Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Rural contracting nears a billion-dollar-a-year industry

Rural contracting nears a billion-dollar-a-year industry

New Zealand’s rural contracting industry contributed almost a billion dollars to the country’s economy last year, according to recently published research.

Rural Contractors New Zealand (RCNZ) says a report, prepared for it by research company Infometrics, shows that the rural contracting sector contributed some $947 million to New Zealand’s GDP in 2013.

“This research shows that the rural contracting industry is not only a major contributor to our all-important agri-sector, but also a strong and vital part of New Zealand’s over all economy,” says RCNZ chief executive Roger Parton.
This contribution to the national economy came from some 5255 registered rural contracting businesses.

Mr Parton says the Infometrics research demonstrates how the rural contracting industry experienced rapid growth in economic output between 2000 and 2008 – expanding by 4.1% a year compared with the national economy growth of only 2.7% over the same period.

“The sector’s economic output peaked in 2008 and eased back in recent years, due to cautious spending in the agricultural sector in the aftermath of the GFC,” he adds. “However, Infometrics expects demand for rural contracting to expand back towards its previous peak again, as farmer confidence – buoyed by a sustained period of elevated commodity prices – returns in the coming years.”
Mr Parton says another key finding of the research is the nearly 18,000 people employed by rural contractors. The report found that an average of 17,984 people were employed in the rural contracting industry up until March 2013.

“This clearly demonstrates the growing importance and influence of rural contracting in the agricultural sector and the need for our politicians and policy makers to better understand the industry and its needs.

“This report also shows that the rural contracting sector is well and truly contributing – and will to contribute – to New Zealand’s ‘rock-star’ economy in the coming years ,” Mr Parton concluded.

[Ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Building Battle: Bill English Blames Council On Housing

The Nation: Finance Minister blames Auckland Council for housing shortage, saying it is responsible for land, housing and infrastructure supply in the city, while government provides rental subsidies... More>>

ALSO:

Megiaglommeration: NZME And Fairfax Apply For Authorisation To Merge

The Commerce Commission has received an application from Wilson and Horton Limited (trading as NZME) and Fairfax NZ Limited seeking authorisation to merge their media operations in New Zealand. More>>

ALSO:

Brewing: Lion To Buy Cult Upper Hutt Brewer Panhead

Lion - Beer, Spirits and Wine (NZ), New Zealand's biggest beer maker, has agreed to buy Panhead Custom Ales from the family of founder Mike Neilson, its second such purchase of a popular craft brewer after the acquisition of Dunedin-based Emerson's Brewing Co in 2012. More>>

ALSO:

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news