Introduction
In 2005, Statistics New Zealand has completed testing the feasibility of producing regional gross domestic product (GDP) by industry. The objectives of the feasibility project were to determine the feasibility of producing regional GDP series on an ongoing basis, and whether regional GDP could be produced to an acceptable standard using existing data sources, or whether new data collections are required.
The key finding of the regional GDP feasibility study is that data and methods make it feasible to produce estimates of regional GDP. Estimates can be produced using existing data sources and applying internationally recognised methods. Presently the production of ongoing regional GDP estimates is not on the Statistics New Zealand work programme.
Economic statistics such as GDP provide a sound basis for monitoring and evaluating economic growth, and for making economic decisions. Regional GDP could provide the user community with another tool to aid understanding of the factors influencing economic growth in the regions.
Statistics New Zealand has published the Regional GDP Concepts, Sources and Methods report used to produce the regional Gross Domestic Product (GDP) estimates and a Research Report on Regional Gross Domestic Product.
Concepts, sources and methods
The Regional GDP Concepts, Sources and Methods report, released in April 2007, is for users interested in the specific concepts, classifications, and methodologies used in the production of regional GDP.
It outlines general concepts, industry and regional classifications, the overarching methodology used that aligns with the internationally preferred approach to producing regional GDP, specific compilation issues encountered and how these were overcome, and a summary of the methodology by specific industry.
Research report
The Research Report on Regional Gross Domestic Product, released in December 2006, contains findings on the feasibility of regional GDP.
The project yielded new current price annual estimates for regional GDP by industry, for the years ended March 2000 to 2003, and confirmed that ongoing regional GDP series can be produced if required. The regional estimates are consistent with national GDP.
Information
Information on the Regional GDP project can be found in the frequently asked questions section.
A regional GDP workshop was held on 6 October 2005, the presentations given at the workshop are now available.
The glossary of terms for regional GDP is now available.
Feedback
Statistics New Zealand welcomes user feedback on the methods and results presented in the research report, and their views on the potential use and value of further development of regional GDP estimates.
Contact details:
Email: info@stats.govt.nz