New Zealand

==Economy==
{{Main|Economy of New Zealand}}
{{See also|List of companies of New Zealand}}
[[File:Auckland Waterfrt.jpg|thumb|[[Auckland waterfront|Waterfront]] along [[Auckland CBD]], a major hub of economic activity|alt=Boats docked in blue-green water. Plate glass skyscrapers rising up in the background.]]

New Zealand has an [[advanced economy|advanced]] [[market economy]],<ref>{{cite book |title=World Economic Outlook |url=https://www.imf.org/en/Publications/WEO/Issues/2018/03/20/~/media/Files/Publications/WEO/2018/April/text.ashx?la=en |publisher=[[International Monetary Fund]] |access-date=21 June 2018 |page=63 |date=April 2018 |isbn=978-1-48434-971-7 |archive-date=20 June 2018 |archive-url=https://web.archive.org/web/20180620232050/https://www.imf.org/en/Publications/WEO/Issues/2018/03/20/~/media/Files/Publications/WEO/2018/April/text.ashx?la=en |url-status=live }}</ref> ranked 13th in the {{As of|2021|alt=2021}} [[Human Development Index]],<ref name="HDI">{{cite book|url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2021-22pdf_1.pdf|title=Human Development Report 2021/2022|language=en|publisher=[[United Nations Development Programme]]|date=8 September 2022|isbn=978-9211264517|access-date=8 September 2022|archive-date=9 October 2022|archive-url=https://ghostarchive.org/archive/20221009/https://hdr.undp.org/system/files/documents/global-report-document/hdr2021-22pdf_1.pdf|url-status=live}}</ref> and fourth in the {{As of|2022|alt=2022}} [[Index of Economic Freedom]].<ref>{{cite web |title=Country rankings |url=https://www.heritage.org/index/ranking |date=2022 |website=Index of Economic Freedom |publisher=[[The Heritage Foundation]] |access-date=14 August 2022 |archive-date=21 May 2020 |archive-url=https://web.archive.org/web/20200521231822/https://www.heritage.org/index/ranking |url-status=live }}</ref> It is a [[high-income economy]] with a [[Nominal value|nominal]] [[gross domestic product]] (GDP) per capita of [[United States dollar|US$]]36,254.<ref name=imf2>{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2020/October/weo-report?c=193,122,124,156,423,935,128,939,172,132,134,174,532,176,178,436,136,158,542,941,946,137,546,181,138,196,142,182,359,135,576,936,961,184,144,146,528,112,111,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,LUR,LE,&sy=2018&ey=2025&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: October 2020 |publisher=International Monetary Fund |access-date=21 October 2020 |archive-date=26 October 2020 |archive-url=https://web.archive.org/web/20201026132152/https://www.imf.org/en/Publications/WEO/weo-database/2020/October/weo-report?c=193,122,124,156,423,935,128,939,172,132,134,174,532,176,178,436,136,158,542,941,946,137,546,181,138,196,142,182,359,135,576,936,961,184,144,146,528,112,111,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,LUR,LE,&sy=2018&ey=2025&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |url-status=live }}</ref> The currency is the [[New Zealand dollar]], informally known as the "Kiwi dollar"; it also circulates in the Cook Islands (see [[Cook Islands dollar]]), Niue, Tokelau, and the [[Pitcairn Islands]].<ref>{{cite web |url=http://www.bsi.si/en/financial-data.asp?MapaId=1239 |title=Currencies of the territories listed in the BS exchange rate lists |publisher=Bank of Slovenia |access-date=22 January 2011 |archive-date=4 April 2023 |archive-url=https://web.archive.org/web/20230404213432/https://www.bsi.si/en/financial-data.asp?MapaId=1239 |url-status=live }}</ref>

