Central Otago growth "phenomenal"

Wednesday May 11, 2016 Mark Cox

Business and Economic Research Ltd (BERL), which authored the report on behalf of the Central Otago District Council, said the Central Otago GDP increased 8.4 per cent, GDP per capita by 6.4 per cent, and employment grew 7.7 per cent. 


Mark Cox, Senior Economist with BERL said the report "implied" it was "another good year for the Central Otago economy".


"In fact, the employment and GDP growth were phenomenal."


The sectors that experienced the most growth were agriculture, agricultural services (such as contracting activities), administration services (where labour supply, recruitment and other manpower related activities are classified), construction and medical services.


Apple and pear, and stonefruit growing, which are classified in the agriculture sector, achieved 12.7 per cent and 25.5 per cent GDP growth respectively. While grape growing GDP fell 12.9 per cent as a result of a smaller crop, the number of hectares in production increased slightly.


Tourism had a good year with 6.8 per cent increase in GDP, a 1.5 per cent increase in full-time equivalent (FTE) employment and a 3.8 per cent increase in the number of business units engaged in the sector.


The fastest growing sectors of the district economy over the 10-year period 2005 to 2015 have been administrative services (18.1 per cent), fabricated metal product manufacturing (14.7 per cent), non-metallic product manufacturing (9.9 per cent), sport and recreation activities (9.2 per cent) and basic material wholesaling (7.3 per cent).


Read full article here