Economy of New Zealand

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New Zealand has a highly developed free-market economy. As of 2025, New Zealand's nominal GDP was US$248 billion. In the 2025 IMF rankings New Zealand was the 52nd-largest national economy in the world when measured by nominal gross domestic product (GDP) and the 63rd-largest in the world when measured by purchasing power parity (PPP). New Zealand has one of the most globalised economies and depends greatly on international trade, mainly with China, Australia, the European Union, the United Kingdom, the United States, Japan and Korea. New Zealand's 1983 Closer Economic Relations agreement with Australia means that the economy aligns closely with that of Australia. Among OECD nations, New Zealand has a highly efficient and strong social security system; social expenditure stood at roughly 19.4% of GDP. New Zealand's diverse economy is made up of various types of informal and formal organisations, divided between the public and private sectors. It has a sizeable service sector, accounting...

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