agrarian economy dependent on a
concessionary British market access toward a more industrialized,
open, 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. Business confidence strengthened in 1994, and
export demand picked up in the Asia-Pacific region, resulting in 6.2%
growth. Growth continued strong in 1995, but tailed off in 1996.
Inflation remains among the lowest in the industrial world. Per capita
GDP now is up to the levels of the big West European economies.

GDP: purchasing power parity - $65.6 billion (1996 est.)

GDP - real growth rate: 2.8% (1996 est.)

GDP - per capita: purchasing power parity - $18,500 (1996 est.)

GDP - composition by sector:
agriculture: 7.3%
industry: 25.9%
services : 66.8% (1990)

Inflation rate - consumer price index: 2.8% (1996 est.)

Labor force:
total : 1,634,500 (September 1995)
by occupation: services 64.6%, industry 25.0%, agriculture 10.4%
(1994)

Unemployment rate: 5.9% (December 1996)

Budget:
revenues : $22.18 billion
expenditures: $20.28 billion, including capital expenditures of $NA
(FY95/96 est.)

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

Industrial production growth rate: NA%

Electricity - capacity: 7.75 million kW (1994)

Electricity - production: 34.4 billion kWh (1995)

Electricity - consumption per capita: 9,198 kWh (1995 est.)

Agriculture - products: wheat, barley, potatoes, pulses, fruits,
vegetables; wool, meat, dairy products; fish catch reached a record
503,000 metric tons in 1988

Exports:
total value: $13.7 billion (1995)
commodities: wool, lamb, mutton, beef, fish, cheese, chemicals,
forestry products, fruits and vegetables, manufactures, dairy
products, wood
partners: Australia 19%, Japan 15%, UK 15%, US 12%

Imports:
total value : $14 billion (1995)
commodities: machinery and equipment, vehicles and aircraft,
petroleum, consumer goods, plastics
partners: Australia 21%, US 18%, Japan 16%, UK 6%

Debt - external: $38.5 billion (September 1994)

Economic aid:
donor: ODA, $98 million (1993)

Currency: 1 New Zealand dollar (NZ$) = 100 cents

Exchange rates: New Zealand dollars (NZ$) per US$1 - 1.4247 (January
1997), 1.4543 (1996), 1.5235 (1995), 1.6844 (1994), 1.8495 (1