Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Wellington Economy Moving Forward

5 February 2014

Wellington Economy Moving Forward

Research released today conducted by Infometrics and commissioned by Wellington City Council shows an increase in productivity, taking Wellington City to 29.2 % higher than the national level and paints a generally positive picture of the Capital City economy moving forward at pace.

Key findings of the Wellington City Annual Economic Profile include:

• GDP in Wellington City for the year to March 2013 is up 2.6% to $17,930m from a year earlier, in line with New Zealand’s GDP which increased by 2.6% over the same period.
• Higher value-adding, knowledge based service industries – which includes organisations like Xero - accounted for the largest proportion of GDP (55.2%) inWellington City. This has increased from 54.8% in 2012. Nationally these industries accounted for 31.1% of the economy.
• GDP per employee in Wellington city increased by 1.9% to $118,074 in the year to March 2013, compared with a 1.7 % increase nationally. This takes Wellington Cityproductivity to 29.2% higher than the national level.
• Population growth which is an indicator of Wellington city’s attractiveness as a place to work and live was 0.9% over 12 months, increasing the population to 204,000.New Zealand’s total population also grew by 0.9% over the same period.
• Total employment in Wellington city averaged 151,853 in the year to March 2013, up 0.7% from a year earlier. Employment in New Zealand increased by 0.8% over the same period.
• Professional, scientific and technical services made the largest contribution to employment growth in Wellington City between 2012 and 2013 with the industry adding 968 jobs. The next largest contributor was public administration and safety (689 jobs) followed by financial and insurance services (299 jobs).

Councillor Jo Coughlan, the Chair of Economic Growth and Arts Committee, says that the profile confirms that the Economic Strategy set by Council in 2011 is already producing encouraging results. “The strategy is focussed on creating a business environment where innovative, creative and knowledge-intensive firms can flourish. Attracting talent to Wellingtonthrough the Destination Wellington programme and protecting and enhancing the central city's role as the economic engine room of the region leads to economic growth.”

The Annual Economic Profile is great news for Wellington says Mayor Celia Wade-Brown. “The profile shows that our Smart Capital vision is working and we're continuing to attract talent, enable high quality jobs and diversify the economy. There's more to be done in ensuring the health of the economy and Council’s Growth Agenda, in collaboration with the business, arts and education sectors will accelerate investment and success.”

The Wellington City Annual Economic Profile is the first report produced that provides annual economic information for Wellington City when compared with the previous year. Prior reports provided information at a Wellington regional level. The profile will be repeated annually from now on.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news