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| 2007 |
New Zealand | Australia |
|---|---|---|
| GDP (US$bn) | 124.4 |
881.2 |
| GDP per capita (US$) |
29,698 |
37,275 |
| Real GDP growth | 2.8% |
3.9% |
| Consumer price inflation (av) | 2.4% |
2.4% |
| Unemployment rate (actual) | 3.5% |
4.3% |
| Export of goods fob (US$bn) | 27.1* |
139.4 |
Sources: The Economist Intelligence Unit; Australian Bureau of Statistics; Statistics New Zealand. (*) Actual, year to June 2007. All other figures EIU estimates.
Australia continues to be New Zealand’s principal export market, worth NZ$7.2 billion in the year to June 2007, accounting for 20.62% of New Zealand’s total exports. During this period, exports to Australia rose by 6%. Australia remained New Zealand’s largest source of merchandise imports in the year ended June 2007, with imports valued at NZ$8.5 billion, accounting for 20.8% of total imports. Imports from Australia increased 12.8% compared to the year ended June 2006.
In 2006-2007, Australia imported just over A$2.3 billion worth of services from New Zealand, 5.3% of Australia’s total services imports. Australia’s service exports to New Zealand were worth just over A$3.2 billion, 7.1% of Australia’s total services exports. Personal travel and transportation were the principal sectors in both directions.
| Major NZ exports to Australia (FOB)* | Major NZ imports from Australia (CIF) | ||
|---|---|---|---|
June year 2007 (NZ$000) |
|||
| Petroleum oils, crude | 393, 209 | Petroleum oils, not crude | 868, 899 |
| Gold | 251, 981 | Petroleum oils, crude | 478, 937 |
| Cheese | 212, 172 | Motor vehicles | 465, 852 |
| Wine | 179, 849 | Aluminium oxide | 345, 402 |
| Timber | 156, 290 | Medicaments |
291, 405 |
| Refrigerators, freezers etc | 122, 718 | Copper, bars, rods etc | 161, 427 |
Insulated wire, cables etc |
109, 875 | Wine | 122, 278 |
| Yachts & other vessels |
106, 911 | Wheat | 114, 674 |
| Chemical wood pulp | 103, 275 | Bread, pastry, cakes | 110, 096 |
| Plastic articles | 94, 759 | Cane or beet sugar | 106, 274 |
Source: Statistics New Zealand *Including re-exports
New Zealand is Australia’s sixth largest export market, and makes up 5.6% of its total export trade. In addition, New Zealand is Australia’s fifth largest trading partner overall, making up 4.3% of Australia’s total merchandise trade. New Zealand is Australia’s largest market for Elaborately Transformed Manufactures, and is important for many Australian small and medium enterprises (SMEs). A recent Austrade report places New Zealand at the top of the list of countries to which Australian businesses export. 17,343 Australian businesses exported to New Zealand in 2005-06. The second largest destination was the United States, with 9,253 businesses exporting goods to that country.
| NZ’s principal export destinations | Australia’s principal export destinations |
||
|---|---|---|---|
| June year 2007 (%) | |||
| Australia | 20.62 |
Japan | 19.3 |
| United States |
12.94 |
China | 13.5 |
| Japan | 10.1 |
Republic of Korea | 7.7 |
| China | 5.37 |
India | 6 |
| United Kingdom | 4.81 |
United States | 5.8 |
At the end of 2006, the total stock of New Zealand’s foreign investment in Australia amounted to A$32.4 billion. Australia is the top destination for New Zealand investment, closely followed by the United States.
Australia is also the number one source of foreign investment in New Zealand, with total stock of A$65.2 billion invested at the end of 2006.
Source: Australian Department of Foreign Affairs and Trade
The 2006 census indicated 389,465 New Zealand-born people living as permanent residents in Australia. The 2006 census recorded 62,742 Australian-born permanent residents in New Zealand. As at 31 December 2006, the number of New Zealand citizens present in Australia – both visitors and residents – was 469,231.
Australia is our largest source of foreign tourists, with 950,200 short-term visitor arrivals in the year to December 2007, an increase of 5% over the previous year. Australia is also New Zealand’s most popular tourist destination, with 990,000 short-term departures from New Zealand in the year to December 2007 (also a 5% increase on 2006).
Source: Statistics New Zealand, Australian Bureau of Statistics, Australian Department of Immigration and Citizenship
