Resource-Rich Country #2: Land of the Long White Cloud Though not as rich in natural resources as its Australian neighbor, New Zealand does have a strong export industry. Products such as dairy goods, agricultural crops, timber, and some mined metals contribute roughly 4.5% to the country’s GDP, with agricultural commodities making up about 24% of that figure. New Zealand expects 4% annual growth in its hospitality and services industry, which contributed 68.8% to the country’s GDP and attracted new “settlers” from surrounding island nations and Europe. To date, New Zealand has NZ$23,449 million (US$18,010 million) in Forex reserve assets. This large amount of reserves of foreign currency allows New Zealand's government to manipulate exchange rates - usually to stabilize the foreign exchange rates to provide a more favorable economic environment. In order to access Resource-Rich Country #6, you will need to sign up for the broadcast! New Zealand's Key Economic Investment OutlookTwo things will help keep the country’s currency relatively strong: a decrease in energy prices and the drop in exchange rates. And with the U.S. dollar still showing its weak side, the Kiwi dollar is experiencing a rebound. Sign up for the Hot Commodities Guide to learn more about New Zealand's economic outlook.    . |
