Taranaki industry projections

Taranaki Industry Structure and Performance

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Taranaki Industry Structure and Performance

This section sets out the Taranaki region’s current industry structure and performance in

terms of employment and GDP. The analysis looks at the changes in industry structure

between 2001 and 2006. The Taranaki region’s growth is compared to that of New Zealand,

at aggregate and at industry-by-industry levels.

3.1 Taranaki

population

Employment and GDP should be considered in light of the population demographic in the

region. Population growth has been significantly slower than nationally as shown in Table

3.1. This makes Taranaki’s performance over the past five years even more impressive.

Table 3.1 Population trend, 1996 – 2006

Number

Percent

Number

Percent

Taranaki Region

106,569

102,684

104,697

-3,885

-3.6

2,013

2.0

Total New Zealand

3,681,546

3,820,749

4,143,282

139,203

3.8

322,533

8.4

Source: Statistics New Zealand, Census

Increase or Decrease (-)

Census Night Population Count

1996

2001

2006

In New Zealand, a large proportion of growth has been in population-based, service-focused

industries. In Taranaki, population growth has not been in the same league as in New

Zealand. Although these industries have been growing fast in Taranaki as well, they are off

a smaller base and, therefore, they have not impacted significantly on the regional totals.

Therefore, while employment and GDP growth in Taranaki have been slower than the

national average over the last five years, this is an impressive performance considering the

region’s population trends.

Further, there has been a turnaround in Taranaki’s population demographics. After declining

between 1996 and 2001, the population grew in the last five years by 2,000 people (2.0

percent). This will impact positively on the region’s performance going forward, especially as

it provides the resources/clients to support the high growth/value added service sectors.

3.2 Taranaki

employment

In 2006, the Taranaki region employed just over 45,200 FTEs, which is around 2.5 percent of

national employment. The majority of the region’s employment is in the manufacturing and

agriculture sectors. Employment growth in the region has accelerated substantially since

2001, compared with earlier performance, indicating a positive change in the Taranaki

region’s economic performance.

9

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Figure 3.1 shows the proportion of employment in the Taranaki region accounted for by

various industries in 2006.

Figure 3.1 Taranaki FTEs, 2006

Agricult ure

16.2%

Food processing

8.4%

Educat ion

5.6%

Communications

0.9%

Transport & storage

3.1%

Wholeale & ret ail

15.0%

Ot her mfg

4.0%

M ining (O&G)

1.8%

Cult ural and

recreat ional

1.6%

Personal

2.8%

Healt h & communit y

8.1%

Government admin

1.9%

Fishing

0.1%

Utilit ies

0.5%

Forest ry

0.3%

Hospit ality

3.9%

Engineering

6.1%

Bus, f inance & propert y

11.6%

Construct ion

8.1%

FTEs

BERL Regional Database, Statistics NZ

The three manufacturing industries – food processing, engineering, and other manufacturing

– together provided 18 percent of Taranaki’s employment. Agriculture accounted for 16

percent of all employment in the region. The manufacturing and agriculture industries are

related in that close to half of manufacturing employment is in food processing.

The next largest industry was wholesale and retail trade, at 15 percent of employment, while

finance and business services (12 percent), construction (8.1 percent), and health and

community services (8.1 percent) were also major players.

However, the share of employment accounted for by each industry at a regional level relative

to the national picture provides a better description of important industries in the region.

Figure 3.2 shows the proportion of employment in each industry in Taranaki compared to the

New Zealand average.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Figure 3.2 Comparison of employment by industry, 2006

BERL Regional Databse; Statistics NZ

16.2

0.3

0.1

1.8

8.4

6.1

8.1

3.7

6.0

0.4

18.1

4.6

4.0

1.6

16.8

3.5

6.2

2.6

3.6

0.5

2.8

1.6

5.6

1.9

0.9

3.1

3.9

11.6

15.0

4.0

8.2

7.5

4.2

0.2

0.4

8.2

ric

)

til

iti

pit

ity

t &

t a

lth

ity

l a

tio

Sector

FTE

s

(% of tot

a

l)

Taranaki

New Zealand

From this we can see that a significantly higher proportion of employment in the Taranaki

region is in agriculture, food processing, engineering, and mining. Conversely, Taranaki has

a relatively low proportion of employment in business, finance and property services;

wholesale and retail trade, and most of the service industries.

