sulate(s) general: Apia (Western Samoa), Los Angeles

US diplomatic representation:
chief of mission: Ambassador Josiah Horton BEEMAN
embassy: 29 Fitzherbert Terrace, Thorndon, Wellington
mailing address: P. O. Box 1190, Wellington; PSC 467, Box 1, FPO AP
96531-1001
telephone: [64] (4) 472-2068
FAX: [64] (4) 472-3537
consulate(s) general: Auckland

Flag: blue with the flag of the UK in the upper hoist-side quadrant
with four red five-pointed stars edged in white centered in the outer
half of the flag; the stars represent the Southern Cross constellation

@New Zealand:Economy

Overview: Since 1984 the government has been reorienting an agrarian
economy dependent on a guaranteed British market to a more
industrialized, open free market economy that can compete on the
global scene. The government has hoped that dynamic growth would boost
real incomes, broaden and deepen the technological capabilities of the
industrial sector, reduce inflationary pressures, and permit the
expansion of welfare benefits. The initial results were mixed:
inflation is down from double-digit levels, but growth was sluggish in
1988-91. In 1992-93, growth picked up to 3% annually, a sign that the
new economic approach was beginning to pay off. Business confidence
strengthened in 1994, and export demand picked up in the Asia-Pacific
region, resulting in 6.2% growth. Inflation remains among the lowest
in the industrial world.

National product: GDP - purchasing power parity - $56.4 billion (1994
est.)

National product real growth rate: 6.2% (1994)

National product per capita: $16,640 (1994 est.)

Inflation rate (consumer prices): 1.6% (FY93/94)

Unemployment rate: 7.5% (December 1994)

Budget:
revenues: $18.94 billion
expenditures: $18.82 billion, including capital expenditures of $NA
(FY94/95)
note: surplus $120 million (FY94/95)

Exports: $11.2 billion (1994)
commodities: wool, lamb, mutton, beef, fish, cheese, chemicals,
forestry products, fruits and vegetables, manufactures
partners: Australia 20%, Japan 15%, US 12%, UK 6%

Imports: $10.4 billion (1994)
commodities: machinery and equipment, vehicles and aircraft,
petroleum, consumer goods
partners: Australia 21%, US 18%, Japan 16%, UK 6%

External debt: $38.5 billion (September 1994)

Industrial production: growth rate 1.9% (1990); accounts for about 20%
of GDP

Electricity:
capacity: 7,520,000 kW
production: 30.5 bill