Economy of New Zealand
Auckland's Central Business District at night, a major hub of economic activity.
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| Currency | 1 New Zealand dollar (NZD$) = 100 cents |
|---|---|
| 1 July – 30 June | |
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Trade organisations
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APEC, WTO and OECD |
| Statistics | |
| GDP | US$173.2 billion (2016, PPP) |
| GDP rank | 53rd (nominal) / 69th (PPP) |
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GDP growth
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 3.5% (2014 FY) |
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1% (YTD September 2014) |
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Population below poverty line
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No official statistics |
| 0.32 (2010) | |
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Labour force
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2.399 million (2016 est.) |
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Labour force by occupation
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Agriculture (7%), industry (19%), services (74%) (2006 est.) |
| Unemployment | 5.7% (March 2016 Qtr) |
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Main industries
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Food processing, textiles, machinery and transportation equipment, finance, tourism, mining |
| 1st (2017) | |
| External | |
| Exports | NZ$61.722 billion (FY 2013) |
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Export goods
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Dairy products, meat, wool and wood products, fish, machinery |
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Main export partners
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 Australia 21.0% China 15.0% United States 9.2% Japan 7.0% (2012 est.) |
| Imports | NZ$59.076 billion (FY 2013) |
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Import goods
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Machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles, plastics |
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Main import partners
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China 17.0% Australia 12.3% United States 11.7% Japan 6.7% Germany 4.8% South Korea 4.5% Malaysia 4.3% (2016 est.) |
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Gross external debt
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NZ$232.8 billion (100.7% of GDP) (FY 2014) |
| Public finances | |
| 38.4% of GDP (2013 est.) | |
| Revenues | NZ$74.9 billion(Budget 2015 forecast) |
| Expenses | NZ$74.9 billion (Budget 2015 forecast) |
| Economic aid | donor: $99.7 million (FY99/00) |
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Foreign reserves
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US$20.626 billion (March 2011) |
The economy of New Zealand is the 53rd-largest national economy in the world measured by nominal gross domestic product (GDP) and 69th-largest in the world measured by purchasing power parity (PPP). It is one of the most globalised economies and depends greatly on international trade, mainly with Australia, the European Union, the United States, China, South Korea and Japan. The Closer Economic Relations agreement with Australia means that New Zealand's economy is closely aligned with the Australian economy.
New Zealand's diverse market economy has a sizable service sector, accounting for 63% of all GDP activity in 2013. Large scale manufacturing industries include aluminum production, food processing, metal fabrication, wood and paper products. Mining, manufacturing, electricity, gas, water, and waste services accounted for 16.5% of GDP in 2013. The primary sector continues to dominate New Zealand's exports, despite accounting for 6.5% of GDP in 2013.
The major capital market is the New Zealand Exchange, known as the NZX. As of November 2014, NZX had a total of 258 listed securities with a combined market capitalisation of $94.1 billion. The currency is the New Zealand dollar, informally known as the "Kiwi dollar"; it also circulates in five Pacific island territories. The New Zealand dollar is the 10th most traded currency in the world.
The New Zealand economy is usually seen to be successful: It has been ranked first in the world for Social Progression, which covers such areas as Basic Human Needs, Foundations of Wellbeing, and the level of Opportunity available to its citizens. However, the generally positive outlook includes some challenges. New Zealand income levels, which used to be above those of many other countries in Western Europe prior to the crisis of the 1970s, have dropped in relative terms and never recovered. As a result, the number of New Zealanders living in poverty has grown and income inequality has increased dramatically.
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Wikipedia