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Timaru 2012 Economic Profile - Infometrics

Download the full report (pdf 1.7mb)

Timaru’s economy grows 4.4%

Latest statistics sourced by Aoraki Development Business and Tourism from the 2012Timaru District Economic Profile show that Timaru’s economy has grown 4.4% in the year to March 2012 compared to New Zealand’s economy at 2.3%.

Wendy Smith Chief Executive of Aoraki Development Business and Tourism says “these results concur and back up other statistics we have been receiving” she says “confidence in the business community is strong based on the back of a well performing and diverse agricultural sector with added value processing”.

Aoraki Development Business and Tourism commissions regular economic reports to check the districts performance and assist with further analysis and business investment.

The report prepared by Infometrics, shows the Timaru economy’s growth over the last ten years growing by an average 3.2% per annum and ranking the district 13th out of 66 territorial authorities in New Zealand

Wendy Smith said “this information provides further confidence in the market and confirms that South Canterbury is faring extremely well with strong growth in Gross Domestic Product (GDP).

Healthcare & Social Assistance, Transport, Construction and Agriculture have created the largest number of jobs in the last 10 years.

Wendy Smith of Aoraki Development Business and Tourism says “The information on our unemployment statistics has been in the market place for a while however the breakdown of those industries which have created most of the jobs since 2001, makes interesting reading. This needs to be compared with those industries that make the largest contribution to overall employment in Timaru”

Timaru has a labour market of 23,419 jobs (Infometrics Timaru Annual Economic Profile 2012) which is 1.1% of national employment.

The industries which created the most jobs since 2001 are reported as:

The workforce in Timaru in self employment is comparable with the rest of New Zealand at 16.9% and 16.8% respectively. The breakdown is as follows.

Mrs Smith says” This provides useful data for those seeking employment, embarking upon training or providing services to these industries.

Statistics show Timaru’s unemployment at 5% as at March 2012 compared with New Zealand at 6.6%.

The unemployment statistics from 2002 – 2012 again shows that over the past 12 years Timaru has fared extremely well.

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