Economy, jobs and trends
Gross Domestic Product (GDP) is the value of all goods and services produced in a country within a certain time period (typically annually) and is the official measure of economic growth in New Zealand/Aotearoa.
The 2021 GDP was measured using a production approach, which looks at the complete value of goods and services produced, minus the costs used throughout the production process.
Figure 1.
Top five industries contributing to Waitaha 2021 GDP
As shown Figure 1, the top five industries that contributed to the region's 2021 GDP were:
- professional, scientific and technical services
- health care and social assistance
- property operators and real estate services
- wholesale trade
- construction services
Top five industries contributing to Waitaha exports
The top five industries that contributed to exports in the region were considerably different to those that had the largest contribution to GDP. As shown in Figure 2, the top five industries that exported out of the region in 2021 were:
- dairy product manufacturing
- meat and meat product manufacturing
- fruit, cereal and other food product manufacturing
- machinery and other equipment manufacturing
- professional, scientific and technical services
Figure 2. Ecoprofile.infometrics.co.nz
While the top five industries that export from Waitaha span a range of manufacturing and service industries, the region’s top ten exported goods are all food related. The region’s exports are showcased in Figure 3.
Figure 3. Ecoprofile.infometrics.co.nz
Top five industry employers in Waitaha
A considerable number of workers contribute to sustaining the GDP of Waitaha.
The top five industries that employ people in the region are:
- health care and social assistance
- professional, scientific and technical services
- education and training
- construction services
- accommodation and food services
A full breakdown of the region’s employing industries in 2021 can be seen in Figure 4. In the second quarter of 2022 (April, May, June), the employment rate for Waitaha was 68.8 percent.
Figure 4. Ecoprofile.infometrics.co.nz
Trends in GDP 2000 and 2021
- All industries in Waitaha were affected by COVID-19 and its associated lockdowns and border closures.
- Figure 5 shows the percent-share of the region’s GDP from five major industries between 2000 and 2021, prior to the disruption caused by COVID-19.
- Unlike the previous graphs, Figure 5 is grouped into the Australia New Zealand Standard Industrial Classification (ANZSIC) Level 1 industries.
- ANZSIC classifies industries based on their primary business activity and is used to record and analyse industry statistics in New Zealand and Australia.
Figure 5.
- Primary industries such as ‘agriculture, forestry, and fishing’ indicate a stable trend in their percent-share of the region’s GDP from 2000 - 2021. Meanwhile, the data for tourism, construction, and ‘professional, scientific and technical services’ indicates a steady rise.
- The construction industry’s GDP contribution rapidly increased after the Canterbury/Waitaha earthquakes, then decreased from 2015/16 - finally stabilising at around seven percent.
- The tourism industry has grown continuously, apart from a slight drop in 2011 following the earthquakes. Tourism regained steady growth up until the COVID-19 pandemic - achieving a five percent share of the regional GDP in 2020.
- The percent-share of GDP in Waitaha from the manufacturing industry has experienced a downward trend over this period.