Historically, extractive industries have contributed strongly to New Zealand's economy, focusing at different times on sealing, whaling, [[Phormium|flax]], gold, [[kauri gum]], and native timber.<ref name="RWT export evolution">{{cite encyclopedia |url=http://www.teara.govt.nz/en/1966/trade-external/1 |title=Historical evolution and trade patterns |editor-first=Alexander |editor-last=McLintock |encyclopedia=An Encyclopaedia of New Zealand |access-date=10 February 2011 |date=November 2009 |orig-year=1966 |archive-date=4 April 2023 |archive-url=https://web.archive.org/web/20230404182546/https://www.teara.govt.nz/en/1966/trade-external/1 |url-status=live }}</ref> The first shipment of refrigerated meat on the ''[[Dunedin (ship)|Dunedin]]'' in 1882 led to the establishment of meat and dairy exports to Britain, a trade which provided the basis for strong economic growth in New Zealand.<ref>{{cite book |first1=Hugh |last1=Stringleman |first2=Robert |last2=Peden |chapter-url=http://www.teara.govt.nz/en/sheep-farming/5/2 |chapter=Sheep farming – Growth of the frozen meat trade, 1882–2001 |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=October 2009 |access-date=6 May 2010 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120164540/http://www.teara.govt.nz/en/sheep-farming/5/2 |url-status=live }}</ref> High demand for agricultural products from the United Kingdom and the United States helped New Zealanders achieve higher living standards than both Australia and Western Europe in the 1950s and 1960s.<ref>{{cite encyclopedia |editor-first=Alexander |editor-last=McLintock |title=Some Indicators of Comparative Living Standards |first=John |last=Baker |url=http://www.teara.govt.nz/en/1966/standard-of-living/1/1 |access-date=30 April 2010 |date=February 2010 |orig-year=1966 |encyclopedia=An Encyclopaedia of New Zealand |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120044909/http://www.teara.govt.nz/en/1966/standard-of-living/1/1 |url-status=live }}
[http://www.teara.govt.nz/files/3_308_StandardOfLiving_Comparison_0.pdf PDF Table] {{Webarchive|url=https://web.archive.org/web/20230725204827/https://teara.govt.nz/files/3_308_StandardOfLiving_Comparison_0.pdf |date=25 July 2023 }}</ref> In 1973, New Zealand's export market was reduced when the United Kingdom joined the [[European Economic Community]]<ref>{{cite book |first=John |last=Wilson |chapter=History – The later 20th century |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=March 2009 |chapter-url=http://www.teara.govt.nz/en/history/6 |access-date=2 February 2011 |archive-date=17 January 2013 |archive-url=https://web.archive.org/web/20130117014756/http://www.teara.govt.nz/en/history/6 |url-status=live }}</ref> and other compounding factors, such as the [[1973 oil crisis|1973 oil]] and [[1979 oil crisis|1979 energy]] crises, led to a severe [[Depression (economics)|economic depression]].<ref>{{cite book |first1=Chris |first2=John |last2=Yeabsley |chapter=Overseas trade policy – Difficult times – the 1970s and early 1980s |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=April 2010 |chapter-url=http://www.teara.govt.nz/en/overseas-trade-policy/5 |access-date=22 January 2011 |last1=Nixon |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120164742/http://www.teara.govt.nz/en/overseas-trade-policy/5 |url-status=live }}</ref> Living standards in New Zealand fell behind those of Australia and Western Europe, and by 1982 New Zealand had the lowest per-capita income of all the developed nations surveyed by [[World Bank Group|the World Bank]].<ref>{{cite magazine |last=Evans |first=N. R. |title=Up from Down Under: After a Century of Socialism, Australia and New Zealand are Cutting Back Government and Freeing Their Economies |date=January 1994 |magazine=[[National Review]] |volume=46 |issue=16 |pages=47–51}}</ref> In the mid-1980s New Zealand deregulated its [[Agriculture in New Zealand|agricultural sector]] by phasing out [[agricultural subsidy|subsidies]] over a three-year period.<ref>{{cite book |title=Trade, Food Security, and Human Rights: The Rules for International Trade in Agricultural Products and the Evolving World Food Crisis |date=2016 |publisher=[[Routledge]] |isbn=9781317008521 |page=125}}</ref><ref>{{cite news |first=Wayne |last=Arnold |title=Surviving Without Subsidies |url=https://www.nytimes.com/2007/08/02/business/worldbusiness/02farm.html?pagewanted=all |quote=... ever since a liberal but free-market government swept to power in 1984 and essentially canceled handouts to farmers .... They went cold turkey and in the process it was very rough on their farming economy |work=[[The New York Times]] |date=2 August 2007 |access-date=11 August 2015 |archive-date=5 June 2015 |archive-url=https://web.archive.org/web/20150605034715/http://www.nytimes.com/2007/08/02/business/worldbusiness/02farm.html?pagewanted=all |url-status=live }}</ref> Since 1984, successive governments engaged in major [[macroeconomic]] restructuring (known first as [[Rogernomics]] and then [[Ruthanasia]]), rapidly transforming New Zealand from a [[Protectionism|protectionist]] and highly regulated economy to a liberalised [[free-trade]] economy.<ref name="Liberalisation">{{cite book |first=Brian |last=Easton |chapter=Economic history – Government and market liberalisation |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=November 2010 |chapter-url=http://www.teara.govt.nz/en/economic-history/11 |access-date=1 February 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120174826/http://www.teara.govt.nz/en/economic-history/11 |url-status=live }}</ref><ref>{{cite book |title=Taking New Zealand Seriously: The Economics of Decency |first=Tim |last=Hazledine |publisher=[[HarperCollins]] |url= http://www.ariplex.com/~economic-myth-busters/hazledine-taking%20nz%20seriously.pdf |isbn=1-86950-283-3 |date=1998 |url-status=dead |archive-url= https://web.archive.org/web/20110510082643/http://www.ariplex.com/~economic-myth-busters/hazledine-taking%20nz%20seriously.pdf |archive-date=10 May 2011}}</ref>

