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CompareEconomy.com Comparison of world economies

New Zealand

World Rank 39 3.89 New Zealand flag svg
Capital
Area
Currency
Wellington
268,021 km 2
New Zealand dollar (NZD)

Table of Contents

Introduction

New Zealand is an island nation located in the southwestern Pacific Ocean. There are two large landmasses that constitute the entire main region of the country, namely the North Island and the South Island. Besides that, there are also 700 smaller islands.

All these lands provide New Zealand with the total area of 268,000 square kilometers. It means that in terms of size, they are only 75th worldwide. However, because of rather large GDP, they are considered to be a highly developed nation. Unitary parliamentary constitutional monarchy means that their monarch is Elisabeth II. However, they are governed by Patsy Reddy who works as Governor-General. Their Prime Minister is Jacinda Ardern.

Economy

Gross Domestic Product in New Zealand is not as high as one could think. It is around $216 billion, or $0.2 trillion. It is worth noting that there aren’t many people that live there. As a result, their GDP per capita is quite large, which is an indication of quite nice living conditions. It is around $39,000. As a result, it gives New Zealand 23rd position in GDP per capita in the world’s comparison.

In terms of GDP growth, which is also an indication of the entire country’s development progress, it is 2.3% in 2019. However, the last several years were pretty successful for the country with peaking 3.6% of annual GDP growth in 2015 and 2016. In terms of GDP per capita growth, it is also quite attractive because it is estimated to be 1.2% in 2019.

Exports and imports - two key elements of each country’s economy. New Zealand’s transport to foreign countries was a little over $58 billion, which was 30% of their general GDP. As far as the import of goods and services is concerned, they also received $58 billion worth of their GDP, which is also approximately 30%.

Population

Interestingly, there are plenty of native citizens in New Zealand, which is surprising if we compare it to other colonial regions such as the Americas or Australia. More than 16 % of the entire population consider themselves as Maori, the group of indigenous Polynesian people. However, the total number of people in this country was around 5 million in 2019, It gives them 167th position in terms of density, namely 19 New Zealanders per square kilometer

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
#48 (2021)
249,885,687,029 US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

  • Last
  • Historical chart
#136 (2021)
-10,068,609,421 US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

  • Last
  • Historical chart
#137 (2021)
3.78 %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)