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 

(note: trend indicator above is relative to 2007 WPI baseline year)

Real Gross Domestic Product (GDP) per person grew between 2007 and 2024 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 (2024 prices)
2000 $47,291
2001 $50,546
2002 $53,606
2003 $51,352
2004 $53,437
2005 $53,956
2006 $56,250
2007 $59,407
2008 $59,220
2009 $60,628
2010 $58,342
2011 $58,721
2012 $61,580
2013 $59,842
2014 $61,952
2015 $61,454
2016 $61,277
2017 $61,796
2018 $64,641
2019 $67,284
2020 $67,450
2021 $68,332
2022 $69,403
2023 $70,038
2024 $68,598

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 2024.
  • Waikato GDP per person is typically around 10 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 subsequently trended upward and reached another plateau.
  • Between 2023 and 2024, the Waikato region’s real GDP per person fell by 2.1 per cent compared to an overall national decrease of 0.9 per cent.
  • Based on latest government modelling at the territorial authority level, in 2023 GDP per capita in the Waikato region was highest in Hamilton City, followed by Taupō, Matamata-Piako and Waitomo.

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 available from Ministry of Business, Innovation and Employment (MBIE) - Modelled Territorial Authority GDP uses a different methodology  than Statistics New Zealand.

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 $4,900 below the OECD average in 2023.