Foreword
This report provides a baseline set of growth and innovation indicators for the New Zealand economy. These indicators paint a picture of the economic environment that results from actions taken by businesses, sectors, regions and central and local government.
The indicators go beyond measuring changes in income. As the report outlines, there are also indicators of innovation, the supply of skilled and talented people, the nature and extent of global connections, and the focal sectors - biotechnology, information and communications technologies (ICT) and the creative industries.
The indicators provide no particular surprises. They reinforce the need to improve New Zealand's per capita income growth and productivity already outlined in Growing an Innovative New Zealand, the government's growth and innovation framework, and other recent commentaries on the New Zealand economy.
The improvement in New Zealand's performance in research and development (R&D) by sector and in openness outlined in the report are a sign that things are moving in the right direction. But this starting point is low to average compared with the performance of other OECD countries. Government policy has a role in addressing this situation and its growth and innovation framework sets the direction for ongoing policy development across the public sector.
The framework also stresses partnership with businesses, unions, and local government. Communication is needed in developing that partnership. The indicators are intended to help communicate and continue a dialogue about the key elements of the growth and innovation framework that contribute to the overall sustainable economic development objective.
The results of that dialogue and other responses to this initial growth and innovation indicator report will help to refine the indicators. A refined set of indicators will form the basis of an update report within the next few years, when new data are available and changes in the indicators can be assessed.
Geoff Dangerfield
Chief Executive
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