These relative proportions are important when we consider employment growth.

Table 3.2 presents FTE employment numbers for Taranaki broken down by industry

between 2001 and 2006. It also provides a national comparison for total employment.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Table 3.2 Taranaki FTEs, 2001 – 2006

Industry

2001

2004

2005

2006

2005

2006

2001 to

2006

Agriculture

7,395

7,167

6,943

7,307

-3.1

5.2

-0.2

Forestry

133

138

137

119

-0.9

-12.8

-2.2

Fishing

-12.2

-7.8

-3.9

Mining (O&G)

555

649

745

817

14.7

9.7

8.0

Food processing

3,732

3,820

3,889

3,785

1.8

-2.7

0.3

Engineering

2,247

2,299

2,554

2,753

11.1

7.8

4.1

Other manufacturing

1,771

2,008

1,801

1,794

-10.3

-0.4

0.3

Utilities

286

298

320

237

7.5

-26.1

-3.7

Construction

2,463

2,971

3,439

3,680

15.7

7.0

8.4

Wholesale & retail trade

6,368

6,791

6,922

6,803

1.9

-1.7

1.3

Hospitality

1,364

1,557

1,714

1,757

10.0

2.5

5.2

Transport & storage

1,221

1,392

1,394

1,414

0.1

1.5

3.0

Communications

346

380

448

402

18.0

-10.2

3.0

Business, finance & property svs

3,782

4,618

4,843

5,253

4.9

8.5

6.8

Government administration

747

776

867

877

11.8

1.1

3.3

Education

2,376

2,570

2,664

2,518

3.6

-5.5

1.2

Health & community svs

3,586

3,527

3,681

3,664

4.4

-0.5

0.4

Cultural & recreational svs

598

644

642

731

-0.3

13.8

4.1

Personal svs

1,066

1,201

1,280

1,275

6.5

-0.3

3.7

Taranaki

40,078

42,849

44,321

45,221

3.4

2.0

2.4

New Zealand

1,532,525

1,690,949

1,751,699

1,809,041

3.6

3.3

3.4

Employment Number FTEs

source:BERL Regional Database, Statistics NZ

%pa change

Over the last five years, the Taranaki region averaged employment growth of 2.4 percent per

annum compared to 3.4 percent per annum for New Zealand. While regional growth was

lower than that seen nationally, much of this was likely a result of supply side constraints – a

shortage of labour due to lower population growth.

The fastest employment growth over the last five years in percentage terms was in

construction, which grew from around 2,460 FTEs to 3,680 FTEs, an increase of 8.4 percent

per annum. Other particularly strong performers were mining (8.0 percent per annum,

almost all within oil and gas); business, finance and property services (6.8 percent per

annum); hospitality, which accounts for most of the tourism industry (5.2 percent per annum);

engineering (4.1 percent per annum); and cultural and recreational services (4.1 percent per

annum).

Only four of the 19 industries experienced falls in employment over the period. The largest

industry, agriculture, saw a decline of 0.2 percent per annum (around 90 FTEs). Other

industries where employment fell were fishing (-3.9 percent per annum); utilities (-3.7 percent

per annum); and forestry (-2.2 percent per annum).

Figure 3.3 shows the trend in employment growth in the Taranaki region compared to New

Zealand employment growth between 2001 and 2006.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Figure 3.3 Employment trend, 2001 – 2006

100

105

110

115

120

125

2001

2002

2003

2004

2005

2006

E

m

p

lo

ym

en

t i

n

d

ex 2

001=

100

Taranaki

New Zealand

source: BERL

Employment growth in Taranaki has broadly mirrored that of New Zealand over the last five

years, apart from a dip between 2003 and 2004. What makes this remarkable is that

employment growth has been achieved despite lower population growth.

Figure 3.4 compares employment growth in Taranaki and New Zealand at the 19-industry

level over the last five years.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Figure 3.4 Comparison of employment growth by industry, 2001 – 2006

BERL Regional Databse; Statistics NZ

-0.2

-3.9

8.0

4.1

-3.7

8.4

5.2

6.8

0.5

2.3

0.7

1.8

3.1

-0.1

4.3

2.2

3.6

5.0

3.0

3.7

4.1

0.4

1.2

3.3

3.0

1.3

0.3

-2.2

5.5

5.6

2.6

4.1

6.9

2.1

2.3

-4.0

-6.0

-6

-3

ric

)

gin

rin

til

iti

pit

ity

t &

t a

lth

ity

l a

tio

Sector__FTE___g__row__th___2__0__0__1'>Sector

FTE

g

row

th

2

0

0

1

-2

0

0

6

(%

pa

)

Taranaki

New Zealand

The general national trend is lower employment growth in the primary industries, while

growth is highest in services as well as construction, wholesale and retail trade, and

hospitality. A lot of this is due to increasing productivity in the primary sector, but also the

growth in demand for services industries, driven in large part by global trends and

population.

The Taranaki region tends to follow the national trends in each industry. It has, however,

seen substantially stronger growth in mining (oil and gas) and engineering, two of the

region’s traditional strengths. In addition, other industries such as construction; hospitality;

and business, finance and property services have added jobs at a faster rate than New

Zealand as a whole.

While the region has seen significant falls in employment in two of its smaller industries,

forestry and fishing, this has been against a background of even greater drops at a national

level. Utilities employment fell at 3.7 percent per annum while there was some growth

nationally (1.8 percent per annum).

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

3.3 Taranaki

GDP

The Taranaki economy generated around $4.38 billion in GDP, or 2.8 percent of national

GDP, in 2006.

Figure 3.5 shows the composition of the Taranaki region’s GDP in 2006.

Figure 3.5 Taranaki GDP, 2006

Food processing

9.9%

Engineering

5.5%

Ot her mf g

3.9%

Wholeale & ret ail

10.5%

Educat ion

3.0%

Healt h & community

4.6%

Cultural and

recreat ional

1.1%

Personal

0.9%

Fishing

0.1%

Hospit ality

1.3%

Communicat ions

2.9%

Government admin

2.4%

Bus, f inance & property

16.4%

Transport & storage

3.3%

Agriculture

9.5%

Utilit ies

2.6%

Construction

4.7%

Forestry

0.7%

M ining (O&G)

16.9%

GDP

BERL Regional Database, Statistics NZ

Mining (oil and gas) makes the biggest contribution to the region’s GDP, accounting for 16.9

percent. This is followed by business, finance and property (16.4 percent), wholesale and

retail trade (10.5 percent), food processing (9.9 percent) and agriculture (9.5 percent).

The proportion of GDP accounted for by mining (oil and gas) is unique in New Zealand.

Similarly, agriculture, food processing and engineering are all relatively higher than

nationally.

Figure 3.6 compares the relative contributions to GDP of each industry in Taranaki and New

Zealand in 2006.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

Figure 3.6 Comparison of GDP by industry, 2006

BERL Regional Databse; Statistics NZ

9.5

0.7

0.1

16.9

9.9

1.3

0.9

5.3

15.4

5.0

25.7

4.5

3.7

5.4

2.1

1.1

4.6

3.0

2.4

16.4

2.9

3.3

10.5

4.7

2.6

3.9

5.5

1.2

5.8

1.7

1.9

6.2

4.1

4.9

0.9

0.2

1.2

4.7

ric

)

til

iti

pit

ity

t &

t a

lth

ity

l a

tio

Sector

G

D

P

(%

of tota

l)

Taranaki

New Zealand

Mining (oil and gas) stands out as having the most significant difference from the national

situation. In the region, it accounts for 17 percent of GDP, whereas nationally it accounts for

less than 1.0 percent. Again, this highlights the importance of the oil and gas sector to the

Taranaki region. Similarly, food processing, agriculture, and engineering make relatively

high contributions to GDP at the regional level.

Within the Taranaki region, most of the retail, business and people services make a relatively

smaller contribution to GDP than is seen nationally. This is due to the disproportionately

large contribution of the primary and manufacturing sectors in the Taranaki economy as well

as the smaller population base of the region.

Table 3.3 presents the annual change in GDP for Taranaki broken down by industry between

2001 and 2006. It also provides an overall GDP picture for New Zealand.

Taranaki Industry Projections 2006-2026

Venture Taranaki

November 2007

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