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Dairy Sector's Economic Contribution To NZ | Waibury Blog

Tuesday, 28 February 2017 at 9:24am

Dairy Sector's Economic Contribution To NZ. Waibury blog

 

The New Zealand dairy industry remains a significant player to the country's economy according to the latest report by the New Zealand Institute of Economic Research (NZIER) and Dairy Companies Association of New Zealand (DCANZ).

 

The report, Dairy trade’s economic contribution to New Zealand, states that currently the dairy industry contributes $7.8 billion to New Zealand's total GDP in the year to March 2016.  $6 billion was from dairy farming and $1.9 billion was from dairy processing.  That figure is despite instability with dairy prices at the Global Dairy Trade (GDT) auctions over the last 2 years.  

 

The dairy sector in New Zealand now employs more than 40,000 workers, with jobs in this sector growing twice as fast as total employment.  The report clearly shows that the dairy industry is resilient and the future looks strong, with predictions of increasing demand globally for dairy products and potential for new emerging markets in Asia and Africa.

 

Read more about the report in this NZ Herald Article: http://www.nzherald.co.nz/the-country/dairy-industry/news/article.cfm?c_id=168&objectid=11811317