The New Zealand 's Economy

1577 Words7 Pages
Tawney Elayda
Professor Jason Gurtovoy
Economics 335
6 August 2015
New Zealand’s Economy The country of New Zealand is an island located off the coast of Australia. It is under the British Commonwealth, however, the monarchy does not play a role in its government (Whitmore). New Zealand’s mixed economy operations are based on free market principles (The Treasury). Over a span of twenty-five years, the country has become one of the least regulated members of the Organization of Economic Cooperation and Development after starting as one of the most regulated. The “fertile soil and excellent growing conditions coupled with sophisticated farming methods and advanced agricultural technology…” have allowed New Zealand to rise as a force in the agricultural industry (Ministry of Business, Innovation & Employment). Though New Zealand is small in size compared to many of its trading partners, the country has established itself as an advanced economy nonetheless. The World Bank reports New Zealand as a high-income OECD country with its total value of goods and services that were produced by the country within a certain period of time, or gross domestic product, at 188.4 billion current US dollars in 2013. Their population count for 2014 is 4.51 million, but using their total for 2013 gives the country a GDP per capita of 41,555.83 US dollars. As for foreign direct investments, net inflow measures the direct investment being made by foreign investors, whereas net outflows are
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