KNZBC

Economy

Currency 1 New Zealand dollar (NZD) = 100 cents
Fiscal year 1 July – 30 June
Trade organisations APEC, WTO, OECD and CPTPP
Free Trade Agreements (as of 2017) South Korea, China, Australia, ASEAN, Hong Kong, Malaysia, Singapore, Thailand, P4 (Brunei, Darussalam, Chile, Singapore)
Statistcs
GDP USD 186.4 billion (2017, PPP)
GDP rank 53rd (nominal) / 68th (PPP)
GDP growth 3.9% (2015)
GDP by sector Primary industries: 7.6%, manufacturing: 12.2%, services: 71% (2011)
Inflation (CPI) 1% (September 2014)
Labour force 2.399 million (2016 est.)
Labour force by occupation Agriculture (7%), industry (19%), services (74%) (2006 est.)
Unemployment 5.7% (March 2016 Qtr)
Main industries Food processing, textiles, machinery and transportation equipment, finance, tourism, mining
Ease-of-doing-business rank 1st (2018)

 

New Zealand has a stable and globally competitive economy. We have experienced positive economic growth for the overwhelming majority of the last 35 years. Trade is an essential element of our ongoing economic prosperity, andxports of goods and services make up around 30 percent of gross domestic product (GDP). A wide range of free trade agreements, pro-competitive regulation, an efficient tax regime, an open political system and investment in innovation have all given rise to an efficient and competitive economy.

It’s easy to do business here. We have a straightforward, business-friendly taxation system that supports capital development, research and development and international investment. We also have flexible immigration policies that encourage investors, entrepreneurs and business managers, and there is active Government support for investment. Over the past three decades, the New Zealand economy has changed from being one of the most regulated in the OECD to one of the least regulated.

We have a reputation for our honesty. The Transparency International’s 2016 Corruption Perception Index ranks our public sector as the least corrupt on the planet. We take a tough stance on money laundering, with legislation that puts obligations on our financial institutions and casinos to detect and deter money laundering and terrorism financing.

 

Stable and secure

New Zealand boasts sound macroeconomic foundations. We are among the top 20 rated sovereigns in the world. Standard & Poors gives New Zealand an AA+ local currency rating, an AA foreign currency rating and an AAA T&C assessment. We have maintained a low-inflation environment for more than two decades, with an independent monetary policy and a focus on price stability, a long-standing floating exchange rate and no exchange controls or restrictions on repatriation of funds.

 

Centrally positioned, globally connected

Our South Pacific home is a great base from which to export globally. Our location gives us a highly advantageous time zone for doing business globally. We are connected to the Europe, North America and Asian markets. New Zealand has Free Trade Agreements – in place or proposed – with all major economies promoting easier trade and investment flows. We have some of the fastest Internet speeds in the world with our Ultra-Fast Broadband fibre connections extending throughout the country and internationally. We have excellent transport and distribution links to all international markets. Our close geographic proximity to Asia means we can ship goods quickly to this region.

Our air connectivity for freight and passenger services continues to improve. Recently we welcomed Qatar Airways which has joined other world leading airlines such as Emirates, Qantas, Singapore and Cathay Pacific connecting New Zealand to the world.

 

High quality, low cost

Looking to establish a base in the Asia-Pacific area? New Zealand offers significantly lower costs to doing business in areas such as export compliance costs, the average wage and lower facility costs compared to neighbouring Australia.

Food powerhouse

New Zealand is an ideal setting for producing quality foods and beverages because of its temperate climate, high rainfall, clean waters, fertile land, and low-density population. We are the largest exporter in the world of dairy products and lamb and our dairy products account for one third of the global dairy trade. Investing in New Zealand’s food and beverage industry gives overseas investors access to the largest manufacturing sub-sector in New Zealand. Export revenues total some $36 billion a year and are growing fast.

 

Sustainable

We are a country charged with the guardianship of our environment, for the future, on behalf of those who came before us. We are a clean and pure country with a progressive approach to business and a strong environmental track record.

We are wealthy in natural resources. The World Bank estimates that New Zealand ranks eighth out of 120 countries in natural capital per capita, outranked only by petroleum-exporting countries.

Clever country

We like to think we are a country built on ingenuity, poised to disrupt big paradigms from the edge of the world. We generate new ideas that challenge the expected. We’re known for our ‘can-do’ attitude and an ability to make more from less. All of this is underpinned by a government that actively invests in science and innovation.

 

A great place to live and prosper

We that know life in New Zealand is great, but don’t just take our word for it. London-based think-tank the Legatum Institute had this to say about us: “Free markets, free people, and the world’s strongest society ensure that New Zealand was second place in the Prosperity Index. New Zealand has ranked first in the Prosperity Index for six of the last 10 years. It also ranks New Zealand’s business environment performance 2nd. Underlying strengths include our economic quality, particularly free and open markets (New Zealand ranks 3rd), governance (3rd), personal freedom (1st), and social capital (2nd).”

Investors welcome

New Zealand has many talented companies with high growth aspirations who need capital to achieve their commercial potential on the world stage. We work with a range of investors, both offshore and in New Zealand, from high net-worth individuals, through to private equity and venture capital firms, right up to sovereign wealth funds and multinational corporations. Whatever your size or investment criteria we in the KNZBC have in-depth knowledge and connections to businesses seeking capital for growth today. We will also connect you to any appropriate agencies and advisors to help make it easy for you to invest and do business in New Zealand.