Key Points

Primary Sector

• The medium term outlook for agriculture and other primary sector industries remains positive.
• The flow on effects of the GATT agreement and subsequent changes in agricultural subsidies and trade policies in the European Union and the United States are expected to boost prospects for local agriculture.
• Expected growth in the economies of our major trading partners, particularly in Asia, is also expected to increase demand for New Zealand’s primary products.

Secondary Sector

• In general, the secondary sector has grown strongly over the last four years.
• However the rate of growth over the last financial year has slowed.
• Medium to long term prospects for the sector remain favourable.

Service Sector

• Service Sector industries have grown strongly over the last four years.
• While growth rates have slowed, they remain well above those recorded for other sections of the local economy.
• Employment in the sector continues to expand.
• Medium to long term prospects remain favourable for all sections of the group.