Editing South Island (section)

==Economy==
{{More citations needed section|date=May 2021}}
[[File:Tiwai Point Aluminium Smelter.jpg|thumb|right|The [[Tiwai Point Aluminium Smelter]] near [[Bluff, New Zealand|Bluff]]]]
{{Further|List of South Island companies}}

The South Island economy is strongly focused on tourism and [[Primary sector of economic activity|primary industries]] like agriculture. The other main industry groups are manufacturing, mining, construction, energy supply, education, health and community services.

The subnational gross domestic product (GDP) of the South Island was estimated at NZ$78.94 billion in the year to March 2022, 21.9% of New Zealand's national GDP. The subnational GDP per capita was estimated at $65,875 in the same period.<ref>{{cite web |date=24 March 2023 |title=Regional gross domestic product: Year ended March 2022 |url=https://www.stats.govt.nz/information-releases/regional-gross-domestic-product-year-ended-march-2022/ |access-date=4 April 2023 |publisher=[[Statistics New Zealand]] }}</ref>

===Energy===
[[File:Aviemore Dam From Canterbury.jpg|thumb|left|The [[Aviemore Dam]], the [[wiktionary:Penultimate|penultimate]] hydro station on the [[Waitaki River]] hydro scheme]]
The South Island is a major centre for electricity generation, especially in the southern half of the island, and especially from hydroelectricity. In 2010, the island generated {{val|18.01|ul=TWh}} of electricity, 41.5% of New Zealand's total electricity generation. Nearly all (98.7%) of the island's electricity is generated by hydroelectricity, primarily from the [[Waitaki River|Waitaki]], [[Clutha River|Clutha]], and [[Manapouri Power Station|Manapouri]] schemes, with most of the remainder coming from wind generation.<ref name="EDF2011">{{cite web |url=http://www.med.govt.nz/templates/MultipageDocumentTOC____46119.aspx |title=Energy Data File |publisher=[[Ministry of Economic Development (New Zealand)|Ministry of Economic Development]] |date=13 July 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111207221928/http://www.med.govt.nz/templates/MultipageDocumentTOC____46119.aspx |archive-date=7 December 2011 }}</ref> While the majority of electricity is consumed within the island, a significant percentage is exported to the North Island via the [[HVDC Inter-Island]] link.

[[Offshore drilling|Offshore oil and gas]] is likely to become an increasingly important part of the South Island economy into the future. [[Origin Energy]] has formed a joint venture with [[Anadarko Petroleum]], the second-largest independent U.S. natural gas producer, to begin drilling for oil in the [[Canterbury Basin]] off the coast of [[Dunedin]]. The 390&nbsp;km<sup>2</sup>, Carrack/Caravel prospect has the potential to deliver more than the equivalent of {{convert|500000000|oilbbl}} of oil and gas. Market analyst, Greg Easton from Craigs Investment Partners commented that such a substantial find it could well turn [[Dunedin]] from the [[Edinburgh]] of the south to the [[Aberdeen]] of the south.<ref>{{cite web |url=http://tvnz.co.nz/business-news/origin-begin-exploration-off-south-island-3382251 |title=Origin in joint exploration venture in Canterbury Basin &#124; BUSINESS News |publisher=TVNZ |date=25 February 2010 |agency=ONE News |access-date=2 August 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110613031107/http://tvnz.co.nz/business-news/origin-begin-exploration-off-south-island-3382251 |archive-date=13 June 2011 }}</ref>

[[File:GreatSouthBasinNZ.PNG|thumb|right|Approximate location of the Great South Basin with approximate location of allocated oil exploration blocks]]

The [[Great South Basin]] off the coast of Otago and [[Southland, New Zealand|Southland]] at over {{convert|500000|km2}} (covering an area 1.5 times New Zealand's landmass) is one of New Zealand's largest undeveloped offshore petroleum basins with prospects for both oil and gas. In July 2007, the New Zealand Government awarded oil and gas exploration permits for four areas of the Great South Basin, situated in the volatile waters off the Southern Coast of New Zealand. The three successful permit holders are:<ref>{{cite web |url=http://energy.southlandnz.com/BusinessinSouthland/OilGasMinerals/GreatSouthBasin.aspx |title=Great South Basin |publisher=Southland Energy Consortium |access-date=2 August 2010 |archive-url=https://web.archive.org/web/20110716114240/http://energy.southlandnz.com/BusinessinSouthland/OilGasMinerals/GreatSouthBasin.aspx |archive-date=16 July 2011 |url-status=dead }}</ref>
* a consortium led by [[ExxonMobil]] New Zealand (Exploration) Limited (United States) which includes local company [[Todd Energy|Todd Exploration Limited]] (New Zealand);
* a consortium led by [[OMV]] New Zealand Limited (Austria) which includes [[PTT Public Company Limited|PTTEP Offshore Investment Company Ltd]] ([[Thailand]]), [[Mitsui]] Exploration and Production Australia Pty Ltd (Japan); and
* [[Greymouth Petroleum]] Limited (New Zealand)

===Stock exchanges===
Due to the [[gold rush]]es of the 1860s, the South Island had regional stock exchanges in [[Christchurch]], [[Dunedin]] and [[Invercargill]] – all of which were affiliated to the Stock Exchange Association of New Zealand. However, in 1974 these regional exchanges were amalgamated to form one national stock exchange, the New Zealand Stock Exchange (NZSE). Separate trading floors operated in both Christchurch and Dunedin until the late 1980s. On 30 May 2003, New Zealand Stock Exchange Limited formally changed its name to [[New Zealand Exchange]] Limited, trading as NZX.

Today, the [[Deloitte]] South Island Index<ref>{{cite web |url=http://www.deloitte.com/dtt/section_node/0,1042,sid%253D193345,00.html |title=South Island Index |publisher=Deloitte.com |date=31 December 2006 |access-date=2 August 2010 }}</ref> is compiled quarterly from publicly available information provided by NZX, Unlisted and Bloomberg. It is a summary of the movements in market capitalisation of each South Island-based listed company. A company is included in the Index where either its registered office and/or a substantial portion of its operations are focused on the South Island.

===Trade unions===

There are several South Island-based trade union organisations. They are:

* [[Furniture, Manufacturing & Associated Workers Union]]
* [[New Zealand Building Trades Union]]
* [[New Zealand Meat & Related Trades Workers Union]]
* [[Southern Amalgamated Workers' Union]]