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)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)