nted stars edged in white
centered in the outer half of the flag; the stars represent the
Southern Cross constellation

New Zealand Economy

Economy - overview: Since 1984 the government has accomplished major
economic restructuring, moving an agrarian economy dependent on
concessionary British market access toward a more industrialized,
free market economy that can compete globally. This dynamic growth
has boosted real incomes, broadened and deepened the technological
capabilities of the industrial sector, and contained inflationary
pressures. Inflation remains among the lowest in the industrial
world. Per capita GDP has been moving up toward the levels of the
big West European economies. New Zealand's heavy dependence on trade
leaves its growth prospects vulnerable to economic performance in
Asia, Europe, and the US. With the FY00/01 budget pushing up pension
and other public outlays, the government's ability to meet fiscal
targets will depend on sustained economic growth.

GDP: purchasing power parity - $67.6 billion (2000 est.)

GDP - real growth rate: 3.6% (2000 est.)

GDP - per capita: purchasing power parity - $17,700 (2000 est.)

GDP - composition by sector: agriculture: 8%

industry: 23%

services: 69% (1999)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%:
0.3%

highest 10%: 29.8% (1991 est.)

Inflation rate (consumer prices): 2.4% (2000 est.)

Labor force: 1.88 million (2000)

Labor force - by occupation: services 65%, industry 25%, agriculture
10% (1995)

Unemployment rate: 6.3% (2000 est.)

Budget: revenues: $19.2 billion

expenditures: $19.2 billion, including capital expenditures of $NA
(1999 est.)

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

Industrial production growth rate: 6.2% (2000)

Electricity - production: 37.952 billion kWh (1999)

Electricity - production by source: fossil fuel: 30.49%

hydro: 61.42%

nuclear: 0%

other: 8.09% (1999)

Electricity - consumption: 35.295 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

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

Exports: $14.6 billion (f.o.b., 2000 est.)

Exports - commodities: dairy products, meat, fish, wool, forestry
products,