OECD - OECD Economic Surveys: New Zealand 2019
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OECD (2019), OECD Economic Surveys: New Zealand 2019 , OECD Publishing, Paris, https://doi.org/10.1787/b0b94dbd-en .
This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.
The economic situation and policies of New Zealand were reviewed by the Committee on 13 May 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 13 June 2019.
The Secretariats draft report was prepared for the Committee by David Carey, Andrew Barker and Carrie Exton under the supervision of Vincent Koen. Statistical research assistance was provided by Isabelle Luong, editorial assistance by Sisse Nielsen and the Survey was prepared for production by Carolina Gonzalez. The Survey also benefitted from contributions by Andrs Fuentes-Hutfilter, Valry Dugain, Lara Fleischer and Margreet Frieling.
The previous Survey of New Zealand was issued in June 2017.
Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys.
Basic Statistics of New Zealand, 2018 | |||||
|---|---|---|---|---|---|
(Numbers in parentheses refer to the OECD average) | |||||
LAND, PEOPLE AND ELECTORAL CYCLE | |||||
Population (million, 2017) | 4.8 | Population density per km (2017) | 18.2 | (37.7) | |
Under 15 (%, 2017) | 19.8 | (17.9) | Life expectancy (years, 2017) | 81.7 | (80.3) |
Over 65 (%, 2017) | 15.3 | (16.8) | Men (2017) | 80.0 | (77.7) |
Foreign born (%, 2014) | 22.2 | Women (2017) | 83.4 | (83.0) | |
Latest 5-year average growth (%) | 1.7 | (0.6) | Latest general election | September 2017 | |
ECONOMY | |||||
Gross domestic product (GDP) | Value added shares (%, OECD: 2017) | ||||
In current prices (billion USD) | 203.1 | Primary sector | 6.2 | (2.4) | |
In current prices (billion NZD) | 293.2 | Industry including construction | 22.0 | (27.3) | |
Latest 5-year average real growth (%) | 3.3 | (2.3) | Services | 71.8 | (70.3) |
Per capita (000 USD PPP, 2017) | 40.0 | (44.7) | |||
GENERAL GOVERNMENT Per cent of GDP | |||||
Expenditure (2017) | 37.0 | (40.3) | Gross financial debt (OECD: 2017) | 35.5 | (112.4) |
Revenue (2017) | 38.2 | (38.1) | Net financial debt (OECD: 2017) | 0.0 | (69.4) |
EXTERNAL ACCOUNTS | |||||
Exchange rate (NZD per USD) | 1.44 | Main exports (% of total merchandise exports) | |||
PPP exchange rate (USA = 1) | 1.45 | Food and live animals | 55.9 | ||
In per cent of GDP | Crude materials, inedible, except fuels | 13.3 | |||
Exports of goods and services | 28.1 | (56.2) | Manufactured goods | 6.5 | |
Imports of goods and services | 28.2 | (52.0) | Main imports (% of total merchandise imports) | ||
Current account balance | -3.7 | (0.3) | Machinery and transport equipment | 39.0 | |
Net international investment position (2017) | -55.3 | Miscellaneous manufactured articles | 13.2 | ||
Mineral fuels, lubricants and related materials | 11.9 | ||||
LABOUR MARKET, SKILLS AND INNOVATION | |||||
Employment rate (aged 15 and over, %) | 77.5 | (68.4) | Unemployment rate, Labour Force Survey (aged 15 and over, %) | 4.3 | (5.3) |
Men | 82.1 | (76.0) | Youth (aged 15-24, %) | 11.5 | (11.1) |
Women | 73.0 | (60.9) | Long-term unemployed (1 year and over, %, 2017) | 0.7 | (1.7) |
Participation rate for 15-64 year-olds (%, 2017) | 80.9 | (72.1) | Tertiary educational attainment (aged 25-64, %, 2017) | 37.7 | (36.9) |
Average hours worked per year (OECD: 2017) | 1 756 | (1 746) | Gross domestic expenditure on R&D (% of GDP, 2015, OECD: 2016) | 1.3 | (2.5) |
ENVIRONMENT | |||||
Total primary energy supply per capita (toe, 2017) |
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