Hello, my name is Anthony Ritz and I am in Dr. Fleury Macroeconomics class. The country I chose was New Zealand. New Zealand is located in the South Pacific near Australia. New Zealand's government is known as a Parliamentary democracy. New Zealand is known for a market economy and is based on international trade. An interesting fact on New Zealand's economy is they are known as one of the most business-friendly country in the world according to the World Bank. New Zealand does most their trading with Australia, the European Union, the United States, China and Japan. Their exports are tourism destination, dairy products, meat, wood and wood products, fish, and machinery. Despite, having a good economy during the current global market crisis; New Zealand has not always been a market economy. Before 1984, New Zealand was an agrarian economy that was dependent on England. Since the change, New Zealand has had the lowest inflation percentage when compared to other industrial countries. Below are some statistics and facts on New Zealand's economy.
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 2.17 million (2009 est.)
Labour force
by occupation agriculture (10%), industry (25%), services (65%) (1995 est.)
Unemployment 6% (2009 est.)
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
