New Zealand:
Economy

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Economy - overview	Definition 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 many at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income has risen for eight consecutive years and reached $27,300 in 2007 in purchasing power parity terms. Consumer and government spending have driven growth in recent years, and exports picked up in 2006 after struggling for several years. Exports were equal to about 22% of GDP in 2007, down from 33% of GDP in 2001. Thus far the economy has been resilient, and the Labor Government promises that expenditures on health, education, and pensions will increase proportionately to output. Inflationary pressures have built in recent years and the central bank raised its key rate 13 times since January 2004 to finish 2007 at 8.25%. A large balance of payments deficit poses another challenge in managing the economy.
GDP (purchasing power parity)	Definition - World rank and map $111.7 billion (2007 est.)
GDP (official exchange rate)	Definition $128.1 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 3% (2007 est.)
GDP - per capita	Definition - World rank and map $26,400 (2007 est.)
GDP - composition by sector	Definition agriculture: 4.8% industry: 26% services: 69.3% (2007 est.)
Labor force	Definition 2.233 million (2007 est.)
Labor force - by occupation	Definition agriculture: 7% industry: 19% services: 74% (2006 est.)
Unemployment rate	Definition - World rank and map 3.6% (2007 est.)
Population below poverty line	Definition NA%
Household income or consumption by percentage share	Definition lowest 10%: %NA highest 10%: %NA
Distribution of family income - Gini index	Definition - World rank and map 36.2 (1997)
Inflation rate (consumer prices)	Definition - World rank and map 2.4% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 23.1% of GDP (2007 est.)
Budget	Definition revenues: $57.84 billion expenditures: $53.7 billion (2007 est.)
Public debt	Definition - World rank and map 20.7% of GDP (2007 est.)
Agriculture - products	Definition dairy products, lamb and mutton; wheat, barley, potatoes, pulses, fruits, vegetables; wool, beef; fish
Industries	Definition food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism, mining
Industrial production growth rate	Definition - World rank and map 0.3% (2007 est.)
Electricity - production	Definition - World rank and map 42.06 billion kWh (2006 est.)
Electricity - consumption	Definition - World rank and map 37.39 billion kWh (2006 est.)
Electricity - consumption per capita	Definition - World rank and map 8,959 kWh (2006 est.)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 25,880 bbl/day (2006 est.)
Oil - consumption	Definition - World rank and map 156,000 bbl/day (2006 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 37.4 bbl/day (2006 est.)
Oil - exports	Definition - World rank and map 15,720 bbl/day (2004)
Oil - imports	Definition - World rank and map 140,900 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 55.5 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 3.9 billion cu m (2006 est.)
Natural gas - consumption	Definition - World rank and map 3.7 billion cu m (2006 est.)
Natural gas - consumption per capita	Definition - World rank and map 887 cu m (2006 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 29.67 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$10.38 billion (2007 est.)
Exports	Definition - World rank and map $27.26 billion (2007 est.)
Exports - commodities	Definition dairy products, meat, wood and wood products, fish, machinery
Exports - partners	Definition Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6% (2006)
Imports	Definition - World rank and map $28.97 billion (2007 est.)
Imports - commodities	Definition machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics
Imports - partners	Definition Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%, Germany 4.7% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $17.25 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $50.07 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $66.92 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $NA
Market value of publicly traded shares	Definition $40.62 billion (2005)
Economic aid - donor	Definition ODA, $259 million (2006)
Currency (code)	Definition New Zealand dollar (NZD)
Exchange rates	Definition New Zealand dollars per US dollar - 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004), 1.7221 (2003)
Fiscal year	Definition 1 April - 31 March note: this is the fiscal year for tax purposes

New Zealand: Economy

New Zealand:
Economy