According to Infometics Clutha District Regional Economic Profile 2023 latest data, the district’s gross domestic profit (GDP) reached $1,181million — a 1.0% increase from the previous year.
New Zealand’s GDP increased by 2.8% over the same period.
Economic growth in Clutha averaged 1.2% per annum over a decade, below the national average of 3.0% per annum.
Primary industries contributed most to Clutha’s GDP — 31.8% — surpassing the national average of 5.7%.
Goods production also played a significant role of 20.6% compared to 17.2% nationally.
High-value services accounted for 10.3%, below the average of 27.3%.
Agriculture, forestry, and fishing were the primary contributors to overall growth, with a 2% increase between 2022 and 2023.
Manufacturing, information media and telecommunications also made notable contributions.
Despite declines in transport, postal, warehousing and rental, hiring and real-estate services, the district’s overall economic growth was positive, totalling $11.8 million.
Clutha showcased its comparative advantage in sheep, beef and grain farming, meat manufacturing and forestry, indicating our strong economic foundations and potential for future growth.
The district had a 0.5% increase in employment to reach 95,293 by March 2023, reflecting positive but slower growth compared to the national average of 2.5%.
Although agriculture, forestry and fishing experienced job reduction, employment was still dominated by primary industry (29.7%) and goods-producing (29.4%).
Construction led employment growth with an addition of 74 jobs, followed by manufacturing and retail trade.
Average earnings of $67,886 per filled job were below the national average, $74,754 but there was a 7.5% increase in mean annual earnings for the year.
Housing affordability in Clutha District remained a "key advantage". The average house value, at $401,543, was 4.1 times the average household income, compared to the national average of 7.2 times.
Average weekly rent in Clutha District was $355, representing 18.7% of the average household income, more affordable than the New Zealand average of 21.4%.
"In summary, the Clutha District’s economic performance reflects a resilient and diversified economy, with key sectors contributing to growth.
The district’s comparative advantage in specific industries, coupled with steady employment and population growth, positions it as a promising region for future economic development," Clutha Development chief executive Linda Moore concluded.
"At Clutha Development, our purpose is to support a vibrant, sustainable economy and promote the Clutha District as a great place to live, work, invest and visit."
