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Regional Economy Continues To Grow

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Hawke’s Bay’s regional economy has grown in value by $342 million, new statistics show.

Latest provisional data from Statistics New Zealand shows the Hawke’s Bay’s Regional Gross Domestic Product rose $342m for the year ended March 2017 – and is now worth $7.4 billion.

Matariki – Regional Economic Development Strategy project manager Gerard Quinn said the numbers were encouraging.

“If we take out the four metro regions, we have the fifth best GDP of the remaining regions. Over the last five years, our GDP growth has been almost identical to Waikato’s, a very successful region.”

Manufacturing, which was worth $991m a year, remained the largest contributor to the economy, adding an extra $63m over the year. Primary manufacturing ($734m) accounted for more than three quarters of the manufacturing sector’s overall contribution.

Photo: The region’s economy on the rise. 

For morCapturee on this and other great Hawke’s Bay stories go to hawkesbaytoday.co.nz

Posted: 5 April 2018

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