BRI NEWS Construction industry contributes greatly to New Zealand business growth: data

BRI NEWS

Construction industry contributes greatly to New Zealand business growth: data

Xinhua

15:50, October 25, 2019

WELLINGTON, Oct. 25 (Xinhua) -- The construction industry of New Zealand added 12,820 more enterprises and 45,400 more employees over the five-year period to February 2019, which was the highest gains by any of the 19 industries, the country's statistics department Stats NZ said on Friday.

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Photo: VCG

These increases reflected an average annual growth rate of 4.5 percent for enterprises and 6.1 percent for employees for the industry over the past five years. It was more than double the corresponding growth rates (2.0 percent and 2.7 percent, respectively) for all industries combined for the same period, Stats NZ said.

"In the year to February 2019, the construction industry added 3.9 percent more employees - the second-highest increase among all industries, both in number and percentage," business register manager Mary Reid said in a statement.

Until February 2019, there were 65,320 enterprises in the construction industry overall, engaging 177,000 employees. Of these, 21,650 enterprises were in the residential building construction industry sub-group, employing 30,300 people, statistics showed.

"Residential building construction had 52.4 percent more employees than five years ago, reflecting an average annual growth rate of 8.8 percent over the five-year period to February 2019," Reid said.

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