New Zealand GDP (Gross Domestic Product)

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New Zealand GDP (Gross Domestic Product)

New Zealand country overview

New Zealand is located in the Southwestern Pacific Ocean. It consists of two islands which are called North Island and South Island. New Zealand is Consist of more than 700 small Islands. New Zealand neighbour country is Australia.

New Zealand GDP
New Zealand GDP

Its Capital city name is Wellington and its largest city name is Auckland. Its official languages are English, Maori and NZ Sign language. When we talk about its Ethnic groups, so European 72%, Maori 17%, Asians 15% and others live in New Zealand.

By religions, 49% are No religion, 37% are Christianity, 2.5% are Hindusim, 1.2% are Islam and others live in New Zealand. When we talk about its government system, so New Zealand has a Unitary parliamentary constitutional monarchy system.

Its Monarch name is Elizabeth II. Its prime minister name is Jacinda Ardern. Its legislature is called the House of representatives. New Zealand’s total area is 268,100 km2. Its land area rank is 75th in the world.

Its total population is 5,131,800 in the year 2021. Its population rank is 121st in the world. New Zealand’s population density is 20 / km2. Its population density rank is 167th in the world.

New Zealand Economy overview

New Zealand’s currency name is the New Zealand dollar. Its fiscal year is between 1 July to 30 June. New Zealand is generally called a Developed or Advanced country and a High-income economy country.

The inflation rate in New Zealand is 1.2% in the year 2020 which is considered very low in the world. When we talk about its poverty, in New Zealand 10% of its population live below the poverty line.

In Human Development, New Zealand’s Human Development Index is 0.931 in the year 2019. This HDI is considered very high in the world. New Zealand’s HDI rank is 14th in the world. Its total labour force is 2.6 million in the year 2020.

When we talk about its labour force by occupation, so agriculture is 7%, industry 21% and services are 73% in the year 2017. The unemployment rate in New Zealand is 9.3% in the year 2020. New Zealand’s Gross external debt is $156 billion in the year 2018. New Zealand has $20 billion Foreign reserves in the year 2017.

New Zealand GDP

New Zealand’s total GDP is $194 billion (nominal) and $205 billion (PPP) in the year 2020. Its GDP rank is 52nd (nominal) and 63rd (PPP) in the year 2020. Its GDP growth rate is 6% in the year 2021.

New Zealand’s GDP per capita is $38,000 (nominal) and $40,000 (PPP) in the year 2020. New Zealand’s GDP per capita rank is 23rd (nominal) and 29th (PPP) in the year 2020. When we talk about its GDP by sector, so industry 8%, manufacturing 12% and services are 72% in the year 2011.

Exports

New Zealand’s total exports are $63 billion in the year 2020. Its main exports are machinery, wood products, fruits, fish and sea products etc. its main export partners are China, Australia, United States, Japan and more. 

Imports 

Its total imports are $60 billion in the year 2020. Its main import goods are aircraft, machinery, petroleum, textiles etc. New Zealand’s main import partners are the European Union, Australia, China, Japan etc.

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