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TARANAKI FACTS and FIGURES WINTER2015 Taranaki Trends

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TARANAKI FACTS and FIGURES WINTER2015 Taranaki Trends TARANAKI FACTS AND FIGURES WINTER2015 Taranaki Trends WELCOME TO TARANAKI TRENDS FOR WINTER 2015 Statistics are, by their very definition, backward looking. But while they capture how our region has performed - rather than what’s ahead - they do offer insights that can be incredibly valuable when planning for growth. This edition of Taranaki Trends tells a story of a region built on strong foundations. Our building consents are up, our population is growing, our economy has performed strongly and we have more people employed in more businesses. We can be justifiably proud of our region. But looking forward Taranaki is facing some economic challenges. Our two cornerstone industries – dairying and oil and gas – are being impacted by fluctuations in global commodity prices that sit beyond our region’s control. What we are able to control is our response, and this publication should become one of the assets in your business toolbox. As the winter’s weather rolls in, and the impacts of global commodity price movements reach our region, we encourage you to utilise the contents of this toolbox to maintain momentum and planning for the spring. If statistics and our past performances teach us anything, it is what goes down will ultimately rebound. And as Taranaki’s regional development agency, if the team here at Venture Taranaki can offer any further assistance to help your organisation grow, then please don’t hesitate to contact us. Stuart Trundle Chief Executive Venture Taranaki Winter Edition 2015: This edition of Taranaki Trends is published in May 2015 and remains current until November 2015 TARANAKI TRENDS WINTER 2015 Economic Summary TARANAKI GDP DEATHS FOR THE YEAR ENDING RETAIL SALES FOR THE SIX EMPLOYMENT PARTICIPATION DECEMBER 2014 MONTHS ENDING DECEMBER 2014 RATE up 7.2% on the previous year, now at $9.2B. relative to 2013. relative to the same period in 2013. annual rate to December 2014 relative to 2013. EMPLOYEE NUMBERS NATURAL INCREASE IN ONLINE PURCHASES BY TARANAKI DEPARTURES OF TARANAKI annual change for 2014 relative to 2013. POPULATION RESIDENTS PEOPLE (BIRTHS LESS DEATHS) December 2014 quarter relative to the sam e per iod to overseas locations on a permanent long-ter m NUMBER OF BUSINESSES IN for year ending December 2014 compared to in 2013. basis. previous 12 months. TARANAKI our annual change 2014 relative to 2013. GUEST NIGHTS IN TARANAK FIROM UNEMPLOYMENT RATE ARRIVALS DUE TO LONG -TERM VISITORS STAYING WITH FRIENDS PERMANENT INTERNATIONAL AND FAMILY IN 2014 annual rate to December 2014 relative to 2013. EMPLOYMENT BY MĀORI TRUSTS PEOPLE AND AUTHORITIES WITHIN relative to the previous 12 month period. year ending December 2014 relative to previous NUMBER OF GUEST NIGHTS TARANAKI 12 months. BY VISITORS STAYING IN Annual change for 2014 relative to 2013 ECONOMIC OUTLOOK FOR NEW COMMERCIAL ACOMMODATION ZEALAND BY TARANAKI AVERAGE HOUSE VALUATION FOR BUSINESSES outlets within Taranaki for year ending December 2014 relative to 2013. BIRTHS IN THE REGION FOR THE DECEMBER 2014 for the next 12 months. YEAR ENDING DECEMBER 2014 relative to December 2014, in the New Plymouth and South Taranaki Districts. relative to the previous 12 month period. HOME