Articles tagged with Economy
Strong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
1 day ago | 52 viewsFinance Minister Nicola Willis welcomed the strong 1.1% economic growth in the third quarter, driven by 14 of 16 sectors, signaling a positive turnaround after challenging years. Key job-rich sectors like manufacturing, construction, and business services showed significant growth, alongside increases in exports and investment, indicating promising future job prospects and higher incomes. With GDP per capita rising 0.9% and forecasts predicting accelerated growth and lower unemployment next year, the government’s strategy to strengthen the economy appears effective.
Tags: economy growth Nicola Willis Finance Minister Stats NZ Treasury Reserve Bank manufacturing sector construction business services GDP per capitaInvestNZ Launches Strategic Growth Areas and Investment Prospectuses for NZ
2 weeks ago | 82 viewsTrade and Investment Minister Todd McClay announced the launch of Invest New Zealand, an agency focused on attracting significant foreign investment to boost the economy by targeting projects from $20 million to $1 billion and advising on supportive policies. InvestNZ will prioritize six strategic growth areas, including renewable energy, technology, and advanced manufacturing, while acting as a bridge between local investors and high-value opportunities. Additionally, three investment prospectuses for Tourism, Wood Processing, and Innovative Food Production were introduced to showcase New Zealand's competitive sectors and attract global investors.
Tags: Todd McClay Invest New Zealand Foreign Direct Investment InvestNZ Active Investor Plus Auckland Business Chamber Tourism Wood Processing Innovative Food Production New Zealand economyNew Zealand Tourism Booms with 6% More Visitors and $12.3B Spend in 2025
2 weeks ago | 93 viewsInternational visitors to New Zealand are increasing in number and spending more, driving significant growth in the tourism sector and economy, with total spending reaching $12.3 billion for the year ending September 2025. Visitor numbers rose to 3.43 million, reaching 88% of pre-pandemic levels, boosted by higher-spending travelers, especially from the USA. The government supports this growth through the Tourism Growth Roadmap, aiming to double tourism export value by 2034 while enhancing visitor experiences and regional opportunities.
Tags: Louise Upston New Zealand Tourism International Visitors USA MBIE Tourism Growth Roadmap Hospitality Economy Visitor SurveyNZ Climate Change Minister Attends COP30 in Brazil to Drive Global Climate Action
1 month ago | 166 viewsClimate Change Minister Simon Watts will attend COP30 in Belém, Brazil, emphasizing the need for all countries to take meaningful climate action in line with the Paris Agreement. He aims to deepen cooperation for New Zealand's transition to a low-emission economy through innovation and investment. Additionally, Mr Watts will meet with global counterparts and promote New Zealand companies in São Paulo before returning on November 21.
Tags: Simon Watts Climate Change Minister COP30 United Nations Belém Brazil Paris Agreement New Zealand economy Pacific regionCostco's Expansion Plans Bring Economic Boost to New Zealand Shoppers
1 month ago | 190 viewsUS supermarket giant Costco is planning to open a second store in South Auckland, welcomed by Economic Growth Minister Nicola Willis. The Government is facilitating quick approvals for new supermarkets through legislation and working closely with Costco for efficient consenting processes. Kiwi Property has agreed to sell land for the new Costco store, expected to boost the economy, create jobs, and enhance competition for shoppers.
Tags: Nicola Willis Costco New Zealand South Auckland Kiwi shoppers Economic Growth Minister Kiwi Property Drury Auckland’s economy construction jobsNew Zealand Labour Market Update: Government's Economic Rebuilding Efforts Highlighted
1 month ago | 207 viewsLabour market statistics released today show a slight increase in unemployment to 5.3% in the September quarter, aligning with forecasts. The Finance Minister emphasizes the government's commitment to rebuilding the economy and creating more job opportunities for New Zealanders. Efforts include reducing taxes, boosting investments, and supporting businesses to drive economic recovery and job growth.
Tags: Labour market statistics Government Economy Job opportunities Kiwis Finance Minister Nicola Willis Stats NZ Unemployment New ZealandersGovernment Invests $80M+ in Transformative Research for NZ Economy, Health, Environment
1 month ago | 207 viewsThe Government will invest over $80 million in transformative research projects for New Zealand's economy, health, and environment, led by Science, Innovation, and Technology Minister Dr Shane Reti. The funding includes 107 Marsden Fund projects over three years to support established and emerging scientists in innovative research for lasting benefits. The diverse portfolio of funded projects ranges from cancer treatment advancements to geothermal energy utilization, reflecting the commitment to fostering breakthrough discoveries and driving transformative knowledge for New Zealand's future.
Tags: Government research projects New Zealand economy health environment Science Innovation Technology Minister Dr Shane RetiIndian Minister Piyush Goyal Strengthens New Zealand-India Trade Ties
1 month ago | 223 viewsIndian Minister of Commerce and Industry Piyush Goyal will visit New Zealand to strengthen trade ties, reflecting the deepening relationship between the two countries over the past two years. The visit underscores the commitment of both governments to building a strategic and enduring partnership, with a focus on expanding trade and investment opportunities. Minister Goyal's agenda includes attending a business summit, engaging with the New Zealand-Indian community, visiting businesses in Rotorua, and discussing Free Trade Agreement negotiations with Trade and Investment Minister Todd McClay.