[[File:MilfordSound.jpg|thumb|left|[[Milford Sound / Piopiotahi]] is one of New Zealand's most famous tourist destinations.<ref>{{cite web |url=http://www.stuff.co.nz/travel/396410 |title=NZ tops Travellers' Choice Awards |work=[[Stuff (website)|Stuff]] |date=May 2008 |access-date=30 April 2010 |archive-date=3 April 2017 |archive-url=https://web.archive.org/web/20170403041729/http://www.stuff.co.nz/travel/396410 |url-status=live }}</ref>|alt=Blue water against a backdrop of snow-capped mountains]]
Unemployment peaked just above 10% in 1991 and 1992,<ref name="unemployment">{{cite web |url=http://www.socialreport.msd.govt.nz/paid-work/unemployment.html |title=Unemployment: the Social Report 2016 – Te pūrongo oranga tangata |publisher=[[New Zealand Ministry of Social Development]] |access-date=18 August 2017 |archive-date=20 April 2023 |archive-url=https://web.archive.org/web/20230420221647/https://www.socialreport.msd.govt.nz/paid-work/unemployment.html |url-status=live }}</ref> following the [[Black Monday (1987)#New Zealand|1987 share market crash]], but eventually fell to 3.7% in 2007 (ranking third from twenty-seven comparable OECD nations).<ref name="unemployment" /> However, the [[Financial crisis of 2007–2008|global financial crisis]] that followed had a major effect on New Zealand, with the GDP shrinking for five consecutive quarters, the longest recession in over thirty years,<ref>{{cite news |url=https://www.nytimes.com/2009/06/11/business/global/11nzrate.html |title=New Zealand Takes a Pause in Cutting Rates |date=10 June 2009 |work=The New York Times |access-date=30 April 2010 |archive-date=13 June 2018 |archive-url=https://web.archive.org/web/20180613022326/https://www.nytimes.com/2009/06/11/business/global/11nzrate.html |url-status=live }}</ref><ref>{{cite news |url=http://news.bbc.co.uk/2/hi/business/8120196.stm |title=New Zealand's slump longest ever |date=26 June 2009 |work=BBC News |access-date=30 April 2010 |archive-date=12 June 2018 |archive-url=https://web.archive.org/web/20180612224309/http://news.bbc.co.uk/2/hi/business/8120196.stm |url-status=live }}</ref> and unemployment rising back to 7% in late 2009.<ref>{{cite web |title=Household Labour Force Survey: December 2010 quarter – Media Release |url= http://www.stats.govt.nz/browse_for_stats/work_income_and_spending/employment_and_unemployment/HouseholdLabourForceSurvey_MRDec10qtr.aspx |archive-url= https://web.archive.org/web/20110429174323/http://www.stats.govt.nz/browse_for_stats/work_income_and_spending/employment_and_unemployment/HouseholdLabourForceSurvey_MRDec10qtr.aspx |archive-date=29 April 2011 |first=Geoff |last=Bascand |date=February 2011 |publisher=[[Statistics New Zealand]] |access-date=4 February 2011}}</ref> The lowest unemployment rate recorded using the current methodology was in December 2021 during the [[COVID-19 pandemic]], at 3.2%.<ref>{{cite web |last1=Pullar-Strecker |first1=Tom |title=NZ unemployment expected to remain near record low despite chill wind |url=https://www.stuff.co.nz/business/131079395/nz-unemployment-expected-to-remain-near-record-low-despite-chill-wind |website=Stuff |access-date=12 March 2024 |date=30 January 2023}}</ref> Unemployment rates for different age groups follow similar trends but are consistently higher among youth. During the September 2021 quarter, the general unemployment rate was around 3.2%, while the unemployment rate for youth aged 15 to 24 was 9.2%.<ref name="unemployment" /><ref>{{cite web |title=Youth unemployment rate three times national average {{!}} Stats NZ |url=https://www.stats.govt.nz/news/youth-unemployment-rate-three-times-national-average |website=Statistics New Zealand |access-date=12 March 2024 |date=2 December 2021}}</ref> New Zealand has experienced a series of "[[brain drain]]s" since the 1970s<ref>{{cite journal |last=Davenport |first=Sally |title=Panic and panacea: Brain drain and science and technology human capital policy |journal=Research Policy |volume=33 |date=2004 |issue=4 |pages=617–630 |doi=10.1016/j.respol.2004.01.006}}</ref> that still continue today.<ref>{{cite news |first=Sean |last=O'Hare |title=New Zealand brain-drain worst in world |date=September 2010 |work=[[The Daily Telegraph]] |url= https://www.telegraph.co.uk/expat/expatnews/7973220/New-Zealand-brain-drain-worst-in-world.html |archive-url=https://ghostarchive.org/archive/20220110/https://www.telegraph.co.uk/expat/expatnews/7973220/New-Zealand-brain-drain-worst-in-world.html |archive-date=10 January 2022 |url-access=subscription |url-status=live}}{{cbignore}}</ref> Nearly one-quarter of highly skilled workers live overseas, mostly in Australia and Britain, which is the largest proportion from any developed nation.<ref>{{cite news |title=Quarter of NZ's brightest are gone |first=Simon |last=Collins |date=March 2005 |work=[[The New Zealand Herald]] |url=http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10114923 |access-date=22 January 2011 |archive-date=2 June 2023 |archive-url=https://web.archive.org/web/20230602205357/https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10114923 |url-status=live }}</ref> In recent decades, however, a "brain gain" has brought in educated professionals from Europe and less developed countries.<ref>{{Cite journal |last=Winkelmann |first=Rainer |title=The labour market performance of European immigrants in New Zealand in the 1980s and 1990s |date=2000 |journal=The International Migration Review |volume=33 |pages=33–58 |doi=10.2307/2676011 |jstor=2676011 |issue=1 |publisher=The Center for Migration Studies of New York}} Journal subscription required</ref>{{sfn|Bain|2006|p=44}} Today New Zealand's economy benefits from a high level of [[innovation]].<ref>{{cite web |title=GII 2016 Report |publisher=[[Global Innovation Index]] |url=https://www.globalinnovationindex.org/userfiles/file/reportpdf/gii-full-report-2016-v1.pdf |format=PDF |access-date=21 June 2018 |archive-date=30 July 2017 |archive-url=https://web.archive.org/web/20170730160631/https://www.globalinnovationindex.org/ |url-status=live }}</ref>

