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Regional GDP

Waikato progress indicators – Tupuranga Waikato
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Waikato Progress Indicators - tupuranga Waikato

Image - Regional map and New Zealand money REGIONAL GDP

WPI - up arrow   IMPROVING TREND 

There has been continued growth in real Gross Domestic Product (GDP) per person between 2007 and the year ended March 2023 despite events affecting the economy such as the global financial crisis and COVID-19 pandemic.

This indicator is real (inflation adjusted) regional GDP per person, using Statistics New Zealand’s estimates to the year ended March.
 

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 person

Regional GDP quality graph

Year  Real GDP per person (2023 prices)
2000 $45,602
2001 $48,737
2002 $51,686
2003 $49,514
2004 $51,522
2005 $51,961
2006 $54,232
2007 $57,226
2008 $57,035
2009 $58,212
2010 $55,997
2011 $56,347
2012 $59,207
2013 $57,482
2014 $59,616
2015 $59,174
2016 $59,014
2017 $59,494
2018 $62,247
2019 $64,742
2020 $64,916
2021 $65,308
2022 $66,342
2023 $67,028

What is this indicator telling us?

  • Waikato is New Zealand’s fourth-largest region economically, making up approximately 9 per cent of New Zealand’s GDP in 2023.
  • Waikato GDP per person is typically around 10-15 per cent lower than the national average in any given year, largely due to the influence of higher average GDP per person in Auckland and Wellington.
  • Waikato real GDP per person remained at around the same level from 2007 to 2016 and has subsequently trended upward.
  • Between 2022 and 2023, the Waikato region’s real GDP per person increased by 1.0 per cent compared to an overall national increase of 1.9 per cent.

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 2022 dollars using March quarter year-on-year GDP deflator values compiled by the Reserve Bank of New Zealand (RBNZ).

Territorial authority level data were previously available from the Ministry of Business, Innovation and Employment (MBIE) - Modelled Territorial Authority GDP. However, these updates were discontinued after the 2021 data release.

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: Yes 

 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. These values have been converted to a common currency by way of current international prices (i.e. Purchasing Power Parity or PPP). The data shows that New Zealand’s real per capita level of GDP was around $3,900 below the OECD average in 2022.