New Statistics NZ figures show the Bay of Plenty is New Zealand's fifth biggest regional economy, worth $12.3 billion dollars.
The region's GDP rose by 2.3 per cent in 2015 thanks in part to increases in transport, postal, warehousing and several other industries which helped offset a decline in the agriculture sector.
The Bay played a significant role in the national economy and contributed 5.1 per cent to New Zealand's GDP in 2015.
Bay of Plenty MP Todd Muller says it's great to see the region's economy is healthy and the outlook is positive.
'The Bay of Plenty's GDP increased 2.3 percent in 2015 despite tough times for our agriculture industry,” he says.
'Our region is humming with activity and I am fortunate to represent such a hard-working electorate.”
Overall, New Zealand's GPD rose by 3.7 per cent, adding $8.7b to the national economy in 2015.
Auckland had the largest GDP increase at 6.9 per cent ($5.7b), followed by Canterbury with 7.3 per cent ($2.3b) and Wellington, at $1.2 billion (3.7 percent).
Todd believes Bay of Plenty industries will also gain from the recently signed Trans-Pacific Partnership Agreement.
'Through this partnership more markets will be viable for our exporters as tariffs are reduced. This means local businesses have more money to hire employees, invest in innovation, and pay higher wages,” he says.
Image: Statistics NZ
5 comments
Wages
Posted on 13-03-2016 19:16 | By Kenworthlogger
So how come the wages never go up.... $10 tauranga....
really ?
Posted on 14-03-2016 05:24 | By tonyb1965
We are a small local business and in 2015 I did not see growth at all, so somebody getting it in fact we stopped drawing even the min wage so we could pay staff
Humming???
Posted on 14-03-2016 13:23 | By socantor01
If it was really is humming, then employers would share some of their super profits with their employees. Or is that a pipe dream? The rich get richer and the poor stay poor.
@ Muller
Posted on 15-03-2016 08:30 | By Towball
Looks great to present your coat tail opinion on the back of something you have had a paper review of, when the only real growth in our region is coming via the construction industry which is being fuelled by the obvious.
wages
Posted on 16-03-2016 20:58 | By 1973
I agree wages are still disappointing and it is still 10 or maybe $12 Tauranga. The rich get richer and should invest in Tauranga. Classic builders and others own most of the new subdivisons/land and house prices are out of whack. If you have a finance degree look elsewhere such as Melbourne as you only get offered around 50k here. Maybe in 100 years the wages will go up.
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