Canterbury economy top of New Zealand ‒ report

Wednesday, 18 June 2025

Farming on the Canterbury plains. The region’s rural strength has helped put its economy at the top for the nation, according to the ASB Regional Economic Scoreboard.

Canterbury’s economy is now the best performing in New Zealand, according to a new report, thanks mainly to its farmers.

The latest ASB Regional Economic Scoreboard puts the region in the top spot for the first three months of the year, saying Canterbury has “kicked off 2025 on a high”.

It credits strong commodity prices and soaring food and fibre exports with helping power the South Island economy.

Shoppers in central Christchurch, where retail is being boosted by the region’s strong rural sector, economist Nick Tuffley says.

The West Coast is in the second spot, followed by Otago and Marlborough. The Auckland region comes 10th and Wellington 15th.

Canterbury was previously in New Zealand’s number two spot behind Otago.

“The scoreboard is reflecting what many in the regions already know — rural New Zealand is doing the heavy lifting right now,” said ASB’s chief economist, Nick Tuffley.

“South Island regions are benefiting from strong commodity tailwinds and resilient export demand, especially across dairy, meat, forestry and horticulture.”

The West Coast economy is the second-strongest in the country by the ASB scoreboard.

James Meager, the Minister for the South Island, said it was “fantastic” to see Canterbury in the top spot, and the West Coast in second.

He said the data is “an absolute success story for the South Island and is proof of the enormous contribution it makes to our national GDP”.

Meager said there was potential for even more growth in the south to bolster the New Zealand economy.

He said Canterbury’s rural strength is aiding economic recovery in the retail and housing sectors.

“It’s no wonder people are queuing to move there.'

The economic scoreboard is calculated on eight measures: population, employment, retail trade, house prices, house sales, construction, consumer confidence and new car registrations.

Tuffley said the rural-led momentum comes as the Government forecasts record-breaking export earnings for the food and fibre sector, which are expected to rise 12% to $54.6b in the coming year.

“It’s clear that the rural and urban economies seem to be moving at different speeds across the country,” he said.