The transport industry boasted an increase in value last quarter despite a fluctuating service industry.
GDP from transport in New Zealand increased to $2,979 million in the first quarter of 2019, up from $2,947 million in the fourth quarter of 2018.
The increase is in line with the growing gross domestic product up 0.6 percent in the March 2019 quarter, following a 0.6 percent rise in the December 2018 quarter, Stats NZ have announced.
“Construction was the main contributor to GDP growth this quarter, rising 3.7 percent, on top of a 2.2 percent increase in the previous quarter,” national accounts senior manager Gary Dunnet said.
CEO of Partners Finance & Lease, Francis Fitzgerald commented: “We’re seeing a strong upturn in demand for vehicles across the country, particularly within the construction and tourism space. While this is great news for New Zealand business, we’re keeping a close eye on how the transport industry develops, particularly with further developments and demand for electric-powered vehicles.”