W, Washington, DC 20008
telephone:
(202) 328-4800
consulates general:
Los Angeles and New York
US diplomatic representation:
chief of mission:
(vacant)
embassy:
29 Fitzherbert Terrace, Thorndon, Wellington
mailing address:
P. O. Box 1190, Wellington; PSC 467, Box 1, FPO AP 96531-1001
telephone:
[64] (4) 722-068
FAX:
[64] (4) 723-537
consulate general:
Auckland
Flag:
blue with the flag of the UK in the upper hoist-side quadrant with four red
five-pointed stars edged in white centered in the outer half of the flag;
the stars represent the Southern Cross constellation

*New Zealand, Economy

Overview:
Since 1984 the government has been reorienting an agrarian economy dependent
on a guaranteed British market to an open free market economy that can
compete on the global scene. The government has hoped that dynamic growth
would boost real incomes, broaden and deepen the technological capabilities
of the industrial sector, reduce inflationary pressures, and permit the
expansion of welfare benefits. The results have been mixed: inflation is
down from double-digit levels, but growth was sluggish in 1988-91, and
unemployment, always a highly sensitive issue, has exceeded 10% since May
1991. In 1992, growth picked up to 3%, a sign that the new economic approach
is beginning to pay off.
National product:
GDP - purchasing power equivalent - $49.8 billion (1992)
National product real growth rate:
3% (1992)
National product per capita:
$14,900 (1992)
Inflation rate (consumer prices):
2.2% (1991)
Unemployment rate:
10.1% (September 1992)
Budget:
revenues $14.0 billion; expenditures $15.2 billion, including capital
expenditures of $NA (1992)
Exports:
$3.65 billion (f.o.b., FY92)
commodities:
wool, lamb, mutton, beef, fruit, fish, cheese, manufactures, chemicals,
forestry products
partners:
EC 18.3%, Japan 17.9%, Australia 17.5%, US 13.5%, China 3.6%, South Korea
3.1%
Imports:
$3.99 billion (f.o.b., FY92)
commodities:
petroleum, consumer goods, motor vehicles, industrial equipment
partners:
Australia 19.7%, Japan 16.9%, EC 16.9%, US 15.3%, Taiwan 3.0%
External debt:
$38.5 billion (September 1992)
Industrial production:
growth rate 1.9% (1990); accounts for about 20% of GDP
Electricity:
8,000,000 kW capacity; 31,000 million kWh produced, 9,250 kWh per capita
(1992)
Industries:
food processing, wood and paper prod