Economic overview

A secure foundation for your business
Auckland is one of the most business-friendly markets in the world. The city is New Zealand’s largest economy and it continues to grow. Auckland accounts for 35 per cent of New Zealand’s GDP and is unique in the world in its scale to the national economy.  Auckland’s GDP is growing at 2.9 per cent per annum, and this growth is creating new investment opportunities in a range of sectors, attracting innovators and entrepreneurs from around the world.
Auckland has excellent infrastructure across transport, logistics and telecommunications.

Working with the world

Auckland is a major national gateway for imports and exports. New Zealand's geographic proximity and extensive free-trade agreements, particularly in the Asia-Pacific region, provide access to key global markets and pave the way for a smoother investment and trade process.

New Zealand has spread its wings over the past decade, particularly in the emerging economies of Asia and the Middle East. New Zealand operates an open, globally competitive marketplace, and the trade agreements have increased its domestic wealth and helped to grow the economy.
 

Transport and freight

Auckland has excellent infrastructure across transport, logistics and telecommunications. Most major international airlines serve our international airport, with global and regional shipping lines serving port facilities.

By value, Auckland's sea and land ports handle around 60 per cent of New Zealand’s imports and 30 per cent of exports. Auckland’s airport handles 74 per cent of New Zealand’s international arrivals and 85 per cent of airfreight, while the sea port is 30 per cent (source: Auckland Airport, Ministry of Transport).

New Zealand also has an extensive road and rail transport system, with further infrastructure investment planned by local and central government.
 

Banking

The Reserve Bank of New Zealand supervises New Zealand's banking system and its main function is to implement the central government’s monetary policy and to maintain financial stability. It also registers and supervises other banks. The Reserve Bank's monetary policy, defined by the Policy Target Agreement with the Government, is to maintain inflation at between 1 and 3 per cent on average over the medium term.

New Zealand has an open door policy on bank registration, with 23 banks currently registered in New Zealand. As New Zealand’s business and financial hub, Auckland is head office for most of these banks, with banks from India and China most recently registering in Auckland.

ANZ Bank New Zealand Ltd
ASB Bank Limited
Australia and New Zealand Banking Group Limited
Bank of Baroda (New Zealand) Limited
Bank of India (New Zealand) Limited
Bank of New Zealand
China Construction Bank
Citibank NA
Commonwealth Bank of Australia
Deutsche Bank A G
Heartland Bank Limited
Industrial and Commercial Bank of China (New Zealand) Limited
JPMorgan Chase Bank NA
Kiwibank Limited
Kookmin Bank
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. trading as Rabobank Nederland
Rabobank New Zealand Limited
Southland Building Society
The Bank of Tokyo-Mitsubishi UFJ Limited
The Co-operative Bank Limited
The Hongkong and Shanghai Banking Corporation Limited
TSB Bank Limited
Westpac Banking Corporation
Westpac New Zealand Limited


 

Sophisticated telecommunications

New Zealand's telecommunications infrastructure includes international broadband submarine cable systems and competitive onshore mobile networks.

The Southern Cross Cable alone delivers 240Gbit/s of fully protected bandwidth to the United States mainland, Hawaii, Australia and Fiji. As demand increases, capacity can be doubled to 480Gbit/s. Two further submarine cables are underway, providing Auckland with increased redundancy.

The New Zealand Government has initiated a $1.5 billion programme partnering with the private sector to deliver fibre broadband capacity to businesses, health institutions, schools and homes. 3G mobile networks are operating and the rollout of a 4G mobile network is currently underway.

The rollout is bringing up to 100Mbps fibre even closer to homes and businesses in Auckland. This fibre to the premises network means it will be possible to deliver the highest data speeds that can support services like internet television and high definition video conferencing. The programme involves laying thousands of kilometres of fibre optic cable and ducting in Auckland. Schools will receive first priority.

Auckland is well served by 27 internet service providers.