th has boosted real incomes (but
left behind many at the bottom of the ladder), broadened and
deepened the technological capabilities of the industrial sector,
and contained inflationary pressures. Per capita income has risen
for six consecutive years and is now more than $23,000 in purchasing
power parity terms. New Zealand is heavily dependent on trade -
particularly in agricultural products - to drive growth. Exports are
equal to about 20% of GDP. Thus far the economy has been resilient,
and the Labor Government promises that expenditures on health,
education, and pensions will increase proportionately to output.

GDP (purchasing power parity):
$92.51 billion (2004 est.)

GDP - real growth rate:
4.8% (2004 est.)

GDP - per capita:
purchasing power parity - $23,200 (2004 est.)

GDP - composition by sector:
agriculture: 4.6%
industry: 27.4%
services: 68% (2004 est.)

Labor force:
2.05 million (2004 est.)

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

Unemployment rate:
4.2% (2004 est.)

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% (2004 est.)

Investment (gross fixed):
22.4% of GDP (2004 est.)

Budget:
revenues: $38.29 billion
expenditures: $36.12 billion, including capital expenditures of NA
(2004 est.)

Public debt:
22.1% of GDP (2004 est.)

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

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

Industrial production growth rate:
5.9% (2004 est.)

Electricity - production:
38.39 billion kWh (2002)

Electricity - production by source:
fossil fuel: 31.6%
hydro: 57.8%
nuclear: 0%
other: 10.7% (2001)

Electricity - consumption:
35.71 billion kWh (2002)

Electricity - exports:
0 kWh (2002)

Electricity - imports:
0 kWh (2002)

Oil - production:
42,160 bbl/day (2001 est.)

Oil - consumption:
132,700 bbl/day (2001 est.)

Oil - exports:
30,220 bbl/day (2001)

Oil - imports:
119,700 bbl/day (2001)

Oil - proved reserves:
89.62 million bbl (1 January 2002)

Natural gas - production:
6.504 billion cu m