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New Zealand Economy 2009
https://geographic.org/wfb2009/new_zealand/new_zealand_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK

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New Zealand Economy 2009
SOURCE: 2009 CIA WORLD FACTBOOK


Economy - overview:
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 some at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income has risen for nine consecutive years and reached $28,500 in 2008 in purchasing power parity terms. Debt-driven consumer spending drove robust growth in the first half of the decade, helping fuel a large balance of payments deficit that posed a challenge for economic managers. 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 2007-2008; international capital inflows attracted to the high rates further strengthened the currency and housing market, however, aggravating the current account deficit. The economy fell into recession in 2008, and in line with global peers, the central bank has cut interest rates aggressively; the new government is responding with plans to raise productivity growth and develop infrastructure.

GDP (purchasing power parity):
$116.6 billion (2008 est.)
$116.3 billion (2007)
$112.8 billion (2006)
note: data are in 2008 US dollars

GDP (official exchange rate):
$135.7 billion (2008 est.)

GDP - real growth rate:
0.2% (2008 est.)
3.1% (2007 est.)
2% (2006 est.)

GDP - per capita (PPP):
$27,900 (2008 est.)
$28,200 (2007 est.)
$27,600 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector:
agriculture: 4.4%
industry: 26%
services: 69.6% (2008 est.)

Labor force:
2.26 million (2008 est.)

Labor force - by occupation:
agriculture: 7%
industry: 19%
services: 74% (2006 est.)

Unemployment rate:
4% (2008 est.)

Household income or consumption by percentage share:
lowest 10%: %NA
highest 10%: %NA

Distribution of family income - Gini index:
36.2 (1997)

Investment (gross fixed):
23.6% of GDP (2008 est.)

Budget:
revenues: $55.1 billion
expenditures: $54.66 billion (2008 est.)

Public debt:
22.9% of GDP (2008 est.)

Inflation rate (consumer prices):
4.3% (2008 est.)

Central bank discount rate:
8.25% (31 December 2007)

Commercial bank prime lending rate:
12.83% (31 December 2007)

Stock of money:
$24.2 billion (31 December 2007)

Stock of quasi money:
$117.8 billion (31 December 2007)

Stock of domestic credit:
$200.1 billion (31 December 2007)

Market value of publicly traded shares:
$47.45 billion (31 December 2007)

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

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

Industrial production growth rate:
-1.2% (2008 est.)

Electricity - production:
42.41 billion kWh (2007 est.)

Electricity - consumption:
38.93 billion kWh (2006 est.)

Electricity - exports:
0 kWh (2007 est.)

Electricity - imports:
0 kWh (2007 est.)

Oil - production:
47,850 bbl/day (2007 est.)

Oil - consumption:
158,400 bbl/day (2007 est.)

Oil - exports:
14,570 bbl/day (2005)

Oil - imports:
137,300 bbl/day (2005)

Oil - proved reserves:
55 million bbl (1 January 2008 est.)

Natural gas - production:
4.573 billion cu m (2007 est.)

Natural gas - consumption:
4.572 billion cu m (2007 est.)

Natural gas - exports:
0 cu m (2007 est.)

Natural gas - imports:
0 cu m (2007 est.)

Natural gas - proved reserves:
29.67 billion cu m (1 January 2008 est.)

Current account balance:
-$9.047 billion (2008 est.)

Exports:
$29.53 billion (2008 est.)

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

Exports - partners:
Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6% (2007)

Imports:
$31.11 billion f.o.b. (2008 est.)

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

Imports - partners:
Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%, Germany 4.7% (2007)

Reserves of foreign exchange and gold:
$15.25 billion (31 December 2008 est.)

Debt - external:
$59.08 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$72.41 billion (2008 est.)

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
New Zealand dollars (NZD) per US dollar - 1.4151 (2008 est.), 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004)


NOTE: The information regarding New Zealand on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Zealand Economy 2009 information contained here. All suggestions for corrections of any errors about New Zealand Economy 2009 should be addressed to the CIA.






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