2021-07-26 01:05:57 GMT2021-07-26 09:05:57(Beijing Time) Xinhua English
WELLINGTON, July 26 (Xinhua) Property became New Zealand s largest industry, contributing 41.2 billion New Zealand dollars (about 28.7 billion U.S. dollars), or 15 percent of its total GDP in 2019, according to a new survey from the Property Council New Zealand.
The Property Council New Zealand Chief Executive Leonie Freeman said Monday that the Property Industry Impact Report 2021, commissioned by the council in partnership with Urban Economics, underscores the impact of the sector, with property out-gunning other top GDP contributors such as manufacturing (11 percent), agriculture (6 percent) and health (7 percent).
In 2019, the wider economic impact of the property industry was 115.6 billion New Zealand dollars, including a direct impact of 41.2 billion New Zealand dollars plus cumulative supplier and employee activity. As a sector, property employs 9 percent of New Zealand s workforce, said Freema
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