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 aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)