Māori entities have grown from contributing $17 billion to New Zealand's GDP in 2018 to $32 billion in 2023. Photo: 123RF
Māori contributions to the economy have far surpassed the projected goal of '$100 billion by 2030,' a new report has revealed.
The report conducted by the Ministry of Business, Innovation and Employment's (MBIE) and Te Puni Kōkiri, Te Ōhanga Māori 2023, shows Māori entities have grown from contributing $17 billion to New Zealand's GDP in 2018 to $32 billion in 2023, turning a 6.5 percent contribution to GDP into 8.9 percent.
The Māori asset base has grown from $69 billion in 2018 to $126 billion in 2023 - an increase of 83 percent.
Of that sum, there is $66b in assets for Māori businesses and employers, $19b in assets for self-employed Māori and $41b in assets for Māori trusts, incorporations, and other Māori collectives including post settlement entities.
In 2018, $4.2b of New Zealand's economy came from agriculture, forestry, and fishing which made it the main contributor.
Now, administrative, support, and professional services have taken the lead contributing $5.1b in 2023.
However, Māori collectives own around half of all of New Zealand's agriculture, forestry, and fishing assets and remain the highest asset-rich sector.
Te Rūnanga o Toa Rangatira manages political and public interests on behalf of Ngāti Toa including political interests, treaty claims, fisheries, health and social services, and environmental kaitiakitanga.
Tumu Whakarae (CEO) Helmut Modlik said they are not focused on making money, but on "those who need it most".
Helmut Modlik. Photo: Alicia Scott - Photographer
Ngāti Toa invested in water infrastructure and environmental projects, with a drive to replenish the whenua and improve community health. Like many iwi, they also invest in enterprises that deliver essential services such as health, housing and education.
"We focus on long-term benefits rather than short-term gains, ensuring that our investments contribute to the sustainable development of our community," Modlik said.
Between Covid-19 lockdown and 2023, the iwi grew their assets from $220 million to $850 million and increased their staff from 120 to over 600.
Pou Ōhanga (Chief Economic Development & Investment Officer) Boyd Scirkovich said they took a 'people first' approach to decision making.
"We focused on building local capacity and ensuring that our people had the resources and support they needed to navigate the challenges of the pandemic."
The kinds of jobs Māori are working are also changing.
Māori workers now hold more high-skilled jobs than low-skilled jobs with 46 percent in high-skilled jobs, 14 percent in skilled jobs, and 40 percent in low-skilled jobs.
That is compared to 2018 when 37 percent of Māori were in high-skilled jobs and 51 percent in low-skilled jobs.
Te Matapihi, a publicly accessible online data dashboard, has been created to compare data from 2018 and 2023.