[[Poverty in New Zealand]] is characterised by growing income inequality; wealth in New Zealand is [[Economic inequality in New Zealand|highly concentrated]],<ref>{{cite web |title=Income inequality |url=http://archive.stats.govt.nz/browse_for_stats/snapshots-of-nz/nz-progress-indicators/Home/Social/income-inequality.aspx |website=NZ Progress Indicators |publisher=[[Statistics New Zealand]] |archive-url=https://web.archive.org/web/20200731201824/http://archive.stats.govt.nz/browse_for_stats/snapshots-of-nz/nz-progress-indicators/Home/Social/income-inequality.aspx |archive-date=31 July 2020}}</ref> with the top 1% of the population owning 16% of the country's wealth, and the richest 5% owning 38%, leaving a stark contrast where half the population, including [[Welfare in New Zealand|state beneficiaries]] and pensioners, receive less than $24,000.<ref>{{cite news |last1=Pearl |first1=Harry |title=NZ income gap at crisis level – author |url=https://www.stuff.co.nz/national/9182609/NZ-income-gap-at-crisis-level-author |access-date=24 July 2023 |work=Stuff |date=18 September 2013 |language=en |archive-date=23 July 2023 |archive-url=https://web.archive.org/web/20230723124153/https://www.stuff.co.nz/national/9182609/NZ-income-gap-at-crisis-level-author |url-status=live }}</ref> Moreover, [[child poverty in New Zealand]] has been identified by the Government as a major societal issue;<ref name="Chpov">{{Cite news |date=13 October 2020 |title=NZ election: The people left behind in Ardern's 'kind' New Zealand |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-asia-54444643 |access-date=27 August 2021 |archive-date=27 October 2021 |archive-url=https://web.archive.org/web/20211027120812/https://www.bbc.com/news/world-asia-54444643 |url-status=live }}</ref><ref>{{cite web |title=Reducing child poverty |url=https://www.dpmc.govt.nz/our-programmes/reducing-child-poverty |website=www.dpmc.govt.nz |publisher=Department of the Prime Minister and Cabinet (DPMC) |access-date=24 July 2023 |language=en |date=22 April 2022 |archive-date=23 July 2023 |archive-url=https://web.archive.org/web/20230723122311/https://www.dpmc.govt.nz/our-programmes/reducing-child-poverty |url-status=live }}</ref> the country has 12.0% of children living in low-income households that had less than 50 percent of the median equivalised disposable household income {{as of|June 2022|lc=on}}.<ref>{{Cite web |title=Child poverty statistics show no annual change in the year ended June 2022 {{!}} Stats NZ |url=https://www.stats.govt.nz/news/child-poverty-statistics-show-no-annual-change-in-the-year-ended-june-2022 |access-date=29 May 2023 |website=www.stats.govt.nz |archive-date=29 May 2023 |archive-url=https://web.archive.org/web/20230529125041/https://www.stats.govt.nz/news/child-poverty-statistics-show-no-annual-change-in-the-year-ended-june-2022 |url-status=live }}</ref> Poverty has a disproportionately high effect in ethnic-minority households, with a quarter (23.3%) of Māori children and almost a third (28.6%) of Pacific Islander children living in poverty {{as of|2020|lc=on}}.<ref name="Chpov"/>

===Trade===
New Zealand is heavily dependent on international trade,<ref>{{cite web |first=Tim |last=Groser |date=March 2009 |title=Speech to ASEAN-Australia-New Zealand Free Trade Agreement Seminars |url=http://www.beehive.govt.nz/speech/speech-asean-australia-new-zealand-free-trade-agreement-seminars |publisher=New Zealand Government |access-date=30 January 2011 |archive-date=10 July 2023 |archive-url=https://web.archive.org/web/20230710061833/https://www.beehive.govt.nz/speech/speech-asean-australia-new-zealand-free-trade-agreement-seminars |url-status=live }}</ref> particularly in agricultural products.<ref>{{cite web |url=http://www.mfat.govt.nz/Trade-and-Economic-Relations/NZ-and-the-WTO/Improving-access-to-markets/0-agriculturenegs.php |title=Improving Access to Markets:Agriculture |publisher=[[New Zealand Ministry of Foreign Affairs and Trade]] |access-date=22 January 2011 |archive-date=8 December 2015 |archive-url=https://web.archive.org/web/20151208075407/http://www.mfat.govt.nz/Trade-and-Economic-Relations/NZ-and-the-WTO/Improving-access-to-markets/0-agriculturenegs.php |url-status=dead }}</ref> Exports account for 24% of its output,<ref name="CIA" /> making New Zealand vulnerable to international commodity prices and global [[Recession|economic slowdowns]]. Food products made up 55% of the value of all the country's exports in 2014; wood was the second largest earner (7%).<ref>{{cite web |url=http://www.stats.govt.nz/infoshare |title=Standard International Trade Classification R4 – Exports (Annual-Jun) |publisher=[[Statistics New Zealand]] |date=April 2015 |access-date=3 April 2015 |archive-date=8 April 2015 |archive-url=https://web.archive.org/web/20150408082252/http://www.stats.govt.nz/infoshare/ |url-status=live }}</ref> New Zealand's main trading partners, {{as of|June 2018|alt=as at June 2018}}, are China ([[NZ$]]27.8b), Australia ($26.2b), the [[European Union]] ($22.9b), the United States ($17.6b), and Japan ($8.4b).<ref name="GSTC StatNZ">{{cite web |title= Goods and services trade by country: Year ended June 2018 – corrected |url= https://www.stats.govt.nz/information-releases/goods-and-services-trade-by-country-year-ended-june-2018 |publisher= [[Statistics New Zealand]] |access-date= 17 February 2019 |archive-date= 31 March 2022 |archive-url= https://web.archive.org/web/20220331190732/https://www.stats.govt.nz/information-releases/goods-and-services-trade-by-country-year-ended-june-2018 |url-status= live }}</ref> On 7 April 2008, New Zealand and China signed the [[New Zealand–China Free Trade Agreement]], the first such agreement China has signed with a developed country.<ref>{{cite news|title=China and New Zealand sign free trade deal|date=April 2008|url=https://www.nytimes.com/2008/04/07/business/worldbusiness/07iht-7tradefw.11718461.html|work=The New York Times|access-date=22 February 2017|archive-date=3 April 2017|archive-url=https://web.archive.org/web/20170403041332/http://www.nytimes.com/2008/04/07/business/worldbusiness/07iht-7tradefw.11718461.html|url-status=live}}</ref> In July 2023, New Zealand and the European Union entered into the [[New Zealand–European Union relations#EU-NZ free trade agreement|EU–New Zealand Free Trade Agreement]], which eliminated tariffs on several goods traded between the two regions.<ref>{{cite web |title=EU and New Zealand sign ambitious free trade agreement |url=https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_23_3715/IP_23_3715_EN.pdf |website=European Commission |access-date=17 October 2023 |archive-date=19 October 2023 |archive-url=https://web.archive.org/web/20231019000716/https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_23_3715/IP_23_3715_EN.pdf |url-status=live }}</ref> This free trade agreement expanded on the pre-existing free trade agreement<ref>{{cite web |last1=Ardern |first1=Jacinda |last2=O'Connor |first2=Damien |title=New Zealand secures major free trade deal with European Union |url=https://www.beehive.govt.nz/release/new-zealand-secures-major-free-trade-deal-european-union |website=beehive.govt.nz |access-date=17 October 2023 |archive-date=10 April 2023 |archive-url=https://web.archive.org/web/20230410010028/https://www.beehive.govt.nz/release/new-zealand-secures-major-free-trade-deal-european-union |url-status=live }}</ref> and saw a reduction in tariffs on meat and dairy<ref>{{cite web |title=Key points from New Zealand's free trade agreement with the EU |url=https://my.nzte.govt.nz/article/eu-nz-fta-negotiations-concluded |website=myNZTE |access-date=17 October 2023 |archive-date=19 October 2023 |archive-url=https://web.archive.org/web/20231019000715/https://my.nzte.govt.nz/article/eu-nz-fta-negotiations-concluded |url-status=live }}</ref> in response to feedback from the affected industries.<ref>{{cite news |last1=Gray |first1=Jamie |title=Primary sector gives its verdict on NZ-EU Free Trade Agreement |url=https://www.nzherald.co.nz/business/primary-sector-gives-its-verdict-on-nz-eu-free-trade-agreement/ |access-date=17 October 2023 |work=nzherald |agency=NZME |date=1 July 2022 }}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

