SUPPLY chain delays – caused by strict COVID lockdowns, climate change and the war in Ukraine – are costing the New Zealand economy a staggering $1.7 billion a year in lost revenue, according to new analysis by TMX Transform.
TMX Transform NZ General Manager, Caleb Nicolson, said the New Zealand economy is now worth $360 billion, and with supply chain unreliability costing companies 0.47% on average in lost revenue around the world, New Zealand firms are forfeiting $1.69 billion a year in sales.
“New Zealand is more exposed to global supply chain troubles than most other developed nations. As the world emerges from COVID-induced lockdowns, we are witnessing disruption at each stage of New Zealand’s supply chain including production, transportation and distribution,” Mr Nicolson said.
To read Stuff.co.nz’s interview with Caleb, click here.