Economy of New Zealand
| Statistics | |
|---|---|
| Main industries | Food processing, textiles, machinery and transportation equipment, finance, tourism, mining |
| Ease-of-doing-business rank | 1st (very easy, 2020) |
| External | |
| Exports | $62.4 billion (FY 2020) |
Contents
What is New Zealand’s biggest industry?
Agriculture
Agriculture is New Zealand’s biggest industry. Overall, it generates 70% of NZ’s merchandise export earnings and 12% gross domestic product. New Zealand is the world’s largest exporter for dairy and sheep meat, which is evident as you drive past never-ending sheep and cow fields.
What is NZ biggest export?
Exports The top exports of New Zealand are Concentrated Milk ($5.73B), Sheep and Goat Meat ($2.62B), Rough Wood ($2.31B), Butter ($2.29B), and Frozen Bovine Meat ($2.09B), exporting mostly to China ($11.1B), Australia ($5.7B), United States ($3.78B), Japan ($2.38B), and South Korea ($1.15B).
What is New Zealand’s economy known for?
New Zealand has an open economy that works on free market principles. It has sizeable manufacturing and service sectors complementing a highly-efficient agricultural sector. Exports of goods and services account for around one third of real expenditure GDP.
What is New Zealands main income?
Trade. Agricultural products—principally meat, dairy products, and fruits and vegetables—are New Zealand’s major exports; crude oil and wood and paper products are also significant. The major imports are crude and refined oil, machinery, and vehicles.
What is the most common job in New Zealand?
police officer
The most popular career this year was police officer, according to the most searched for jobs on careers.govt.nz in 2018.
The top 10 jobs searched for on the careers.govt.nz site as at 10 December 2018:
- Police Officer.
- Registered Nurse.
- Psychologist.
- Secondary School Teacher.
- Accountant.
- Pilot.
- Primary School Teacher.
- Surgeon.
Why is New Zealand so poor?
This may sound obvious, but it is important to qualify that the main cause of poverty in New Zealand is a lack of money, not a lack of responsibility, laziness, or inability to work.New Zealand suffers from many of the same systemic problems that other first-world countries, including the U.S., deal with to this day.
How is New Zealand so rich?
Mining, manufacturing, electricity, gas, water, and waste services accounted for 16.5% of GDP as of 2013. The primary sector continues to dominate New Zealand’s exports, despite accounting for only 6.5% of GDP as of 2013.The major capital market is the New Zealand Exchange (NZX).
How is New Zealand economy?
Gross domestic product (GDP) surged 2.8% in the three months through to June, Statistics New Zealand said, well ahead of a Reuters poll forecast of a 1.3% increase in growth and the Reserve Bank of New Zealand’s (RBNZ) estimate of 0.7%. The New Zealand dollar jumped 0.3% after the data was released.
What kind of government is New Zealand?
Parliamentary systemUnitary stateConstitutional monarchy
Is NZ a wealthy country?
New Zealanders have the fourth-largest median wealth per adult in the world, a new report says. The Credit Suisse Global Wealth Report for 2021 puts Australia at the top of the global rankings of median wealth, measured in US dollars. Australians had a median wealth per adult of US$238,070 (NZ$339,760) in 2020.
Is Tourism NZ biggest industry?
Tourism was New Zealand’s biggest export industry, contributing 20.1% of total exports. Tourism generated a direct annual contribution to GDP of $16.4 billion, or 5.5%, and a further indirect contribution of $11.3 billion, another 3.8% of New Zealand’s total GDP.
Does New Zealand have free healthcare?
Government funding means that the New Zealand healthcare system, for citizens and permanent residents, is either free or low-cost. Hospital and specialist care are covered if the patient is referred by a general practitioner (GP).Many prescription medications are subsidized at an average cost of $5.
Which occupations are in demand in New Zealand?
Top 20 most-needed jobs in New Zealand
| Most-needed jobs | Current rank | Change since Feb |
|---|---|---|
| Nursing-All roles | 1 | +4 |
| Administrative Assistants | 2 | -1 |
| Warehousing, Storage & Distribution | 3 | 0 |
| Developers / Programmers | 4 | 0 |
What is the best business in New Zealand?
List of 20 Business Investment Opportunities in New Zealand
- #1. Agriculture. Actually, agriculture offers a wide range of opportunities for earning money.
- #2. Car Rental. This is an emerging sector in New Zealand.
- #3. Clothing.
- #4. Delivery.
- #5. eBay Selling.
- #7. Financial Services.
- #9. Graphics Designing.
- #10. Handyman.
What are the top 5 jobs in New Zealand?
- Information Technology Manager. First on our list of top-paying jobs in New Zealand is an IT manager.
- Building and Construction Manager. The construction industry in New Zealand is constantly in high demand.
- Information Technology Architect.
- Marketing Manager.
- Procurement Manager.
- Ship’s Master.
- Ophthalmologist.
- Mine Manager.
What is the highest paying job in NZ?
The highest-paying job in New Zealand is that of CEO or Managing Director. They earn, on the low end, around NZ$120,000 per year and, on average, around NZ$560,000 per year. On the high end, they can earn as much as NZ$4.5 million per year!
Is New Zealand a good place to live?
New Zealand is known worldwide for its quality of life and relaxed pace. New Zealanders have a strong work ethic but also believe in having a good work life balance. Even in our biggest cities, you are never too far from a beach, bike trail, or national park.
Are there slums in New Zealand?
Auckland’s central city is home to some of the region’s poorest people, living in tiny overcrowded apartments which are threatening to turn some areas into slums.
Is New Zealand economy good?
New Zealand’s economic freedom score is 83.9, making its economy the 2nd freest in the 2021 Index.New Zealand is ranked 2nd among 40 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.
How many billionaires are in New Zealand?
2021 New Zealand billionaires list
| World Rank | Name | Net worth (USD) |
|---|---|---|
| 274 | Graeme Hart | 8.7 billion |
| 1299 | Richard Chandler | 2.4 billion |