The service sector is the largest sector in the economy, followed by manufacturing and construction and then farming and raw material extraction.<ref name="CIA">{{cite web |title=New Zealand |work=[[The World Factbook]] |date=25 February 2021 |publisher=[[US Central Intelligence Agency]] |url=https://www.cia.gov/the-world-factbook/countries/new-zealand/ |access-date=20 March 2021 |archive-date=9 January 2021 |archive-url=https://web.archive.org/web/20210109223000/https://www.cia.gov/the-world-factbook/countries/new-zealand/ |url-status=live }}</ref> [[Tourism in New Zealand|Tourism]] plays a significant role in the economy, contributing $12.9 billion (or 5.6%) to New Zealand's total GDP and supporting 7.5% of the total workforce in 2016.<ref name="TourismStats">{{cite web |title=Key Tourism Statistics |url= http://www.mbie.govt.nz/info-services/sectors-industries/tourism/documents-image-library/key-tourism-statistics.pdf |publisher=[[Ministry of Business, Innovation and Employment]] |access-date=26 April 2017 |date=26 April 2017 |archive-url= https://web.archive.org/web/20170427004444/http://www.mbie.govt.nz/info-services/sectors-industries/tourism/documents-image-library/key-tourism-statistics.pdf |archive-date=27 April 2017 |url-status=dead}}</ref> In 2017, international visitor arrivals were expected to increase at a rate of 5.4% annually up to 2022.<ref name="TourismStats" />

[[File:Fauna de Nueva Zelanda07.JPG|thumb|right|Wool has historically been one of New Zealand's major exports.|alt=A Romney ewe with her two lambs]]

Wool was New Zealand's major agricultural export during the late 19th century.<ref name="RWT export evolution" /> Even as late as the 1960s it made up over a third of all export revenues,<ref name="RWT export evolution" /> but since then its price has steadily dropped relative to other commodities,<ref>{{cite book |first=Brian |last=Easton |chapter=Economy – Agricultural production |date=March 2009 |title=[[Te Ara: The Encyclopedia of New Zealand]] |chapter-url=http://www.teara.govt.nz/en/economy/2 |access-date=22 January 2011 |archive-date=28 January 2013 |archive-url=https://web.archive.org/web/20130128144722/http://www.teara.govt.nz/en/economy/2 |url-status=live }}</ref> and wool is no longer profitable for many farmers.<ref>{{cite book |first1=Hugh |last1=Stringleman |first2=Robert |last2=Peden |chapter=Sheep farming – Changes from the 20th century |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=March 2009 |chapter-url=http://www.teara.govt.nz/en/sheep-farming/7 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120154339/http://www.teara.govt.nz/en/sheep-farming/7 |url-status=live }}</ref> In contrast, [[Dairy farming in New Zealand|dairy farming]] increased, with the number of dairy cows doubling between 1990 and 2007,<ref>{{cite book |first1=Hugh |last1=Stringleman |first2=Frank |last2=Scrimgeour |chapter=Dairying and dairy products – Dairying in the 2000s |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=November 2009 |chapter-url=http://www.teara.govt.nz/en/dairying-and-dairy-products/10 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120174330/http://www.teara.govt.nz/en/dairying-and-dairy-products/10 |url-status=live }}</ref> to become New Zealand's largest export earner.<ref>{{cite book |first1=Hugh |last1=Stringleman |first2=Frank |last2=Scrimgeour |chapter=Dairying and dairy products – Dairy exports |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=March 2009 |chapter-url=http://www.teara.govt.nz/en/dairying-and-dairy-products/11 |access-date=4 February 2011 |archive-date=14 January 2013 |archive-url=https://web.archive.org/web/20130114071611/http://www.teara.govt.nz/en/dairying-and-dairy-products/11 |url-status=live }}</ref> In the year to June 2018, dairy products accounted for 17.7% ($14.1 billion) of total exports,<ref name="GSTC StatNZ" /> and the country's largest company, [[Fonterra]], controls almost one-third of the international dairy trade.<ref>{{cite book |first1=Hugh |last1=Stringleman |first2=Frank |last2=Scrimgeour |chapter=Dairying and dairy products – Manufacturing and marketing in the 2000s |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=March 2009 |chapter-url=http://www.teara.govt.nz/en/dairying-and-dairy-products/12 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120175347/http://www.teara.govt.nz/en/dairying-and-dairy-products/12 |url-status=live }}</ref> Other exports in 2017–18 were meat (8.8%), wood and wood products (6.2%), fruit (3.6%), machinery (2.2%) and wine (2.1%).<ref name="GSTC StatNZ" /> [[New Zealand wine|New Zealand's wine]] industry has followed a similar trend to dairy, the number of vineyards doubling over the same period,<ref>{{cite book |first=Bronwyn |last=Dalley |chapter=Wine – The wine boom, 1980s and beyond |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=March 2009 |chapter-url=http://www.teara.govt.nz/en/wine/6 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120153949/http://www.teara.govt.nz/en/wine/6 |url-status=live }}</ref> overtaking wool exports for the first time in 2007.<ref>{{cite news|title=Wine in New Zealand|newspaper=The Economist|date=27 March 2008|url=http://www.economist.com/node/10926423|access-date=29 April 2017|archive-date=21 October 2017|archive-url=https://web.archive.org/web/20171021054420/http://www.economist.com/node/10926423|url-status=live}}</ref><ref>{{cite web |url= http://www.maf.govt.nz/news-resources/statistics-forecasting/international-trade.aspx |title=Agricultural and forestry exports from New Zealand: Primary sector export values for the year ending June 2010 |publisher=[[New Zealand Ministry of Agriculture and Forestry]] |date=14 January 2011 |access-date=8 April 2011 |url-status=dead |archive-url= https://web.archive.org/web/20110510042204/http://www.maf.govt.nz/news-resources/statistics-forecasting/international-trade.aspx |archive-date=10 May 2011}}</ref>

