There was an expansion in real Gross Domestic Product (GDP) between 2007 and 2018 despite events affecting the economy such as fluctuations in agricultural commodity prices.
This indicator is an estimate of real (inflation adjusted) regional GDP per person and per year, using Statistics New Zealand’s estimated regional GDP per person in the Waikato region.
Why is this indicator important?
Gross Domestic Product (GDP) is an internationally accepted measure of economic activity. By using this measure to monitor our region’s economic growth, we can make sound economic decisions which will benefit those living in the Waikato region. Our decisions can also take account of how these benefits can link with other regional, national and global economies.
Real GDP per persion
What is this indicator telling us?
- Waikato GDP per person is typically around 10 per cent lower than the national average, largely due to the influence of higher average GDP per person in Auckland and Wellington.
- In the wake of a slowdown in economic growth following the global financial crisis (GFC), regional GDP per person slumped in the 2010 to 2013 period and has since recovered.
- According to Statistics New Zealand, growth in Waikato regional GDP over the period 2013 to 2018 was broad-based, led by rental, hiring, and real estate services; construction; and manufacturing. The contribution of rental, hiring, and real estate services and construction to Waikato’s economy rose over this period.
- In 2018, the Waikato region contributed 8.4 percent of New Zealand’s GDP.
Check out related information on our website and other organisations’ websites listed on our Waikato Progress Indicators’ Useful Links page.
DATA SOURCE AND SUPPORTING INFORMATION
Statistics New Zealand’s annual Regional Gross Domestic Product (GDP) estimates are published in current (nominal) prices. These SNZ data have been inflation adjusted to June 2018 dollars using June quarter Consumer Price Index (CPI) values.
Update details: SNZ GDP per capita estimates are released in March each year and freely available online.
DATA AVAILABILITY – OTHER THAN WAIKATO REGION:
Territorial Authority (TA) disaggregation: No
Other regions: Yes
New Zealand: Yes
Other countries/Organisation for Economic Co-operation and Development (OECD): Comparative data between New Zealand and other countries/OECD are available for GDP per head in US$ current prices. The data shows that New Zealand’s real per capita level of GDP was around $4,000 below the OECD average in 2017.