AFFORDABILITY WITHIN TARANAKI Relative to same period 12 months. EMPLOYEE NUMBERS VALUE OF CONSTRUCTION CONSENTS FOR YEAR ENDING annual change for 2014 relative to 2013. DECEMBER 2014 relative to the previous 12 month period. T ARAN AKI T R ENDS WINTER 2 0 1 5 PA GE 1 The Economy CONSUMER PRICE INDEX (CPI) – NEW ZEALAND REGIONAL GROSS DOMESTIC PRODUCT (REGIONAL GDP) REGIONAL GROSS DOMESTIC PRODUCT (GDP) IS A % % GEOGRAPHIC BREAKDOWN OF NATIONAL-LEVEL GDP, WHICH IS -0.2 0.8 NEW ZEALAND’S OFFICIAL MEASURE OF ECONOMIC ACTIVITY. DEC 2014 QUARTER ANNUAL CHANGE IT IS THE SAME CONCEPTUALLY AS NATIONAL GDP, WITH THE GDP OF EACH REGION SUMMING TO THE NATIONAL GDP TOTAL*. CPI ANNUAL CHANGE 6.0 TARANAKI GDP: NEW ZEALAND 5.0 % 4.0 $9.2B 4.0 YEAR ENDED MARCH 2014 OF NEW ZEALAND’S GDP 3.0 2.0 1.0 0.0 Jun 05 Jun 08 Jun 09 Jun 11 Jun 13 Jun 07 Jun 06 Jun 10 Jun 12 Jun 14 Dec 08 Dec 12 Dec 07 Dec 09 Dec 10 Dec 11 Dec 14 Dec 13 Dec 05 Dec 06 * Regional GDP analysis has not yet been standardised and may vary by methodology and by the economic firms that produce such data. The following analysis has been MAIN SOURCE OF CPI INCREASE WERE HIGHER PRICES FOR undertaken by Statistics NZ. CIGARETTES AND TOBACCO, INFLUENCED BY A TOBACCO TAX EXCISE DUTY RISE IN JANUARY 2014. PRICES FOR NEWLY BUILT HOUSES, RENTAL AND ELECTRICITY WERE ALSO UP. THE CHEAPER PETROL PRICE WAS THE MAIN DOWNWARD CONTRIBUTOR. PAGE 2 TARANAKI TRENDS WINTER 2015 % CHANGEINREGIONALGDP2013-2014 REGIONAL GDP2014$BILLION 10.0 12.0 $10 $20 $30 $40 $50 $60 $70 $80 $90 0.0 2.0 4.0 6.0 8.0 $0 11.0 Gisborne Auckland $81.186 10.6 Marlborough Wellington $30.335 10.3 Southland Canterbury $30.204 10.1 Canterbury Waikato $20.576 7.8 Northland Bay of Plenty $11.862 7.8 Tasman / Otago $9.813 Nelson 7.7 Auckland Taranaki $9.170 7.2 Manawatu Taranaki -Wanganui $9.147 6.4 Otago Hawke’s Bay $6.354 6.3 West Coast Northland $5.760 5.9 Bay of Plenty Southland $5.502 Manawatu 5.6 Tasman / $4.180 -Wanganui Nelson 5.4 Waikato Marlborough $2.282 5.1 Wellington West Coast $1.721 4.4 Hawke’s Bay Gisborne $1.626 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 GDP PER CAPITA 2014 GDP PERCAPITA $0 • ($80,297), ARANAKI HASTHE HIGHESTGDPPERCAPITA TO2013 • OURGDPINCREASEDBY7.2%RELATIVE Taranaki $80,297 ($57,135). THE NATIONAL AVERAGE BEING $51,319. BEING$51,319. AVERAGE THENATIONAL ($57,135). FOLLOWED BYWELLINGTON($62,021)AND SOUTHLAND T Wellington $62,021 Southland $57,135 Auckland $53,759 Canterbury $53,054 West Coast $52,306 Marlborough $51,051 Waikato $48,098 Otago $46,684 Tasman / Nelson $42,695 Bay of Plenty $42,213 Hawke’s Bay $40,091 Manawatu -Wanganui $39,442 Northland $34,825 PAGE 3 PAGE Gisborne $34,602 TARANAKI TRENDS WINTER 2015 Labour Market GROWTH IN EMPLOYEE NUMBERS 2013-2014 TARANAKI NEW ZEALAND 50,690* 2.5% TOTAL EMPLOYEE TOTAL EMPLOYEE TARANAKI NEW ZEALAND COUNT COUNT 2.9% 2.7% 2014 EMPLOYMENT % BY TARANAKI DISTRICT TARANAKI EMPLOYMENT BY INDUSTRY 12,380 24% 10,000 South Taranaki District 9,000 8,000 7,000 2,910 6% 6,000 Stratford District 5,000 4,000 3,000 35,400 70% 2,000 New Plymouth District 1,000 0 Mining & Food Arts & & Safety Financial Education & Training Recreation Retail Trade Health Care Agriculture Construction Rental, Hiring Rental, Administrative Manufacturing Other Services Water Water & Waste INDUSTRIES WHICH HAVE THE MOST EMPLOYEES & Warehousing Accommodation Wholesale Trade Electricity, Gas, Gas, Electricity, Transport, Postal