===Infrastructure===
In 2015, [[Renewable energy in New Zealand|renewable energy]] generated 40.1% of [[Energy in New Zealand|New Zealand's gross energy]] supply.<ref name="Energy2015">{{cite report |title=Energy in New Zealand 2016 |publisher=[[New Zealand Ministry of Business, Innovation and Employment]] |date=September 2016 |issn=2324-5913 |page=47 |url= http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/publications/energy-in-new-zealand/energy-in-nz-2016.pdf |url-status=dead |archive-url= https://web.archive.org/web/20170503234030/http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/publications/energy-in-new-zealand/energy-in-nz-2016.pdf |archive-date=3 May 2017}}</ref> The majority of the country's [[Electricity sector in New Zealand|electricity supply]] is generated from [[Hydroelectric power in New Zealand|hydroelectric power]], with major schemes on the [[Waikato River|Waikato]], [[Waitaki River|Waitaki]] and [[Clutha River / Mata-Au|Clutha / Mata-Au]] rivers, as well as at [[Manapouri Power Station|Manapouri]]. [[Geothermal power in New Zealand|Geothermal power]] is also a significant generator of electricity, with several large stations located across the Taupō Volcanic Zone in the North Island. The four main companies in the generation and retail market are [[Contact Energy]], [[Genesis Energy Limited|Genesis Energy]], [[Mercury Energy]] and [[Meridian Energy]]. State-owned [[Transpower New Zealand|Transpower]] operates the high-voltage transmission grids in the North and South Islands, as well as the [[HVDC Inter-Island|Inter-Island HVDC link]] connecting the two together.<ref name="Energy2015" />

The provision of [[water supply and sanitation in New Zealand|water supply and sanitation]] is generally of good quality. Regional authorities provide water abstraction, treatment and distribution infrastructure to most developed areas.<ref>{{cite web |title=Appendix 1: Technical information about drinking water supply in the eight local authorities |url=http://www.oag.govt.nz/2010/water/part1.htm |publisher=Office of the Auditor-General |access-date=2 September 2016 |archive-date=17 September 2016 |archive-url=https://web.archive.org/web/20160917025934/http://www.oag.govt.nz/2010/water/part1.htm |url-status=live }}</ref><ref>{{cite web |title=Water supply |url=http://www.gw.govt.nz/water/ |publisher=Greater Wellington Regional Council |access-date=2 September 2016 |archive-date=1 September 2016 |archive-url=https://web.archive.org/web/20160901015232/http://www.gw.govt.nz/water |url-status=live }}</ref>

