Local Glass Industry Set To Grow Its Contribution To The NZ Economy
The glass and window industry is a small but vital part of the New Zealand economy. While there has been some decline in recent years, mainly due to increased imports, the sector is still going strong and provides good jobs for Kiwis according to StakeGlass.
CHRISTCHURCH, New Zealand, Sept. 1, 2022 /PRNewswire-PRWeb/ -- Since the early 1800s, NZ has favoured locally produced as opposed to imported glass products. According to Stake Glass, a glass supplier operating in Christchurch, this long history of local production has resulted in the glass industry forming a vital part of the country's economy, with predictions of the sector becoming an increasingly valuable contributor to the national GDP in the years to come.
Currently, Stake Glass notes that despite holding a smaller market share than the likes of agriculture, the glass industry functions as an impressive contributor to the national economy. In particular, the glass sector forms part of the over 11% employment contribution offered by the manufacturing sector as a whole. And these employment rates are not inclusive of those working in glass-adjacent fields like design, transport, fitting, recycling, construction, or retail, which raises the glass-associated total local employment rate considerably.
The glass manufacturing industry – in conjunction with the aligned paper and wood sector – presently contributes an average of just over $2 billion to the country's GDP, annually. This contribution is set to grow in the foreseeable future as NZ undertakes more construction to address the national housing shortage.
NZ's concerted effort to lower its national carbon footprint is also leading to general growth in the glass industry, with manufacturers and retailers catering to increased consumer demand for the likes of double-glazed windows and associated insulation products.
For companies like Stake Glass, which specialises in an array of commercial and domestic glass offerings, the sector's growth over the past few years is a promising predictor of things to come. While the glass industry in NZ may never reach the heights, popularity, or economic status of the country's more primary sectors, it certainly has staying power, fills a vital gap in the country's economy, and offers enticing investment opportunities.
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SOURCE Stake Glass
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