What is New Zealand's biggest money maker?
The foundation of New Zealand's economy is the export of agricultural commodities such as dairy products, meat, forest products, fruit and vegetables, and wine. Dairy, New Zealand's largest export commodity group making up 28% of all exports totaled approximately US$13 billion.
| Statistics | |
|---|---|
| Exports | $72.8 billion (FY 2022/23) |
| Export goods | Dairy products, meat, logs and wood products, fruit, wine, machinery and equipment, fish and seafood |
| Main export partners | China 28.2% Australia 12.6% United States 11.3% European Union 6.4% Japan 5.7% (FY 2022/3) |
| Imports | $88.8 billion (FY 2022/23) |
This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in New Zealand from 2012 to 2022. In 2020, agriculture contributed around 5.65 percent to the GDP of New Zealand, 19.71 percent came from the industry and 66.67 percent from the service sector.
Stats NZ data shows that in the year ended June 2021, the top 1% of New Zealand households had at least $7.59 million of net wealth – that's assets minus any debt held against them. To be a 1% individual, you would need net wealth of $3.866m. Internationally, the top 1% is US$1.147 million (NZ$2.059m).
The tourism and hospitality sector is big business in New Zealand and currently the second-largest export earner, providing nearly 17.1% of total export revenues.
New Zealand has a population of 5 million and a GDP of just over $200 billion. The US has a population of over $330 million and a GDP of over $20 Trillion. The US is a super power.
Christchurch tends to have the cheapest metropolitan rental prices, followed by Wellington and lastly Auckland. The rental costs in New Zealand are lower than the United States, on average. As of June 2022, the average median rent for a one-bedroom apartment in a metropolitan area in the United States is $1,876.
Imports The top imports of New Zealand are Cars ($3.79B), Refined Petroleum ($1.75B), Crude Petroleum ($1.72B), Delivery Trucks ($1.45B), and Broadcasting Equipment ($1.15B), importing mostly from China ($10.2B), Australia ($6.7B), United States ($3.22B), Japan ($2.87B), and Thailand ($2.11B).
Today, New Zealand's economy is still heavily focused on the export of agricultural products, though the economy has diversified into other areas such as tourism and exploitation of natural resources, especially natural gas.
Is New Zealand richer than Australia? No, Australia is richer than New Zealand, though they have changed places in the past.
What are New Zealand's biggest economic activities?
Agricultural products—principally meat, dairy products, and fruits and vegetables—are New Zealand's major exports; crude oil and wood and paper products are also significant. The major imports are crude and refined oil, machinery, and vehicles.
| Rank | Name | Net worth ( NZD ) |
|---|---|---|
| 1 | Graeme Hart | $12 billion |
| 2 | Todd family | $4.3 billion |
| 3 | Goodman family | $3.5 billion |
| 4 | Nick Mowbray and family | $3 billion |
Almost half of the 40,000 new jobs in New Zealand each year will be in either Accommodation and Food services, Business services, Construction or Retail trade.
Graeme Richard Hart (born 1955) is a New Zealand billionaire businessman and the country's wealthiest person.
In 2023, the median annual salary/wage, from IRD data, was around $54,000, making a $100,000 salary only 1.9 times the median.” NZ Council of Trade Unions policy director Craig Renney said whether $100,000 was a lot would depend on the context.
| Taxable income band | Number of people |
|---|---|
| $90,001-$100,000 | 136,520 |
| $100,001-$110,000 | 99,020 |
| $110,001-$120,000 | 70,700 |
| $120,001-$130,000 | 54,680 |
What salary do you need to live comfortably in New Zealand? If you're living in Auckland, a salary of $80-100k is usually enough to live comfortably. In smaller cities, you might need a little less. Obviously this depends on many different factors, though.
Software developers, web designers, cybersecurity specialists, IT technicians, and data analysts are all expected to be some of the most in-demand jobs in the country. 2. Healthcare: With the aging population in New Zealand, healthcare jobs are expected to remain in high demand.
The adult minimum wage is now $23.15 per hour, effective 1 April 2024. The training and starting-out minimum wages have also increased to $18.52 from the previous rate of $18.16 per hour, which is 80% of the adult minimum wage.
For 2022, Auckland-based game design, development and publishing studio Legend Story Studios Trading takes the number one spot with a revenue growth of 6416 percent over the past three years.
What US state is most like New Zealand?
New Zealand has roughly the same surface area as the state of Colorado. Also, New Zealand has an estimated population of just over 4.5 million people which is comparable to the state population of Louisiana. Imagine taking Louisiana's population and swapping them with Colorado's population (not a huge difference).
An estimate of Americans living in New Zealand has more than doubled since 2022, from 1,479 to 4,264.
| Conversion rates US Dollar / New Zealand Dollar | |
|---|---|
| 100 USD | 163.89400 NZD |
| 250 USD | 409.73500 NZD |
| 500 USD | 819.47000 NZD |
| 1000 USD | 1638.94000 NZD |
The monthly cost of living in New Zealand
The cost of living in New Zealand, for one person in a major city, is between NZ$4,000-NZ$5,000 per month. A family of four can expect to need NZ$6,000-NZ$7,000 per month to live.
