Business sector snapshot
After a long recession, economic activity in New Zealand has begun to pick up, albeit at a gradual pace. Output in the national economy is rising, primarily on the back of a strong rebound in exports. An increase in domestic spending and investment in late 2009 and early 2010 has also contributed to growth. While the surge currently remains modest, stable employment, financial markets and retail investments are slowly gaining in momentum.
Beyond 2014, the economy looks very optimistic, with more significant growth to be expected in both business and residential investments. The New Zealand dollar continues to trade high and is expected to hold back growth on exports until at least 2016; however, global demand for New Zealand product will see strong growth in export markets going forward.
This economic climate provides the perfect environment for Upper Hutt investment, meaning investors can capitalise on lower property prices and establish operations and local markets at a time when consumer confidence is elevated. Return on investment, particularly for those preparing to export, will begin to flourish as the dollar slowly declines and international economies recover.
- In 2013, Upper Hutt City generated $1.2 billion in GDP. This was up 0.9% from a year earlier.
- Employment in Upper Hutt City grew at an average rate of 0.9% per annum between 2003 and 2013.
- The number of businesses operating in Upper Hutt City mirrors the national average at 1.8 percent growth per annum.
- Tertiary industries accounted for the largest proportion of GDP (76%) in Upper Hutt for 2013, which is higher than in the national economy (65%).
- More Upper Hutt residents work in public administration and safety than any other industry, making up 15.1% of our labour force.
- Upper Hutt’s manufacturing sector grew by 8.9% in 2013.
- City Centre retail and office space occupancy levels are consistently higher than the regional average.
- The largest area of employment in Upper Hutt City is the social services sector. In 2013, the social services sector contributed approximately $340 million to GDP.
Economic output in Upper Hutt’s construction sector grew by 7.9% in 2011 compared with growth of 3.6% in the sector nationally.
The sector contributed 4.8% to the district’s economic output in 2011, up from 4.6% ten years earlier… read more
Retail and wholesale trade »
Economic output in Upper Hutt City’s retail and wholesale sector is experiencing growth each quarter of 2.9%. This is consistent with growth around the region of 2.75%.
The sector contributed 24.6% to the districts economic output in 2011, up from 21.6 ten years earlier… read more
Metal product manufacturing »
Economic output in Upper Hutt’s metal product manufacturing sector grew by 11.5% in 2011 compared with growth of 7.3% in the sector nationally.
The sector contributed 1.1% to the district’s economic output in 2011, up from 0.8% ten years earlier… read more
Central and local government and defence
Economic output in Upper Hutt’s central and local government and defence sector grew by 13.2% in 2011 compared with growth of 0.4% in the sector nationally.
The sector contributed 16.7% to the district’s economic output in 2011, up from 12.1% ten years earlier.
Tourism and hospitality »
As the gateway to the region, Upper Hutt has a sound proposition to visitors wanting an authentic Kiwi experience… read more
Wellington is home to a collective of world-leading businesses, artisans and filmmakers—all within close proximity of one another. Upper Hutt’s scenery and infrastructure are continuing to feature in an ever-expanding list of productions… read more
Last updated on 19 Dec 2017