New Zealand in the OECD

Small economy

The value of exports per capita for OECD countries varies widely, from nearly US$30,000 per person for Belgium to less than US$1,000 for Turkey. The value of New Zealand’s exports is about the same as for the OECD overall – a little over US$5,000 per person.

New Zealand has a small economy which is heavily reliant on international trade. The three main destinations in 2004 were Australia, the United States and Japan.

In 2004, New Zealand had the fourth-lowest value of exports in the OECD, higher only than Greece, Luxembourg and Iceland. Over two-thirds of New Zealand’s exports are destined for OECD countries.

Main exports

For most OECD countries, the main export group is machinery and transport equipment, followed by chemical products, food and drink, crude materials, and mineral fuels. In contrast, New Zealand’s main exports are food and drink, followed by machinery and equipment, forestry articles, aluminium and
aluminium articles, wool, and crude materials.

New Zealand has developed its agriculture and manufacturing industries to suit the needs of niche markets. The farming industry provides a large proportion of food and drink exports in the form of dairy and meat products.