Transport, Forestry & Fishing Information Media & Support Services & Social Assistance & Technical Services & Technical Public Administration & Insurance Services Professional, Scientific Professional, & Telecommunications & Real Estate Services New Plymouth District Stratford South Taranaki Manufacturing Agriculture Manufacturing Retail Retail Agriculture * The regional employee count equates to the summation of employees within the three Health care and social services Education, health and social services Retail Taranaki District areas. This boundary differs slightly from the Taranaki regional boundary. Construction PAGE 4 TARANAKI TRENDS WINTER 2015 UNEMPLOYMENT RATE - TARANAKI v NZ DECEMBER QUARTER 2014 UNEMPLOYMENT RATE - REGIONAL COMPARISONS 8.0 10 9 7.0 8 6.0 7 5.0 6 5 4.0 4 3.0 3 2 2.0 1 1.0 0 0.0 Otago Nelson Waikato Taranaki Gisborne Auckland Tasman / Tasman Northland Southland Wellington Manawatu Canterbury -Wanganui Jun 11 Jun 13 Jun 14 Jun 09 Jun 08 Jun 12 Jun 07 Sep 07 Jun 10 Sep 13 Sep 14 Sep 09 Sep 10 Sep 11 Sep 12 Sep 08 Dec 12 Dec 14 Dec 09 Dec 10 Dec 08 Dec 07 Mar 08 Dec 11 Dec 06 Mar 11 Dec 13 West Coast West Mar 14 Mar 10 Mar 13 Mar 09 Mar 12 Mar 07 Hawke’s Bay Hawke’s Marlborough Bay of Plenty Taranaki New Zealand TARANAKI HAS LOWER UNEMPLOYMENT AND A HIGHER PARTICIPATION RATE THAN THE NATIONAL AVERAGE. ANNUAL UNEMPLOYMENT RATE LABOUR FORCE PARTICIPATION RATE TARANAKI NEW ZEALAND TARANAKI NEW ZEALAND 5.3% 5.8% 69.3% 68.9% ANNUAL RATE ANNUAL RATE ANNUAL RATE ANNUAL RATE TO DECEMBER 2014 TO DECEMBER 2014 TO DECEMBER 2014 TO DECEMBER 2014 TARANAKI TRENDS WINTER 2015 PAGE 5 Business Numbers TARANAKI BUSINESSES - NUMBER OF BUSINESSES BY INDUSTRY TYPE 2014 TARANAKI TARANAKI BUSINESSES % Agriculture , Forestry & Fishing 14,927 2.9 Rental, Hiring & Real Estate Services NUMBER OF OF NEW ZEALAND Construction Financial & Insurance Services BUSINESSES TOTAL Professional, Scientific & Technical Services Retail Trade Other Services Manufacturing Health Care & Social Assistance BUSINESS NUMBERS BY DISTRICT Accommodation & Food Services Wholesale Trade Transport, Postal & Warehousing Education & Training Administrative & Support Services % Arts & Recreation Services South Taranaki 29 Mining Public Administration & Safety 4,194 % Information Media & Telecommunications 61 New Plymouth District Electricity, Gas, Water & Waste Services 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 8,906 % Stratford 10 1,488 THE MAJORITY OF TARANAKI BUSINESSES ARE INVOLVED IN INDUSTRIES THAT MAKE THE BIGGEST CONTRIBUTION TO BUSINESS NUMBERS PRIMARY PRODUCTION, WHICH INCLUDES FARMING AND SERVICES New Plymouth District Stratford South Taranaki TO AGRICULTURE. Agriculture Agriculture Agriculture Business services e.g. financial, Business services e.g. financial, Business services e.g. financial, rental ,real estate rental, real estate rental, real estate Retail & wholesale Construction Construction Construction Retail Retail Professional services, scientific, technical PAGE 6 TARANAKI TRENDS WINTER 2015 BUSINESS - PERCENTAGE CHANGE IN 2013 - 2014 TARANAKI’S INDUSTRY STRENGTHS 2.5 2.3 2.3 INCLUDE AGRICULTURE, ENERGY 2.0 1.7 1.5 AND ENGINEERING, AND THIS IS 1.1 1.0 REFLECTED IN OUR COMPARATIVELY 0.5 0.2 0.0 HIGHER EMPLOYMENT COMPOSITION NZ New Plymouth Stratford South Taranaki Taranaki WITHIN THESE SECTORS RELATIVE TO THE NATIONAL AVERAGE.
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