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New Zealand Economy 2017
http://www.theodora.com/wfbcurrent/new_zealand/new_zealand_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











New Zealand Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Over the past 30 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, fueling a large balance of payments deficit that posed a challenge for policymakers. 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. The higher rate attracted international capital inflows, which strengthened the currency and housing market while 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 in 2009, and achieved 2%-3% growth from 2011 to 2015. Nevertheless, key trade sectors remain vulnerable to weak external demand and lower commodity prices. In the aftermath of the 2010 Canterbury earthquakes, the government has continued programs to expand export markets, develop capital markets, invest in innovation, raise productivity growth, and develop infrastructure, while easing its fiscal austerity.

GDP (purchasing power parity):
$174.8 billion (2016 est.) $170.1 billion (2015 est.) $165.2 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 68
[see also: GDP country ranks ]

GDP (official exchange rate):
$179.4 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2016 est.) 3% (2015 est.) 3% (2014 est.)
country comparison to the world: 103
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$37,100 (2016 est.) $36,600 (2015 est.) $36,300 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 50
[see also: GDP - per capita country ranks ]

Gross national saving:
20.3% of GDP (2016 est.) 19.8% of GDP (2015 est.) 19.4% of GDP (2014 est.)
country comparison to the world: 82
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 57.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23.5%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 26.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -26.4% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 69.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
dairy products, sheep, beef, poultry, fruit, vegetables, wine, seafood, wheat and barley

Industries:
agriculture, forestry, fishing, logs and wood articles, manufacturing, mining, construction, financial services, real estate services, tourism

Industrial production growth rate:
2.6% (2016 est.)
country comparison to the world: 90
[see also: Industrial production growth rate country ranks ]

Labor force:
2.562 million (2016 est.)
country comparison to the world: 114
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19%
[see also: Labor force - by occupation - industry country ranks ]
services: 74% (2006 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.1% (2016 est.) 5.4% (2015 est.)
country comparison to the world: 55
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
36.2 (1997)
country comparison to the world: 85
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $67.61 billion
[see also: Budget revenues country ranks ]
expenditures: $67.01 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
37.7% of GDP (2016 est.)
country comparison to the world: 46
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.3% of GDP (2016 est.)
country comparison to the world: 26
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
34% of GDP (2016 est.) 35% of GDP (2015 est.)
country comparison to the world: 133
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March
note: this is the fiscal year for tax purposes

Inflation rate (consumer prices):
0.6% (2016 est.) 0.3% (2015 est.)
country comparison to the world: 53
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2.5% (31 December 2009) 5% (31 December 2008)
country comparison to the world: 107
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5% (31 December 2016 est.) 5.76% (31 December 2015 est.)
country comparison to the world: 143
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$34.99 billion (31 December 2016 est.) $31.58 billion (31 December 2015 est.)
country comparison to the world: 57
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$115 billion (31 December 2016 est.) $102.8 billion (31 December 2015 est.)
country comparison to the world: 54
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$373.8 billion (31 December 2016 est.) $342.4 billion (31 December 2015 est.)
country comparison to the world: 31
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$74.35 billion (31 December 2015 est.) $74.42 billion (31 December 2014 est.) $65.96 billion (31 December 2013 est.)
country comparison to the world: 45
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$5.385 billion (2016 est.) -$5.594 billion (2015 est.)
country comparison to the world: 171
[see also: Current account balance country ranks ]

Exports:
$31.96 billion (2016 est.) $34.41 billion (2015 est.)
country comparison to the world: 58
[see also: Exports country ranks ]

Exports - commodities:
dairy products, meat and edible offal, logs and wood articles, fruit, crude oil, wine

Exports - partners:
China 17.5%, Australia 16.9%, US 11.8%, Japan 6% (2015)

Imports:
$34.83 billion (2016 est.) $35.8 billion (2015 est.)
country comparison to the world: 59
[see also: Imports country ranks ]

Imports - commodities:
petroleum and products, mechanical machinery, vehicles and parts, electrical machinery, textiles

Imports - partners:
China 19.4%, Australia 11.8%, US 11.7%, Japan 6.6%, Germany 4.7%, Thailand 4.2% (2015)

Reserves of foreign exchange and gold:
$18.55 billion (31 December 2016 est.) $14.7 billion (31 December 2015 est.)
country comparison to the world: 61
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$81.39 billion (31 December 2016 est.) $83.4 billion (31 December 2015 est.)
country comparison to the world: 53
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$71.19 billion (31 December 2016 est.) $74.17 billion (31 December 2015 est.)
country comparison to the world: 53
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$59.08 billion (31 December 2009)
country comparison to the world: 41
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
New Zealand dollars (NZD) per US dollar - 1.441 (2016 est.) 1.4279 (2015 est.) 1.4279 (2014 est.) 1.2039 (2013 est.) 1.23 (2012 est.)


NOTE: The information regarding New Zealand on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Zealand Economy 2017 information contained here. All suggestions for corrections of any errors about New Zealand Economy 2017 should be addressed to the CIA.




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