Regions including Taranaki, Southland and the West Coast have emerged as the fastest-growing regions during the years following global financial crisis, according to the latest data released.
According to Statistics New Zealand, a new measure has shown that regions have recorded strong economic growth even as Auckland recorded the population with more than one-third of the country's economic production. Statistics New Zealand has released a new measure of the country's regional economies including an analysis of 15 regions between 2007 to 2010.
Regional Statistics manager Peter Gardiner noted that the time period between 2007 and 2010 was strong for primary industries and rural regions while urban centers faced a slowdown in manufacturing. New Zealand's gross domestic product (GDP) rose 11.7 per cent reaching the level of $189 billion between 2007 and 2010 even as the global economy faced a slowdown.
Out of the total, the North Island contributed more than three-quarters and one-third was provided by Auckland to the New Zealand economy. Auckland faced economic slowdown during the years particularly in manufacturing and distribution.
Source: Top News