New Zealand
Economic and trade overview
Key figures
Economy 2011 Trade 2011 (USD billion)
GDP (USD) 160 bn Goods Exports 38
GDP per capita (USD) 36,114 Imports 36
GDP volume growth (year-on-year) + 1.0% Net + 3
Population 4.42m Services Exports 10
MMR (year average) 2.50% Imports 11
Exchange rate NZD / USD (year average) 1.2658 Net – 1
BoP (goods, services & income) as % of GDP – 4.1% Source: IFS, IMF, January 2013International/Regional memberships
Pacific Islands Forum: founding member
since 1971. All Pacific Islands Forum
member states, i.e. Australia, New Zealand
and 13 Pacific Island nations, are currently
signatories of the Pacific Agreement on
Closer Economic Relations (PACER).
Asia-Pacific Economic Cooperation
(APEC): since 6–7 November 1989.
International Monetary Fund (IMF):
since 31 August 1961.
World Trade Organization (WTO):
since 1 January 1995.
Government trade policy
New Zealand has signed bilateral free trade
agreements with Australia (ANZCERTA –
Australia New Zealand Closer Economic
Relations Trade Agreement), China, Hong
Kong, Malaysia, Singapore and Thailand.
A concluded free trade agreement with the
Gulf Co-operation Council has yet to be
signed. The bilateral free trade agreement
between Australia and New Zealand is one
of the most extensive in global trade and
encompasses free trade in services.
Australia and New Zealand established
a free trade agreement with ASEAN in
February 2009.
New Zealand, Brunei Darussalam, Chile
and Singapore are signatories of the
2005 Trans-Pacific Strategic Economic
Partnership Agreement (TPSEP).
Negotiations are ongoing to expand the
TPSEP to include Australia, Canada,
Malaysia, Mexico, New Zealand, Peru, the
United States, and Vietnam; thus creating
the Trans-Pacific Partnership (TPP).
Free trade negotiations are ongoing with
India, South Korea, and the Customs Union
of Belarus, Kazakhstan and Russia.
National export credit insurance provider:
New Zealand Export Credit Office (NZECO
— http://www.nzeco.govt.nz).
New Zealand Trade and Enterprise
(www.nzte.govt.nz) provides state-supported
export finance in specific cases.
Exports to certain project markets within the
Asia-Pacific region are eligible for export
financing under the Ministry of Foreign
Affairs and Trade’s aid and development
programmes.
New Zealand is not currently home to any
free trade ports or special economic zones.Currency and exchange controls
Official currency: New Zealand dollar (NZD).
Exchange rate arrangement: free floating.
New Zealand does not impose foreign exchange
controls.