[[File:Air New Zealand, Boeing 787-9 ZK-NZE 'All Blacks' NRT (27091961041).jpg|thumb|left|A [[Boeing 787 Dreamliner|Boeing 787–9 Dreamliner]] of [[Air New Zealand]], the flag carrier of New Zealand|alt=A mid-size jet airliner in flight. The plane livery is all-black and features a New Zealand silver fern mark.]]
[[Transport in New Zealand|New Zealand's transport]] network comprises {{convert|94000|km|mi|-1}} of roads, including {{convert|199|km|mi|0}} of motorways,<ref>{{cite web |title=State highway frequently asked questions |url=http://www.nzta.govt.nz/roads-and-rail/research-and-data/state-highway-frequently-asked-questions/ |publisher=[[NZ Transport Agency]] |access-date=28 April 2017 |archive-date=7 May 2017 |archive-url=https://web.archive.org/web/20170507225945/https://www.nzta.govt.nz/roads-and-rail/research-and-data/state-highway-frequently-asked-questions/ |url-status=live }}</ref> and {{convert|4128|km|mi|0}} of railway lines.<ref name="CIA" /> Most major cities and towns are linked by bus services, although the private car is the predominant mode of transport.<ref>{{cite book |first=Adrian |last=Humphris |chapter=Public transport – Passenger trends |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=April 2010 |chapter-url=http://www.teara.govt.nz/en/public-transport/8 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120183655/http://www.teara.govt.nz/en/public-transport/8 |url-status=live }}</ref> The [[Rail transport in New Zealand|railways]] were privatised in 1993 but were re-nationalised by the government in stages between 2004 and 2008. The state-owned enterprise [[KiwiRail]] now operates the railways, with the exception of commuter services in Auckland and Wellington, which are operated by [[Auckland One Rail]] and [[Transdev Wellington]] respectively.<ref>{{cite book |first=Neill |last=Atkinson |chapter=Railways – Rail transformed |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=November 2010 |chapter-url=http://www.teara.govt.nz/en/railways/11 |access-date=22 January 2011 |archive-date=20 January 2013 |archive-url=https://web.archive.org/web/20130120195420/http://www.teara.govt.nz/en/railways/11 |url-status=live }}</ref> Railways run the length of the country, although most lines now carry freight rather than passengers.<ref>{{cite book |first=Neill |last=Atkinson |chapter=Railways – Freight transport |title=[[Te Ara: The Encyclopedia of New Zealand]] |date=April 2010 |chapter-url=http://www.teara.govt.nz/en/railways/6 |access-date=22 January 2011 |archive-date=17 January 2013 |archive-url=https://web.archive.org/web/20130117013535/http://www.teara.govt.nz/en/railways/6 |url-status=live }}</ref> The road and rail networks in the two main islands are linked by [[roll-on/roll-off]] ferries between Wellington and [[Picton, New Zealand|Picton]], operated by [[Interislander]] (part of KiwiRail) and [[StraitNZ|Bluebridge]]. Most international visitors arrive via air.<ref>{{cite web|url=http://www.tourismresearch.govt.nz/Documents/International%20Market%20Profiles/Total%20Profile.pdf|title=International Visitors|date=June 2009|publisher=[[Ministry of Economic Development (New Zealand)|Ministry of Economic Development]]|access-date=30 January 2011|archive-date=16 October 2011|archive-url=https://web.archive.org/web/20111016173709/http://www.tourismresearch.govt.nz/Documents/International%20Market%20Profiles/Total%20Profile.pdf|url-status=live}}</ref> New Zealand has [[List of airports in New Zealand|four international airports]]: [[Auckland Airport|Auckland]], [[Christchurch Airport|Christchurch]], [[Queenstown Airport|Queenstown]] and [[Wellington Airport|Wellington]]; however, only Auckland and Christchurch offer non-stop flights to countries other than Australia or Fiji.<ref>{{cite web |url= http://www.med.govt.nz/templates/MultipageDocumentPage____9038.aspx#P5641_412038 |publisher=Ministry of Economic Development |work=Infrastructure Stocktake: Infrastructure Audit |title=10. Airports |date=December 2005 |access-date=30 January 2011 |url-status=dead |archive-url= https://web.archive.org/web/20100522203825/http://www.med.govt.nz/templates/MultipageDocumentPage____9038.aspx |archive-date=22 May 2010}}</ref>

The [[New Zealand Post Office]] had a monopoly over [[telecommunications in New Zealand]] until 1987 when [[Spark New Zealand|Telecom New Zealand]] was formed, initially as a state-owned enterprise and then privatised in 1990.<ref name="Wilson2010">{{cite book |last1=Wilson |first1=A. C. |chapter=Telecommunications – Telecom |chapter-url=https://www.teara.govt.nz/en/telecommunications/page-6 |title=[[Te Ara: The Encyclopedia of New Zealand]] |access-date=11 August 2017 |date=March 2010 |archive-date=11 August 2017 |archive-url=https://web.archive.org/web/20170811055436/https://www.teara.govt.nz/en/telecommunications/page-6 |url-status=live }}</ref> [[Chorus Limited|Chorus]], which was split from Telecom (now Spark) in 2011,<ref>{{cite web |title=Telecom separation |url= http://www.mbie.govt.nz/info-services/sectors-industries/technology-communications/communications/previous-reviews-and-consultations/telecom-separation |publisher=[[New Zealand Ministry of Business, Innovation and Employment]] |access-date=11 August 2017 |date=14 September 2015 |archive-url= https://web.archive.org/web/20170811055739/http://www.mbie.govt.nz/info-services/sectors-industries/technology-communications/communications/previous-reviews-and-consultations/telecom-separation |archive-date=11 August 2017|url-status=dead}}</ref> still owns the majority of the telecommunications infrastructure, but competition from other providers has increased.<ref name="Wilson2010" /> A large-scale rollout of gigabit-capable [[fibre to the premises]], branded as [[Ultra-Fast Broadband]], began in 2009 with a target of being available to 87% of the population by 2022.<ref>{{cite web |url=https://www.mbie.govt.nz/science-and-technology/it-communications-and-broadband/fast-broadband/broadband-and-mobile-programmes/ |title=Broadband and mobile programmes |publisher=[[New Zealand Ministry of Business, Innovation and Employment]] |work=MBIE.Govt.nz |access-date=11 August 2017 |archive-date=19 December 2018 |archive-url=https://web.archive.org/web/20181219134555/https://www.mbie.govt.nz/science-and-technology/it-communications-and-broadband/fast-broadband/broadband-and-mobile-programmes/ |url-status=live }}</ref> {{As of|2017}}, the United Nations [[International Telecommunication Union]] ranks New Zealand 13th in the development of information and communications infrastructure.<ref>{{cite web |title=2017 Global ICT Development Index |url=http://www.itu.int/net4/ITU-D/idi/2017/ |publisher=[[International Telecommunication Union]] |access-date=18 September 2018 |date=2018 |archive-date=20 September 2018 |archive-url=https://web.archive.org/web/20180920191221/http://www.itu.int/net4/ITU-D/idi/2017/ |url-status=live }}</ref>

