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Marlborough economy hits $2.5 billion high, driven by wine industry
Mar 10, 2016
(Stuff) - Marlborough has experienced the third largest gross domestic product increase in New Zealand over the past five years, new figures show.
Statistics New Zealand released its annual regional GDP statistics this week, which showed Marlborough GDP increased to $2.5 billion in the year ending March 2015.
This was an increase of 2.2 per cent on the previous year and an increase of 28 per cent since 2010, the third highest in the country behind Canterbury and Auckland.
Statistics New Zealand said in a statement this was led by the manufacturing industry, which included food and beverages.
ASB rural economist Nathan Penny said this included the wine industry, which was the driving force behind the growing economy.
"The wine sector has been one of the stars for New Zealand exports over the past few years," he said.
The strength of the United States economy, which overtook Australia to become the biggest export market for New Zealand wine last year, was good news for Marlborough wine producers, he said.
The reputation the region had established as a producer of premium wines was a winning strategy, which kept prices and demand for Marlborough wine high, he said.
Statistics released by New Zealand Winegrowers earlier this year showed total New Zealand wine exports for 2015 had reached a record $1.54 billion.
Comments:
Mark Rattray
Mar 11, 2016
The Marlborough figure is the only REAL growth number in NZ. Canterbury is embellished by the Christchurch rebuild and Auckland by endless immigration.