The New Zealand is highly globalized free market economy with high standard of living. It is 68th largest developed economy in the world by purchasing power parity and 53rd largest by nominal gross domestic product. The economy of New Zealand mainly depends on international trade with European Union, Australia, South Korea, China, Canada, Japan and with United State of America.
Manufacturing on large scale contributes around 63% of all GDP to national economy. Manufacturing sector include food processing, aluminum production, wood and paper products, metal fabrication, electricity, mining, gas, water and waste services. In New Zealand, information technology sector is rising swiftly. New Zealand currency, the New Zealand Dollar circulates in four pacific island areas. The New Zealand dollar is 10th record traded currency in the world.
The economy of New Zealand has ranked 1st for Social Progression in the world which shield the region of elementary human needs, opportunities available to its citizens and Foundations of Wellbeing. New Zealand is listed among countries of zero corruption. According to report of Transparency International in 2017, New Zealand was listed 1st on Corruption Perceptions Index.
According to the projections from trading economics and official data of World Bank, gross domestic product New Zealand was worth of 215 billion US dollar in 2019. Gross domestic product New Zealand contribute 0.18% to the global economy.
Gross domestic product New Zealand is released on quarterly basis, over two month after the reporting period at 22:45 GMT by Statistics New Zealand.