B3.2.2 New Zealand Economy: Current Status
Description
This article is from the New Zealand FAQ, by Phil Stuart-Jones and Lin Nah with numerous contributions by others.
B3.2.2 New Zealand Economy: Current Status
Govt: going into surplus
Business confidence: on the up and up
Building: both business and residental are doing very well.
Unemployed, welfare, students, solo parents feeling hard done by.
Business (particular exporters), overseas investors very pleased.
GNP 1988 (millions) $25,856
GNP per Capita $7,734
GDP: purchasing power equivalent - $46.2 billion, per capita $14,000; real
growth rate - 0.4% (1991 est.)
Inflation rate (consumer prices): 1.1-1.4% (1993)
Unemployment rate: 11% (mid 1994)
Budget: revenues $17.6 billion; expenditures $18.3 billion, including
capital expenditures of $NA (FY91 est.)
Economic aid: donor - ODA and OOF commitments (1970-89), $526 million
Exports: $9.4 billion (f.o.b., FY91)
commodities: wool, lamb, mutton, beef, fruit, fish, cheese, manufactured
goods, chemicals, forestry products, beer, wine
Imports: $8.4 billion (f.o.b., FY91)
commodities: petroleum, consumer goods, motor vehicles, industrial
equipment
Natural resources: natural gas, oil, iron sand, coal, timber, hydropower,
gold, grass
Land use: arable land 2%; permanent crops 0%; meadows and pastures 53%;
forest and woodland 38%; other 7%; includes irrigated 1%
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For an up-to-date outline on the current state of NZ's economy, look out
for one of Brian Harmer's excellent weekly WYSIWYG news reports in s.c.n-z.
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