Auckland city business and economy report 2007
Executive summary |
Relative economic performance |
Economic structure |
Affordable housing |
Population |
Labour market |
Retail trade and tourism |
Building and property |
Inflation, interest rates and the exchange rate |
Potential economic impacts of climate change |
Economic outlook
Relative economic performance
GDP is a measure of total output or income of a city,
region or country. GDP per capita measures income per head and is often used as
a proxy indicator of living standards.
The data in the table below indicates that, over the last
decade, the Auckland region experienced total GDP growth around the middle of
the range. However, this growth was achieved through the increase in population
rather than through increasing levels of labour productivity.
This poor labour productivity performance is reflected in
the low GDP per capita, when compared to other countries and a consequentially
low per capita income. It was the lowest of any comparator cities and 36 per
cent lower than its Australian comparators.
Table 2: Relative performance1
Table 2 refers to the Auckland region. Auckland city's GDP per capita is
significantly higher than the region as a whole ($US 37,329 versus $US 24,520).
This reflects the fact that the Auckland region's economic activity is
concentrated in Auckland city but the region's population is more dispersed.
| City - region |
Average growth per annum (1995-2006)2 |
Real GDP per capita 20063 |
|
| |
Real GDP |
Real GDP/Cap |
Population |
(2006 $US) |
|
| Auckland region |
4.0% |
2.0% |
2.0% |
$20,973 |
| Sydney |
2.8% |
1.9% |
0.9% |
$32,800 |
| Perth |
4.1% |
2.5% |
1.5% |
$36,546 |
| Brisbane |
4.9% |
2.9% |
2.0% |
$29,365 |
| Melbourne |
3.7% |
2.5% |
1.1% |
$32,904 |
| Madrid |
5.8% |
3.9% |
1.4% |
$34,343 |
| Singapore |
5.1% |
3.0% |
2.0% |
$29,311 |
| Portland |
4.6% |
3.3% |
1.3% |
$38,021 |
| Seattle |
3.8% |
2.4% |
1.4% |
$38,600 |
|
Source: New
Zealand Institute of Economic Research
1 Measures of GDP per capital for some cities have been assumed equal to regional
or state figures, with total GDP estimated on the basis of the cities' share of
regional and state populations.
2 These series are expressed in local currency to remove distortions that occur
from exchange rate fluctuations.
3 Real GDP per capita 2006 is expressed in 2006 $US. We note that
the purchasing power parity (PPP) approach is more appropriate for
comparisons.
|
Published June 2007
