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    New Zealand Economy - 2003
    http://www.theodora.com/wfb2003/new_zealand/new_zealand_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: Since 1984 the government has accomplished major economic restructuring, transforming 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 many at the bottom of the ladder), broadened and deepened the technological capabilities of the industrial sector, and contained inflationary pressures. While per capita incomes have been rising, however, they remain below the level of the four largest EU economies, and there is some government concern that New Zealand is not closing the gap. New Zealand is heavily dependent on trade - particularly in agricultural products - to drive growth, and it has been affected by the global economic slowdown and the slump in commodity prices. Thus far the New Zealand economy has been relatively resilient, although growth may slow to 2.5% in 2003.


      GDP: purchasing power parity - $78.8 billion (2002 est.)


      GDP - real growth rate: 4.4% (2002 est.)


      GDP - per capita: purchasing power parity - $20,200 (2002 est.)


      GDP - composition by sector: agriculture: 8%
      industry: 23%
      services: 69% (2001)


      Population below poverty line: NA%


      Household income or consumption by percentage share: lowest 10%: 0.3%
      highest 10%: 29.8% (1991 est.)


      Inflation rate (consumer prices): 2.7% (2002 est.)


      Labor force: 1.92 million (2001 est.)


      Labor force - by occupation: services 65%, industry 25%, agriculture 10% (1995)


      Unemployment rate: 5.3% (2002 est.)


      Budget: revenues: $29.2 billion
      expenditures: $31.2 billion, including capital expenditures of $NA (2002)


      Industries: food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism, mining


      Industrial production growth rate: 3% (2001 est.)


      Electricity - production: 37.51 billion kWh (2001)


      Electricity - production by source: fossil fuel: 31.6%
      hydro: 57.8%
      other: 10.7% (2001)
      nuclear: 0%


      Electricity - consumption: 34.88 billion kWh (2001)


      Electricity - exports: 0 kWh (2001)


      Electricity - imports: 0 kWh (2001)


      Oil - production: 42,160 bbl/day (2001 est.)


      Oil - consumption: 132,700 bbl/day (2001 est.)


      Oil - exports: 30,220 bbl/day (2001)


      Oil - imports: 119,700 bbl/day (2001)


      Oil - proved reserves: 89.62 million bbl (January 2002 est.)


      Natural gas - proved reserves: 58.94 billion cu m (January 2002 est.)


      Agriculture - products: wheat, barley, potatoes, pulses, fruits, vegetables; wool, beef, dairy products; fish


      Exports: $15 billion (2002 est.)


      Exports - commodities: dairy products, meat, wood and wood products, fish, machinery


      Exports - partners: Australia 18.8%, US 14.4%, Japan 12.2%, UK 4.8%, South Korea, China (2001)


      Imports: $12.5 billion (2001 est.)


      Imports - commodities: machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics


      Imports - partners: Australia 21.9%, US 15.9%, Japan 11.0%, UK 3.8%, China, Germany (2001)


      Debt - external: $33 billion (2002 est.)


      Economic aid - donor: ODA, $99.7 million


      Currency: New Zealand dollar (NZD)


      Currency code: NZD


      Exchange rates: New Zealand dollars per US dollar - 2.1622 (2002), 2.3788 (2001), 2.2012 (2000), 1.8896 (1999), 1.8683 (1998)


      Fiscal year: 1 July - 30 June


      NOTE: The information regarding New Zealand on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about New Zealand Economy 2003 should be addressed to the CIA.

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    http://www.theodora.com/wfb2003/new_zealand/new_zealand_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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