New Zealand

Economy

The industries with major contribution to the national economy are: manufacturing with 13.3% of GDP; rental, hiring and real estate services with 12.4% of GDP; and the professional, scientific, technical, administrative and support with 8.7% of GDP.

The food manufacturing industry produces high-quality products for both the domestic and export market, with meat and dairy providing the biggest output.

This industry enjoys the advantages of a natural environment that is highly conducive to pastoral agriculture, an absence of major agricultural diseases, the potential for year-round production and an international reputation for excellence.

The agricultural, horticultural, forestry, mining and fishing industries play a fundamentally important role in New Zealand's economy, particularly in the export sector and in employment.

FarmingAustralia is the biggest export market for New Zealand with the United States being second. Overall, the primary sector directly accounts for 6.0% of real GDP, being dairy responsible for 47.6% of total, and contributes over 50% of New Zealand's total export earnings.

Wine and kiwifruit are the principal horticultural products. Coal is New Zealand's most abundant energy resource, it is found in 42 coalfields most of them centred on the Waikato, the West Coast and Otago/Southland.

Besides that, New Zealand has a significant natural energy of natural gas and oil/condensate, extensive geothermal fields, and a geography and climate which have supported substantial hydro-electric development.