Tags: Piyush Goyal Todd McClay Droupadi Murmu Christopher Luxon Winston Peters India New Zealand Trade Economy BusinessNew Cycle Trails Boost Ruapehu Tourism and Economy
1 month ago | 179 viewsThe Government is funding the completion of Te Ara Mangawhero and Te Hangāruru trails, connecting them to create the Mountains to Sea – Ngā Ara Tūhono cycle journey, aiming to attract more visitors to the Ruapehu region and boost the Central North Island economy. These trails are crucial for completing the full 231km journey from Mount Ruapehu to the Tasman Sea, with only one section left to finish. The project, led by various trusts and organizations, emphasizes partnership, cultural significance, and environmental sustainability, with completion expected by early 2027 through funding from the International Visitor Levy and the Major Events and Tourism Package.
Tags: Ruapehu region Central North Island economy Te Ara Mangawhero Te Hangāruru trails Mountains to Sea Ngā Ara Tūhono cycle journey Louise Upston Tama Potaka Ngā Waihua o Paerangi Trust Te Korowai o WainuiāruaNew Zealand, Singapore, and Chile Launch Green Economy Partnership Agreement in Korea
1 month ago | 185 viewsPrime Minister Christopher Luxon and Minister for Trade and Investment Todd McClay, along with their Singaporean and Chilean counterparts, launched negotiations for the Green Economy Partnership Agreement (GEPA) in the Republic of Korea. The agreement aims to boost trade and investment opportunities in the global green economy, estimated to reach US$11 trillion by 2040, by focusing on areas such as sustainable finance, green goods and services, and low emissions fuel alternatives. The negotiations, set to continue until 2026, follow the signing of a Comprehensive Strategic Partnership with Singapore and underline New Zealand's commitment to meeting climate targets and fostering a greener economy through international collaboration.
Tags: Christopher Luxon Todd McClay New Zealand Singapore Chile Green Economy Partnership Agreement GEPA Republic of Korea trade agreements climate targetsMinister Andrew Hoggard Represents NZ at World Dairy Summit and Visits South American Agribusinesses
2 months ago | 258 viewsNew Zealand's Biosecurity, Food Safety, and Associate Agriculture Minister Andrew Hoggard is representing the country at the World Dairy Summit in Chile, where global dairy industry stakeholders convene annually. Hoggard aims to showcase New Zealand's efficient farming practices and discuss the country's innovative, sustainable dairy products at the event. The dairy sector's crucial role in global nutrition, economic support, and New Zealand's export growth strategy is emphasized through Hoggard's participation and upcoming engagements in Argentina and Uruguay.
Tags: Biosecurity Food Safety Agriculture Minister Andrew Hoggard New Zealand World Dairy Summit farmers dairy products nutrition economySimplifying Science Funding in New Zealand for Greater Impact
2 months ago | 225 viewsDr Shane Reti announced the establishment of Research Funding New Zealand, a single board to simplify science funding decisions in New Zealand based on recommendations from the Science System Advisory Group. The new system aims to reduce complexity and bureaucracy, allowing researchers to focus more on impactful research, innovation, and economic growth. Public investment in science will be redirected towards key areas like the economy, environment, health, and technology, with a phased transition over four years to ensure continuity and minimize disruption.
Tags: Shane Reti New Zealand Science Innovation Technology Funding Research Economy Health EnvironmentNew Zealand's Growing Space and Aviation Sectors: Scale, Ambition, and Global Impact
2 months ago | 283 viewsSpace Minister Judith Collins highlights the growth and global relevance of New Zealand's space and advanced aviation sectors, aiming to double their value by 2030. The sectors have seen significant revenue increases, with space sector revenues reaching $2.68 billion and advanced aviation sector revenue estimated at $530 million in 2024. New Zealand is focused on building a high-tech economy, establishing a world-leading regulatory environment, and developing sovereign space capabilities to address global challenges.
Tags: space advanced aviation sectors ambition global relevance Judith Collins New Zealand Aerospace Summit Christchurch economyNew Zealand's Bioeconomy Boost: Government Invests $42M in Biodiscovery Platform for High-Value Exports
2 months ago | 305 viewsThe New Zealand government is investing over $42 million in a Biodiscovery Platform to develop high-value pharmaceutical and bio-based exports from the country's natural resources. Led by the Bioeconomy Science Institute, this initiative aims to tap into the global market for bio-based products, particularly natural pharmaceuticals, which is expected to exceed $300 billion by 2027. By supporting research, innovation, and commercialization, the platform seeks to create jobs, grow businesses, and strengthen New Zealand's economy in alignment with the country's strategic focus on science and technology.
Tags: Shane Reti New Zealand Biodiscovery Platform Bioeconomy Science Institute pharmaceuticals innovation economy biodiversity export opportunitiesNew Zealand Defence Industry Strategy: Boosting Local Businesses and Resilience
2 months ago | 281 viewsNew Zealand's Defence Industry Strategy aims to support local businesses in delivering defence equipment and infrastructure, aligning with the 2025 Defence Capability Plan to double defence spending. The strategy emphasizes building a resilient industry to mitigate global tensions and enhance economic growth through collaboration with Kiwi innovators and major suppliers. Key actions include requiring multinational companies to partner with local businesses, establishing a Technology Accelerator, and creating offshore opportunities for showcasing New Zealand-made innovations to international partners.
Tags: Defence Minister Judith Collins Associate Defence Minister Chris Penk Defence Industry Strategy New Zealand industry Defence Capability Plan economy innovation technology suppliers