Economy
The Canterbury region’s economy is diversified into agriculture, industry, fishing, forestry, tourism and energy resources such as coal and hydropower. Its agriculture sector is also diversified into dairy farming, sheep farming and horticulture particularly viticulture. The strength of the region's agricultural economy is displayed every November at the Canterbury A&P Show. The show coincides with the regional anniversary day and Cup Week. During the interwar period, agricultural productivity was boosted by the introduction of mechanization, lime and the improvement of seed stocks. Canterbury is also New Zealand's main producer of cereal crops such as wheat, barley and oats. As of 2002, the region produced 60.7% of the nation's supply of wheat, 51.1% of its barley stocks and 43.7% of its supply of oats.
The region's viticulture industry was established by French settlers in Akaroa. Since then, wine-growing is concentrated into two regions: Waipara and Burnham. Recently there have been vintages from plantings from Kurow further to the south. White wine has typically predominated in Canterbury from Riesling, Sauvignon Blanc, Chardonnay, Gewürztraminer, and to a lesser extent Pinot Blanc and Pinot Gris. Pinot Noir has had some success in the province particularly in Waipara.
The sub-national GDP of the Canterbury region was estimated at US$15.074 billion in 2003, 12% of New Zealand's national GDP.
Read more about this topic: Canterbury Region
Famous quotes containing the word economy:
“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)
“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)