Taranaki on top

Last updated 12:31 28/03/2014

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Taranaki has recorded the country's highest gross domestic product per capita in the year ended March 2013.

Per capita GDP in Taranaki was $74,341, in 2013, $16,000 more than the next highest of $57,941 recorded in Wellington while Southland took third with a per capita GDP of $52,701.

GDP is a measure of the size of an economy and does not necessarily correlate to income. 

"The high average figure for Taranaki is largely due to the contribution of oil and gas operations and to a lesser extent dairy farming," Statistics New Zealand regional economic statistics manager Peter Gardiner.

Gisborne had the lowest GDP per capita at $34,472, while the national average was $47,532.

Regional GDP figures showed the largest increases were in Canterbury where GDP was up six per cent, it increased 3.3 per cent in Auckland and went up 1.5 per cent in both Wellington and Otago.

The national increase was 2.0 percent.

Decreases were recorded in eight of 15 regions as a result of fluctuations in commodity prices and the 2012/13 drought, which was the worst since 1946.
 The West Coast, Hawke's Bay, and Gisborne showed the largest decreases.

New Zealand's total GDP was $211.6 billion in the year ended March 2013.

The North Island contributed 76.7 per cent to the country's GDP, compared with 23.3 per cent from the South Island.

Auckland's contribution to national GDP in the year ended March 2013 was 35.3 per cent, Wellington contributed 13.5 per cent with Canterbury narrowly behind at 13.2 per cent. Taranaki contributed $8.2b, or 3.9 per cent.

The smallest contribution was from the West Coast at 0.7 per cent of total GDP.

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- Taranaki Daily News

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