===Science and technology===

Early indigenous contribution to science in New Zealand was by Māori {{lang|mi|[[tohunga]]}} accumulating knowledge of agricultural practice and the effects of herbal remedies in the treatment of illness and disease.<ref>{{Cite journal|last=Voyce|first=Malcolm|date=1989|title=Maori Healers in New Zealand: The Tohunga Suppression Act 1907|url=https://onlinelibrary.wiley.com/doi/abs/10.1002/j.1834-4461.1989.tb02347.x|journal=Oceania|language=en|volume=60|issue=2|pages=99–123|doi=10.1002/j.1834-4461.1989.tb02347.x|issn=1834-4461|access-date=6 April 2021|archive-date=15 August 2021|archive-url=https://web.archive.org/web/20210815154547/https://onlinelibrary.wiley.com/doi/abs/10.1002/j.1834-4461.1989.tb02347.x|url-status=live}}</ref> [[James Cook|Cook]]'s voyages in the 1700s and [[Charles Darwin|Darwin]]'s in 1835 had important scientific botanical and zoological objectives.<ref name="Science New Zealand">{{cite encyclopedia |editor-first=Alexander |editor-last=McLintock |title=Science – History and Organisation in New Zealand |encyclopedia=An Encyclopaedia of New Zealand |url=https://teara.govt.nz/en/1966/science-history-and-organisation-in-new-zealand |date=April 2009 |orig-year=1966 |access-date=14 April 2020 |archive-date=13 April 2020 |archive-url=https://web.archive.org/web/20200413030902/https://teara.govt.nz/en/1966/science-history-and-organisation-in-new-zealand |url-status=live }}</ref> The establishment of universities in the 19th century fostered scientific discoveries by notable New Zealanders including [[Ernest Rutherford]] for splitting the atom, [[Bill Pickering (rocket scientist)|William Pickering]] for rocket science, [[Maurice Wilkins]] for helping discover DNA, [[Beatrice Tinsley]] for galaxy formation, [[Archibald McIndoe]] for plastic surgery, and [[Alan MacDiarmid]] for conducting polymers.<ref name="New Zealand Herald">{{cite web |last=Morton |first=Jamie |title=150 years of Kiwi science |work=[[The New Zealand Herald]] |url=https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11830407 |date=5 April 2017 |access-date=14 April 2020 |archive-date=5 August 2020 |archive-url=https://web.archive.org/web/20200805050855/https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11830407 |url-status=live }}</ref>

[[Crown Research Institute]]s (CRIs) were formed in 1992 from existing government-owned research organisations. Their role is to research and develop new science, knowledge, products and services across the economic, environmental, social and cultural spectrum for the benefit of New Zealand.<ref>{{cite web |title=Crown Research Institutes |url=https://www.mbie.govt.nz/science-and-technology/science-and-innovation/agencies-policies-and-budget-initiatives/research-organisations/cri/ |work=MBIE.Govt.nz |publisher=[[New Zealand Ministry of Business, Innovation and Employment]] |access-date=14 April 2020 |archive-date=27 May 2020 |archive-url=https://web.archive.org/web/20200527110340/https://www.mbie.govt.nz/science-and-technology/science-and-innovation/agencies-policies-and-budget-initiatives/research-organisations/cri/ |url-status=live }}</ref> The total gross expenditure on [[research and development]] (R&D) as a proportion of GDP rose to 1.37% in 2018, up from 1.23% in 2015. New Zealand ranks 21st in the OECD for its gross R&D spending as a percentage of GDP.<ref>{{cite web |title=Research and development (R&D) – Gross domestic spending on R&D – OECD Data |url=https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm |publisher=[[Organisation for Economic Co-operation and Development]] |access-date=14 April 2020 |date=2018 |archive-date=14 January 2017 |archive-url=https://web.archive.org/web/20170114013730/https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm |url-status=live }}</ref> New Zealand was ranked 27th in the [[Global Innovation Index]] in 2023.<ref>{{Cite journal |last=WIPO |title=Global Innovation Index 2023, 15th Edition |url=https://www.wipo.int/global_innovation_index/en/2023/index.html |access-date=23 October 2023 |website=www.wipo.int |doi=10.34667/tind.46596 |language=en |archive-date=22 October 2023 |archive-url=https://web.archive.org/web/20231022042128/https://www.wipo.int/global_innovation_index/en/2023/index.html |url-status=live }}</ref>

The [[New Zealand Space Agency]] was created by the government in 2016 for space policy, regulation and sector development. [[Rocket Lab]] was the notable first commercial rocket launcher in the country.<ref>{{Cite web|url=https://www.mbie.govt.nz/science-and-technology/space/|title=New Zealand Space Agency &#124; Ministry of Business, Innovation & Employment|access-date=7 July 2023|archive-date=30 May 2023|archive-url=https://web.archive.org/web/20230530202333/https://www.mbie.govt.nz/science-and-technology/space/|url-status=live}}</ref>

The majority of private and commercial research organisations in New Zealand are focused on the agricultural and fisheries sectors. Examples include the [[Cawthron Institute]], the [[Livestock Improvement Corporation]], the [[Fonterra#Fonterra_Research_and_Development_Centre|Fonterra Research and Development Centre]], the [[New_Zealand_Winegrowers#Bragato_Research_Institute|Bragato Research Institute]], the [[Zespri#Kiwifruit_Breeding_Centre|Kiwifruit Breeding Centre]], and [[Beef_%2B_Lamb_New_Zealand#B+LNZ_Genetics|B+LNZ Genetics]].