Canterbury the second biggest regional economy

Kaikoura news
Wednesday, March 9, 2016

The latest regional GDP figures show Canterbury is now New Zealand’s second biggest regional economy.

“For the period March 2010 to March 2015 Canterbury’s GDP grew by 37.2 per cent, adding $8.9 billion to the region’s economy.

“The increase has been primarily driven by construction, which expanded rapidly over the last five years as the rebuild gathered momentum,” says Stuart Smith.

“It’s great to see how Christchurch has bounced back since the earthquakes and momentum will continue to build with Anchor Projects progressing, the Stronger Christchurch Infrastructure Rebuild Team’s (SCIRT) work nearing completion, and new legislation to be passed before April making regeneration the focus of central and local government’s investment in Christchurch.

“North Canterbury is experiencing tourism growth and our rural industries play a big role in the success of the region.

“Canterbury continues to be a centre of driving growth in the overall economy, contributing 13.6 per cent to New Zealand’s GDP, a 1.3 per cent increase.

“Our region is humming with activity and it’s great to see how well we’re doing” says Stuart Smith.