New Zealand: Economic Overview.

With its teeny-tiny population, New Zealand’s economy is also relatively small.

Its GDP, which is valued at 203 billion USD in 2018, ranks 51st among the world economies.

But don’t underestimate New Zealand…

This country makes up for its size by being a strong player in trade!

Their economic activity is largely dependent on trade, mostly with the Land Down Under (Australia), the Land of the Rising Sun (Japan), and Uncle Sam (U.S.).

It is an export-driven economy, with its main exports such as ores, metals, and wool comprising a third of its GDP.

It also exports much of its cattle and dairy products.

Its primary industries are agriculture and tourism, and they only have small manufacturing and technology sectors.

Because of that, its imports from other countries comprise mostly of heavy machinery, equipment, vehicles, and electronic products.

Since the country has removed many barriers to foreign investment, the World Bank has praised New Zealand for being one of the most business-friendly countries in the world, second to Singapore.

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