Kaikōura earthquake: New Zealand loses $500m GDP
The impact on New Zealand's Gross Domestic Product (GDP) over the 18 months following the Kaikōura earthquake has been estimated at $450-$500 million, a new Government-commissioned report says.
The estimated loss is made up of $110-$130 million (25 percent of the total impact) in Canterbury and $340-$370 million (75 percent of the impact) across the rest of New Zealand, Economic Development and Transport Minister Simon Bridges says.
"The quake has had a significant effect on people's lives and businesses which the Government is strongly focused on supporting," he says.
"As well as the Kaikōura economy, the report shows the national economy has also felt the impact.
"Increased freight transport costs and impacts on businesses from infrastructure damage and transport disruptions are the two key contributing factors."
The report assessed the impact on small businesses and tourism caused by disruptions to transport infrastructure.