There’s a clear and direct relationship between economic growth and trucking activity. New Zealand research shows that a 1% growth in national output requires around a 1.4% increase in transport services.
As New Zealand’s economy expands trucks will be needed to keep the country growing. It is expected that trucks will still carry over 90% of all domestic freight in 2042.
Because of the vital role trucks play, changes in road transport charges have a direct impact on New Zealand’s economic performance. A 2002 study by Infometrics found that a 10% reduction in road transport freight rates would:
- Create 33,000 new jobs
- Increase GDP by 3.7%
- Boost exports by 3.9% or more than $1.5 billion
A 10% increase in road freight rates would:
- Cut 20,000 full time jobs
- Reduce GDP by 1.6%
- Cut exports by 1.7%
Road transport is particularly important to regional New Zealand and the export industries which drive these local economies. Trucks carry:
- 95% of export fruit
- 86% of export wool
- 85% of export dairy products
- 65% of export logs
- 35% of export meat
Collectively these exports are worth nearly $21 billion a year in overseas earnings.