Opinion

Ukraine invasion – potential impact on NZ economy

Brian Gaynor
Sat, 26 Mar 2022

Ukraine invasion – potential impact on NZ economy
A roadblock in rural Ukraine, a traditional breadbasket for Europe. (Image: Getty)
Brian Gaynor
Sat, 26 Mar 2022
As the Russian invasion of Ukraine enters its fifth week, it is worth noting that the New Zealand economy has benefited from major military conflicts in the past.For example, the country’s three best GDP growth years since 1920 have been as follows:15.6% GDP growth in 1951, mainly because of the Korean War.15.3% in 1937 as the economy recovered from the Great Depression.12.6% growth in 1943, mainly due to World War 11.NZ is a soft commodity producer and overseas commentators are suggesting that the Russia-Ukraine conflict could lead to a...

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