Economy of New Zealand
Economy of New Zealand
Currency
1 New Zealand Dollar
(NZD$) = 100 cents
Fiscal year
1 April - 31 March
Trade
organisations
APEC, WTO and OECD
Statistics
GDP
$128.141 billion (2007 est.)
GDP growth
3.0% (2007 est.)
GDP per capita $30,234 (2007 est.)
GDP by sector
agriculture (4.6%), industry
(27.4%), services (68%)
(2004 est.)
Inflation (CPI)
3.9% (2005 est.)
Population
below poverty
line
n/a
Labour force
2.05 million (2004 est.)
Labour force
by occupation
agriculture (10%), industry
(25%), services (65%) (1995
est.)
Unemployment 3.4% (Dec 2007)
Main
industries
Food processing, Textiles,
Machinery and
Transportation equipment,
Finance, Tourism (in NZ),
Mining
External
Exports
$29.2 billion (2005)
Export goods
tourism destination, dairy
products, meat, wood and
wood products, fish,
machinery
Main export
partners
Australia 19.6%, U.S. 14.3%,
Japan 11.4%, the People’s
Republic of China 6.3%, UK
5.1% (2004)
Imports
$ 35.8 billion (2005)
Import goods
machinery and equipment,
vehicles and aircraft,
petroleum, electronics,
textiles, plastics
Main import
partners
Australia 28.6%, Japan
10.7%, U.S. 10%, the
People’s Republic of China
6.6%, Germany 4.2%,
Singapore 4.1% (2004)
Public finances
Public Debt
$42.84 billion (2005 est.)
Revenues
$38.29 billion (2004)
Expenses
$36.12 billion (2004)
Economic aid
donor: $99.7 million (FY99/
00)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
The Economy of New Zealand is a market
economy which is greatly dependent on inter-
national trade, mainly with Australia, the
European Union, the United States, China
and Japan. It is also strongly focused on tour-
ism and primary industries like agriculture
(though both sectors are highly profitable),
while having only small manufacturing and
high-tech components. Economic free-market
reforms of the last decades have removed
many barriers to foreign investment, and the
World Bank in 2005 praised New Zealand as
being the most business-friendly country in
the world, before Singap