Business

The combination of all passenger internal combustion vehicles experienced a more modest increase of 1.7%, amounting to $5.6 billion.

Business

1 year ago

EV imports to New Zealand surge as interest in greener vehicles grows

Imports of fully electric vehicles in New Zealand have more than doubled in value during the 12 months to March 2023, with a series...

Finance Minister Grant Robertson (L) and Social Development and Employment Minister Carmel Sepuloni

Business

1 year ago

Rising wages outpace inflation with more Kiwis in work

New Zealanders are experiencing record employment rates and increasing wages, with the government's economic plan generating additional jobs and higher earnings to help alleviate...

Apple season in New Zealand typically spans from February to October, with peak exports occurring between April and June.

Business

1 year ago

Napier port's apple exports remain stable despite decline in quantity

The apple export market demonstrates resilience as the value of exports from the port of Napier remains steady at $61 million, a slight 2%...

Meat and edible offal exports faced a decline in March 2023, falling by $66 million (6.6%) to $934 million compared to the same month in 2022.

Business

1 year ago

New Zealand trade deficit widens as imports surge in March 2023

The latest report from StatsNZ on overseas merchandise trade revealed that New Zealand's trade deficit widened in March 2023, as imports surged...

Housing and household utilities were the next largest contributors, with new house construction costs rising 11% in the 12 months to March 2023, following a 14% increase in the 12 months to December 2022. Rents increased by 4.3% in the same period.

Business

1 year ago

Housing and household utilities contribute to New Zealand's inflation spike

New Zealand's inflation rate has remained at levels unseen since the 1990s, with the consumers price index increasing by 6.7% in the 12 months...

Councils collect the Building Levy and retain a 3% fee to cover administrative costs. Minimal financial impact for councils is expected over the next three years, as the reduction in the fee should be offset by reduced workload.

Business

1 year ago

MBIE seeks feedback on building consent cost reduction proposals

The Ministry of Business, Innovation and Employment (MBIE) is requesting feedback on proposals to lower building consent costs and improve regulatory services using surplus...

The decline in household net worth can be attributed to a $12.3 billion or 1.0% drop in owner-occupied property values during the December quarter.

Business

1 year ago

Unravelling the housing market dilemma: insights from the Reserve Bank of New Zealand's discussion paper

A Discussion Paper published by the Reserve Bank of New Zealand on Thursday examined the two types of unsustainability that influence housing market. The...