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==Economy of [[New Zealand]]==
==More on Economy of [[New Zealand]]==
 
*Economy - overview:
Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes - but left behind some at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income rose for ten consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, helping fuel a large balance of payments deficit that posed a challenge for economic managers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007-08; international capital inflows attracted to the high rates further strengthened the currency and housing market, however, aggravating the current account deficit. The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008-09. In line with global peers, the central bank cut interest rates aggressively and the government developed fiscal stimulus measures. The economy pulled out of recession late in 2009, and achieved 2-3% per year growth in 2010-13. Nevertheless, key trade sectors remain vulnerable to weak external demand. The government plans to raise productivity growth and develop infrastructure, while reining in government spending.
 
 
*GDP (purchasing power parity):
:$136 billion (2013 est.)
:country comparison to the world: 64
:$132.7 billion (2012 est.)
:$129.2 billion (2011 est.)
:note: data are in 2013 US dollars
 
*GDP (official exchange rate):
:$181.1 billion (2013 est.)
 
*GDP - real growth rate:
:2.5% (2013 est.)
:country comparison to the world: 130
:2.7% (2012 est.)
:1.4% (2011 est.)
 
*GDP - per capita (PPP):
:$30,400 (2013 est.)
:country comparison to the world: 46
:$29,900 (2012 est.)
:$29,300 (2011 est.)
:note: data are in 2013 US dollars
 
*Gross national saving:
:15.9% of GDP (2013 est.)
:country comparison to the world: 104
:14.5% of GDP (2012 est.)
:14.5% of GDP (2011 est.)
 
*GDP - composition, by end use:
:household consumption: 58.1%
:government consumption: 19.9%
:investment in fixed capital: 20.2%
:investment in inventories: 0.5%
:exports of goods and services: 30%
:imports of goods and services: -28.7%
(2013 est.)
 
*GDP - composition, by sector of origin:
:agriculture: 5%
:industry: 25.5%
:services: 69.5% (2013 est.)
 
*Agriculture - products:
:dairy products, lamb and mutton; wheat, barley, potatoes, pulses, fruits, vegetables; wool, beef; fish
 
*Industries:
:food processing, wood and paper products, textiles, machinery, transportation equipment, banking, insurance, tourism, mining
 
*Industrial production growth rate:
:1.9% (2013 est.)
:country comparison to the world: 128
 
*Labor force:
:2.413 million (2013 est.)
:country comparison to the world: 113
 
*Labor force - by occupation:
:agriculture: 7%
:industry: 19%
:services: 74% (2006 est.)
 
*Unemployment rate:
:6.4% (2013 est.)
:country comparison to the world: 66
:6.9% (2012 est.)
:Population below poverty line: NA%
 
*Household income or consumption by percentage share:
:lowest 10%: NA%
:highest 10%: NA%
 
*Distribution of family income - Gini index: 36.2 (1997)
:country comparison to the world: 86
 
*Budget:
:revenues: $69.17 billion
:expenditures: $72.65 billion (2013 est.)
 
*Taxes and other revenues:
:38.2% of GDP (2013 est.)
:country comparison to the world: 51
:Budget surplus (+) or deficit (-):
:-1.9% of GDP (2013 est.)
:country comparison to the world: 86
 
*Public debt:
:38.4% of GDP (2013 est.)
:country comparison to the world: 98
:38.1% of GDP (2012 est.)
 
*Fiscal year:
:1 April - 31 March
:note: this is the fiscal year for tax purposes
 
*Inflation rate (consumer prices):
:1.3% (2013 est.)
:country comparison to the world: 37
:1.1% (2012 est.)
 
*Central bank discount rate:
:2.5% (31 December 2009)
:country comparison to the world: 70
:5% (31 December 2008)
 
*Commercial bank prime lending rate:
:5.7% (31 December 2013 est.)
:country comparison to the world: 135
:5.82% (31 December 2012 est.)
 
*Stock of narrow money:
:$30.03 billion (31 December 2013 est.)
:country comparison to the world: 60
$29.87 billion (31 December 2012 est.)
 
*Stock of broad money:
:$91.28 billion (31 December 2013 est.)
:country comparison to the world: 56
:$84.55 billion (31 December 2012 est.)
 
*Stock of domestic credit:
:$256.3 billion (31 December 2013 est.)
:country comparison to the world: 37
:$265.6 billion (31 December 2012 est.)
 
*Market value of publicly traded shares:
:$NA (31 December 2012 est.)
:country comparison to the world: 41
:$71.66 billion (31 December 2011)
:$71.83 billion (31 December 2010 est.)
 
*Current account balance:
:-$8.358 billion (2013 est.)
:country comparison to the world: 173
:-$8.508 billion (2012 est.)
 
*Exports:
:$37.84 billion (2013 est.)
:country comparison to the world: 62
:$37.87 billion (2012 est.)
 
*Exports - commodities: dairy products, meat, wood and wood products, fish, machinery
*Exports - partners: Australia 21.1%, China 15%, US 9.2%, Japan 7% (2012)
*Imports: $37.35 billion (2013 est.)
:country comparison to the world: 63
:$37.04 billion (2012 est.)
 
*Imports - commodities: machinery and equipment, vehicles, aircraft, petroleum, electronics, textiles, plastics
*Imports - partners: China 16.4%, Australia 15.2%, US 9.3%, Japan 6.5%, Singapore 4.8%, Germany 4.4% (2012)
 
*Reserves of foreign exchange and gold:
:$20.01 billion (31 December 2013 est.)
:country comparison to the world: 60
:$17.58 billion (31 December 2012 est.)
 
*Debt - external:
:$81.36 billion (31 December 2013 est.)
:country comparison to the world: 52
:$85.18 billion (31 December 2012 est.)
 
*Stock of direct foreign investment - at home:
:$84.2 billion (31 December 2013 est.)
:country comparison to the world: 46
:$81.36 billion (31 December 2012 est.)
 
*Stock of direct foreign investment - abroad:
:$59.08 billion (31 December 2009)
:country comparison to the world: 37
 
*Exchange rates:
:New Zealand dollars (NZD) per US dollar -
:1.247 (2013 est.)
:1.2334 (2012 est.)
:1.3874 (2010 est.)
:1.6002 (2009)
:1.4151 (2008)

Revision as of 03:25, 8 March 2015

More on Economy of New Zealand

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