Reserve Bank Of New Zealand Welcomes The Release Of Te Ōhanga Māori 2023 Report

The Reserve Bank of New Zealand – Te Pūtea Matua welcomes the release of Te Ōhanga Māori 2023 report from the Ministry of Business, Innovation, and Employment and Business and Economic Research Limited. The report highlights that the Māori Economy continues to be a strong, growing, unique, and diversified component of the New Zealand economy.

“The ongoing development of the Māori economy is an essential component to the future growth and resilience of New Zealand. We recognise the economic potential of the Māori economy and are collaborating with others on improving Māori access to capital to help fully realise this potential,” Simone Robbers says.

The Māori economy had contributed $32 billion to Aotearoa New Zealand’s GDP in 2023, up from $17 billion in 2018, with the Māori asset base growing to $126 billion. The Māori economy is diversifying beyond traditional sectors such as agriculture, forestry, and fishing, with real estate, property services, and professional services now leading growth. It also highlights progress in Māori entrepreneurship, high-skilled employment, and workforce participation.

Te Ōhanga Māori 2023 report builds on a series of reports that deepen our collective understanding of the Māori economy, and will inform and shape ongoing RBNZ initiatives, including Māori access to capital research and dashboard, facilitating lending on whenua Māori, the Māori data pilot, Te Waka Hourua, our Te Ao Māori strategy, and related financial inclusion workstreams.

“The RBNZ is committed to uplifting the Māori economy to support the continued economic growth, wellbeing, and prosperity for Māori and all New Zealanders,” Ms Robbers says.

The Reserve Bank played a supporting role in the creation of the report, participating on the steering committee and working groups. MBIE led the development of the 2023 report based on the latest census.

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