Whangarei District Quarterly economic monitor - March 2020

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Gross domestic product (provisional)

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Highlights for Whangarei District

  • GDP (provisional) in Whangarei District was up 1.1% for the year to March 2020 compared to a year earlier. Growth was lower than in New Zealand (1.7%).
  • GDP (provisional) was $4,521 million in Whangarei District for the year to March 2020 (2019 prices).
  • Annual GDP growth in Whangarei District peaked at 5.1% in the year to September 2013.

National overview

Economic activity dropped significantly in the March 2020 quarter, with lower tourism and trade activity over the first two months of the quarter combining with a collapse in activity at the end of March. Infometrics provisional estimates point towards a 0.6% contraction in activity from the December quarter, taking economic growth over the 12 months to March 2020 to 1.7%pa. Lower tourism activity, softer freight volumes, and empty construction sites were key drivers of the decline, with unsurprisingly stronger government administration activity keeping activity from dropping lower. With the Level 4 lockdown only captured in the last 6 days of March, estimates for June will be far more dire.