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GDP
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GDP (gross domestic product) is defined as the monetary value of all the goods and services produced by an economy over a specified period.
It includes consumption, government purchases, investments, and exports minus imports. In practice GPD is equal to the sum of wages, salaries, profits and operating surplus arising from all economic activity in the industry and/or region (BERL).
BERL has been monitoring Central Otago’s GDP for over 15 years.
(Source: BERL, 2011 All figures are in 2010$. )
Business services and primary (including agriculture, horticulture and viticulture) are the sectors that make the biggest contribution to the Central Otago economy.
Since 1994 the total GDP of the district has increased from $446M to $796M, a real increase of 80%. In this time the local economy has outperformed the national economy, especially over the last 5 years.
(Source: BERL, 2011)
However, as shown here, the star performing sectors have been manufacturing & construction and recreation services; even allowing for the hit construction took last year. Both have both more than doubled their GDP contribution to the local economy.
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(Source: BERL, 2011) |
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