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 20 April 2017. 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 24 May 2017.

The Secretariat’s draft report was prepared for the Committee by David Carey and Andrew Barker under the supervision of Mr. Peter Jarrett. Research assistance was provided by Ms. Isabelle Luong. Ms. Heloise Wickramanayake formatted and produced the layout. The previous Survey of New Zealand was issued in June 2015.

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, 2016
(Numbers in parentheses refer to the OECD average)*

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

4.7

Population density per km2

17.1

(35.4)

 Under 15 (%)

19.6

(18.0)

Life expectancy (years)

82.4

(81.0)

 Over 65 (%)

14.9

(16.5)

 Men

80.8

(78.4)

 Foreign-born (%, 2013)

22.4

 Women

81.3

(80.6)

Latest 5-year average growth (%)

1.3

(0.6)

Latest general election

September 2014

ECONOMY

Gross domestic product (GDP)

Value added shares (%, 2015)

 In current prices (billion USD)

182.0

 Primary sector

5.2

(2.5)

 In current prices (billion NZD)

261.2

 Industry including construction

23.4

(26.6)

 Latest 5-year average real growth (%)

2.9

(1.8)

 Services

71.4

(70.9)

 Per capita (000 USD PPP)

38.1

(42.1)

GENERAL GOVERNMENT

Per cent of GDP

Expenditure (2015)

41.4

(40.9)

Gross financial debta

38.6

(112.3)

Revenue (2015)

41.4

(38.0)

Net financial debta

4.9

(72.8)

EXTERNAL ACCOUNTS

Exchange rate (NZD per USD)

1.435

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

1.453

 Food and live animals

54.2

In per cent of GDP

 Crude materials, inedible, except fuels

12.8

 Exports of goods and services

26.8

(53.8)

 Machinery and transport equipment

7.2

 Imports of goods and services

26.0

(49.3)

Main imports (% of total merchandise imports)

 Current account balance

-2.7

(0.3)

 Machinery and transport equipment

40.1

 Net international investment position

-60.9

 Miscellaneous manufactured articles

14.7

 Manufactured goods

11.5

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

75.6

(67.0)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

5.1

(6.3)

 Men

80.7

(74.7)

 Youth (age 15-24, %)

13.2

(13.0)

 Women

70.6

(59.3)

 Long-term unemployed (1 year and over, %, 2015)

0.7

(2.2)

Participation rate for 15-64 year-olds (%, 2015)

79.0

(71.3)

Tertiary educational attainment 25-64 year-olds (%, 2015)

34.0

(35.0)

Average hours worked per year (2015)

1 757

(1 766)

Gross domestic expenditure on R&D (% of GDP, 2015)

1.3

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe, 2015)

4.5

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2014)

6.9

(9.3)

 Renewables (%, 2015)

40.5

(9.6)

Water abstractions per capita (1 000 m3, 2010)

1.2

Exposure to air pollution (more than 10 μg/m3 of PM2.5, % of population, 2015)

5.8

(75.2)

Municipal waste per capita (tonnes, 2015)

0.7

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2012b)

0.333

(0.311)

Education outcomes (PISA score, 2015)

Relative poverty rate (%, 2012b)

9.9

(11.1)

 Reading

509

(493)

Median disposable household income (000 USD PPP, 2012b)

23.3

(22.0)

 Mathematics

495

(490)

Public and private spending (% of GDP)

 Science

513

(493)

 Health care (2015)

9.4

(9.0)

Share of women in parliament (%)

31.4

(28.7)

 Pensions (2014b)

5.1

(9.1)

Net official development assistance (% of GNI)

0.25

(0.39)

 Education (primary, secondary, post sec. non tertiary, 2013)

4.7

(3.7)

Better life index: www.oecdbetterlifeindex.org

← * Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

← a. 2015 data for the OECD.

← b. 2013 data for the OECD.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.