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Bay of Plenty resilience shines through in Infometrics economic profile
Infometrics has refreshed its Bay of Plenty economic profile for the year to March 2021, providing the first long-term insight into the regional impact of the 2020 lockdown and the first 12 months of the COVID-19 pandemic.
Overall, the Bay of Plenty has proven to be a resilient region, with little changes in most economic indicators over the time period.
While it is important to note this does not factor in any fallout from the August 2021 lockdown, the data provides a helpful overview of the region’s ability to weather adverse events.
GDP in Bay of Plenty Region measured $17,552m in the year to March 2021, up 0.3 per cent from a year earlier. New Zealand's GDP decreased by -1.2 per cent over the same period.
Other indicators also experienced positive growth, including employment (up 0.6 per cent from a year earlier), business growth (up 0.8 per cent) and estimated resident population (up 1.5 per cent).
While recognising these increases are slight, they suggest the Bay of Plenty remains an attractive place to live and work, despite the ongoing challenges experienced across Aotearoa.
Wednesday, February 16, 2022