Economy
The sub-national GDP of the Northland region was estimated at US$3.243 billion in 2003, 2% of New Zealand's national GDP.
The region's economy is based on agriculture (notably beef cattle), fishing, forestry, and horticulture. Citrus fruit makes up the majority of the latter industry, with lemons, oranges, and tamarillos all being produced. Avocados are also widely grown, as well as kumara (especially in Ruawai part of the Kaipara district). Olives are also being grown on the Aupouri Peninsula.
Extensive forests are a feature of the Northland landscape. For this reason wood and paper manufacturing industries also make a large contribution to the region's economy.
Northland is a favourite tourist destination, especially to the Bay of Islands and the historic town of Kerikeri. Diving and fishing are also popular visitor activities, especially around the Bay of Islands and the Poor Knights Islands.
Northland is home to New Zealand's only oil refinery, at Marsden Point, close to Whangarei. New Zealand's natural fuel resources in Taranaki account for a little under half of the refinery's intake, with the rest coming predominantly from the Middle East. The nearby Marsden A thermal power station originally utilised heavy oil from the refinery for electricity production, but no longer does so.
Read more about this topic: Northland Region
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)