Agriculture a major influence on economy
The Timaru District economy is strongly influenced by its agricultural heritage. From its birth in pioneering sheep farming, our richly productive agricultural sector has grown to become New Zealand's "food bowl".
Today's farming is heavily influenced by dairy, with horticulture, intensive cropping, meat and wool also playing an important role. Significant manufacturing, processing, engineering and distribution operations contribute to extensive export and domestic supply of a wide range of goods and services.
This provides an array of employment opportunities across all sectors from trades and manufacturing to the professional, service and primary sectors. The Timaru District prides itself on having one of the lowest unemployment rates in New Zealand.
The wider South Canterbury region enjoys reliable and accessible water for irrigation and industry - indeed some of the most affordable resource in the country. This continues to provide the impetus for the development and growth of successful food processing and exporting operations. Large scale investment in water storage, quality and management is continuing, helping to ensure a robust, diverse economic future for the District.
Timaru District – Quarterly Economic Monitor Report December 2024
Highlights:
Economic activity in Timaru remains patchy in light of challenging economic conditions across the country, but there are signs of resilience. Economic activity in Timaru fell 0.5% in the year to December 2024, in line with the national economy, according to Infometrics provisional GDP estimates.
Employment of Timaru residents fell 1.9%pa in the December 2024 quarter, reflecting the impact of job losses at Alliance Smithfield on top of challenging economic conditions more broadly. Job losses were also reflected in the number of Jobseekers, which rose 23%pa in Timaru in the December 2024 quarter, nearly double the 12%pa increase nationally. The impact of these job losses will continue to flow through various indicators in the coming quarters, although Timaru’s diverse economy will mitigate the effect.
GDP
- GDP in Timaru District was down 0.5%, totalling $3,985 million.
Consumer spending
- Electronic card consumer spending in Timaru District as measured by Marketview, increased by 3.4% , compared to an increase of 1.1% in Canterbury Region.
Tourism spending
- Total tourism expenditure in Timaru District increased by 4.6% in the year , compared to an increases of 4.8% in Canterbury Region.
House values
- Timaru’s house values are down 1.7% with the average value now $523,001 compared with $725,625 in Canterbury Region.
Dairy payout
- Timaru District total dairy payout for the 2023/2024 season is estimated to have been approximately $445 million.
- Timaru District's dairy payout for the 2024/2025 season is expected to be approximately $581 million, $136 million higher than last season, assuming that production levels from last season are maintained.
View the full report here:
Timaru District offers a great lifestyle with abundant opportunities. Find out more from residents who've moved here about what Timaru District offers for their lifestyle.
Timaru District Council Annual Plan 2016/2017
“Farmers Mill have chosen Timaru, South Canterbury to build our state-of-the art flour mill. The district is central to the arable land which produces the wheat we use to mill 100% NZ Flour. We find the district has a strong economic profile and the services and people we require to build a world class business.”
Murray Turley, Chairman, Farmers Mill, Timaru