Welcome to New Zealand

 

 

 

 

 

New Zealand Exports

 

New Zealand Exports

New Zealand exports

The economy of New Zealand is prosperous, modern, and developed with an estimated Gross Domestic Product of NZ$115.624 billion in 2008.

The standard of living in the country is relatively high with an approximated GDP per capita of NZ$27,017 in 2008, similar to that of Southern Europe.

New Zealand has made considerable gains in middle class household incomes since 2000.

Along with Australia, New Zealand mostly escaped the recession of the beginning of the 21st century which affected a large number of other countries in the West. Nevertheless, the GDP of 2008 dropped in all 4 quarters.

 

The people of New Zealander have a life satisfaction level which is high as tallied by international surveys. This is in spite of lower GDP per-capita levels in New Zealand as compared to several other OECD countries. New Zealand ranked 20th on the Human Development Index of 2008 and 15th in the 2005 The Economist's worldwide quality-of-life index.
 

New Zealand ranked 1st in the Legatum Institute prosperity index of 2007 in the category of life satisfaction and 5th in overall prosperity.

 

Additionally, the Mercer Quality of Living Survey of 2009 ranked as Auckland City 4th place and Wellington City 12th place in the world on its survey.


New Zealand depends heavily on free trade, specifically in products from agriculture. Its exports account for approximately a quarter of its total output, which is actually a high figure since the export output for smaller countries in Europe is approximately fifty percent.

 

This fact makes the country especially vulnerable to global prices of commodity and internal economic slowdowns.

 

New Zealand’s principal industries of export are agriculture, fishing, horticulture, and forestry. These industries make up approximately half of the export of the country. New Zealand’s major partners for export are Australia (20.5%), the U.S. (13.1%), Japan (10.3%), China (5.4%), and the U.K. (4.9%).
 

Tourism plays a major part in the economy of New Zealand. Tourism in New Zealand adds over 12 billion New Zealand dollars or about 8.9 percent to the country’s total GDP and subsidizes about 200,000 full-time industry related jobs which makes up about 9.9% of New Zealand’s total workforce. Visits of tourists to New Zealand are projected to increase at an amount of 4% yearly up to the year 2013.

An international magazine, “The Economist” in 2009 foresees the New Zealand government’s fiscal situation to remain weak because of its tenuous growth in revenue and the country’s increasing expenditure.

NZ Exports
 

The debt of the Government is expected to swell from 25% in 2008 to 40% in 2013. Gross Domestic Product growth in 2009 will shrink by 2.6%, then in 2010-2013 average 2.2%, even though there may be consequential risks which may deter this growth.

 

Foreign trade will be continued to be pursued by the Government. In 2009, the country’s inflation will be 1.4 percent, in 2010 1.3 percent, and from 2011-2013 will average 2.3 percent. The NZ dollar is projected to weaken against the U.S. dollar through 2010, but in 2011 will commence strengthening again (but this report observes that exchange rates are unstable and difficult to predict).
 

 

  

Copyrights for all pictures on this site, it is and remains the property of www.new-zealand-nz.net

   2006 - 2012 www.new-zealand-nz.net