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: