In this profile, we present all GDP estimates in constant 2010 prices. GDP presented in constant prices is sometimes referred to as real GDP. By using constant prices we remove the distractionary effect of inflation. It enables us to meaningfully compare GDP from one year to the next. Our GDP estimates differ from those published by Statistics New Zealand which are at 1995/6 prices.
These situation analysis reports outline the economic performance of the Wellington Region and the eight Territorial Authorities (TAs) of which it is comprised.
BERL GDP figures are expressed in 2014 year dollars (2015 analysis and current year for 2014/13).
BERL excludes Owner Occupied Dwellings (OOD) from GDP totals. OOD is an industry that measures the services provided to people living in the houses they own. The value of these OOD services is calculated as an imputed rent. In other words, the output of Owner Occupied Dwellings is valued at the estimated rent that a tenant would pay for the same accommodation. For the purposes of projecting economic activity, OOD distorts actual economic activity generated by FTEs as OOD do not generate jobs or income.
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