Strong sugar prices lift figures
STRONGER sugar prices and continuing growth within the horticultural sector has contributed to the Bundaberg region's Gross Regional Product figures outperforming the state's overall gross product for the 2010/2011 financial year.
Figures compiled by economist Reuben Lawrence for Bundaberg Regional Council show the Bundaberg region's Gross Regional Product increased from $3.3 billion in 2009/2010 to $3.7 billion last financial year.
Mayor Lorraine Pyefinch said this represented an increase of 2.4% compared with only a 0.2% rise in Gross State Product for Queensland last financial year.
"Compared to figures which show Gross Regional Product growth rates at minus 0.9% for the Fraser Coast and minus 10.3% for the Wide Bay Burnett region, the Bundaberg region has performed extremely well," Cr Pyefinch said.
"The main contributors to the Bundaberg region increase were the agricultural, forestry and fishing sectors with approximately $409.8 million, or 11.1% of the total GRP, coming from these sectors."
Cr Pyefinch said within the agricultural sector, the sugar and agricultural industries, including tree and small crops, had contributed greatly to the increases.