Regional economies have seen varying impacts from the COVID-19 pandemic and associated response measures, with regional gross domestic product (GDP) ranging from a 5.8 percent decline in Taranaki, to a 3.7 percent increase in Marlborough over the year to March 2021, Stats NZ said today.
Nominal or ‘current price’ GDP is not adjusted for price effects.
“The figures show that experiences have differed across the country during the COVID-19-affected March 2021 year. The regional results compare to the national increase of 0.8 percent over the same period,” national accounts – industry and production senior manager Ruvani Ratnayake said.
Two regions saw declines in GDP in the year to March 2021 compared with the year to March 2020. Otago saw a decline of 2.2 percent, while Taranaki fell by 5.8 percent.
“Otago is more reliant on industries linked to tourism, such as accommodation, and food and drink services, than other regions. The transportation industry, which is also important for tourism, fell significantly, and together these three industries were the main drivers of Otago’s decrease,” Ms Ratnayake said.
“Taranaki’s decrease was mostly driven by its largest industry, oil and gas production, which was affected by lower global prices for energy products and reduced operations.”
Conversely, the Marlborough region and the Tasman/Nelson region had the highest GDP increases, with rises of 3.7 percent and 3.1 percent respectively over the year to March 2021.
“Marlborough’s GDP increase was driven by primary manufacturing, owner-occupied property operation, and agriculture,” Ms Ratnayake said.
“These three industries comprised 37 percent of Marlborough’s economy in 2020 and were less affected by the COVID-19 restrictions. In contrast, some of the region’s smaller industries, such as transportation, administration and support services, and accommodation, saw declines.”
Tasman/Nelson had the second-highest GDP increase. A key driver was health services, an industry that was less affected by COVID-19 restrictions and which had solid increases across all regions.
The Wellington region recorded the highest GDP per capita in the year to March 2021. GDP per capita measures economic output divided by the number of people in the region. Wellington’s GDP per capita was $75,319, ahead of Auckland on $70,952. The national average GDP per capita was $63,955.
“This is the first time since our series began in 2000 that Auckland has entered the second spot, nudging out Taranaki on $70,626,” Ms Ratnayake said.
Several regions’ GDP per capita fell during the year to March 2021, including that of Wellington and Auckland.
Which industries contributed to your region’s GDP? is our web app that visualises and compares the industry composition of regions’ GDPs.
Stats NZ is the official producer of regional GDP statistics.
Datainfo+ explains regional GDP methodology.
