Auckland’s nominal GDP has passed $100 billion for the first time, Stats NZ said.
Provisional figures released show Auckland’s regional economy increased in value from $95.3 billion to $101.4 billion between March 2016 and March 2017 (an increase of 6.3 percent).
The increase was driven by strong rises in the rental, hiring, and real estate services; construction; and finance and insurance services industries. However, the 2017 increase is smaller than 2017’s increase, when Auckland’s regional economy rose 7.8 percent.
Auckland’s top 18 industries are each valued at more than $1 billion. It is by far the largest regional economy in New Zealand – the next-largest is Wellington, which is valued at $35.6 billion. Auckland’s share of the national economy is 37.5 percent.
Source: Stats NZ