 4.3 percent to 3.3 percent
during this time.
• The decline was driven by forestry,
fishing, and mining, which is the largest industry in
Taranaki (accounting for 29.4 percent of the region’s
economy in 2015), and agriculture, the fourth largest
industry. Together, production from these industries has
fallen close to $1.6 billion since 2011.
• However, the
falls were softened by increases in many other industries in
the region, notably manufacturing, which rose by more than
$529 million, and transport, postal, and storage, which rose
by $134 million.
• In 2014, Taranaki’s GDP rose 5.3
percent. This was driven by a 49.0 percent increase in
agriculture (mainly dairy cattle farming), along with a 14.7
percent increase in manufacturing, more than offsetting the
fall in fishing, forestry, and mining.
• In 2015,
Taranaki’s economy decreased 1.5 percent as the
agriculture industry (mainly dairy cattle farming) declined
50.2 percent, in spite of substantial increases in
manufacturing and fishing, forestry, and mining.
• In
2016, Taranaki’s GDP decreased 8.5 percent. Fishing,
forestry, and mining experienced a significant contraction,
reflecting the impact of lower international commodity
prices.
Bay of Plenty and Auckland top regional GDP increases – Media release
Twelve of the 15 regional economies in New Zealand recorded nominal GDP increases in the year ended March 2016, Stats NZ said today.
Bay of Plenty and Auckland top regional GDP increases – media release
For more information about these statistics:
• Visit Regional Gross Domestic Product: Year ended March 2016