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| Capital city: |
Wellington |
| Surface area: |
271,000 sq km |
| Population: |
4.3 million |
| Official language(s): |
English |
| Head of State: |
H.M. Queen Elizabeth II, represented by Governor-General HE The Hon Sir Anand Satyanand |
| Head of Government: |
Prime Minister Hon John Key |
| Australian exports to New Zealand: |
A$9,396 million |
| Australian imports from New Zealand: |
A$7,609 million |
| New Zealand's principal export destinations: |
Australia, USA, Japan |
| New Zealand's principal import sources: |
Australia, China, USA | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Key economic indicators and statistics for 2008:
- GDP – US$128.5 billion
- GDP per capita – US$30,049
- Real GDP growth – 0.3 per cent
- Inflation – 4 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
The NZ economy is a mixed economy based on free market principles. It has a large agricultural sector, as well as sizeable manufacturing and service industries. |
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New Zealand is an independent state within the Commonwealth, with a parliamentary democracy political system. Unlike Australia, there is no upper house. There are two main parties, the Labour Party and the National Party and a number of smaller parties, the main one being the Alliance with voting on a proportional representation system. This system has meant that the last three governments have been coalitions, with the present government being a coalition of Labour and the Progressive Party.
New Zealand enjoys very close ties with Australia both politically and economically. It has a modern welfare system, and is politically and economically stable.
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Trade relations and statistics
New Zealand has free trade agreements with Australia, Canada and Singapore and is negotiating with Hong Kong, Chile and Thailand.
Preferential duties are offered to Pacific nations (under SPARTECA), to less developed countries such as Romania and Philippines and least developed countries (in the third world) such as Zambia and Rwanda.
Major Australian exports to New Zealand (2008):
- Medicaments (including veterinary) – A$409 million
- Crude petroelum – A$403 million
- Refined petroleum – A$396 million
- Passenger motor vehicles – A$342 million
Major Australian imports from New Zealand (2008):
- Crude petroleum – A$1,727 million
- Gold – A$429 million
- Alcoholic beverages – A$295 million
- Paper and paperboard – A$265 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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