A healthy financial situation characterizes the country with a stable growth rate of 2.5-3 percent in recent years and a commitment to reduce the net public debt to less than 20 percent of GDP in early 2020s. New Zealand is also recognized globally as being a safe place to invest and do business in and is ranked highly in the World Bank Doing Business in categories such as "Ease of Doing Business" and "Starting a business".
Australia and New Zealand together host a population of 27.5 million people, of whom 4.5 million live in New Zealand. As a comparison, the Nordic countries together host a population of about 26.5 million people. When measuring market shares it is the eighth most important export market for Swedish companies. If you add up the exports to Australia and New Zealand only United States and China are larger export markets if you take the step outside Europe. Swedish exports to New Zealand have consisted mainly of machinery, transport equipment, pig meat, and medical and pharmaceutical products.
The agricultural sector in New Zealand is of particular interest to Swedish companies, since it is a major industry, especially for dairy and meat products. New Zealand is a world leader in the manufacture of dairy products, where they account for one third of the international trade in dairy products. A considerable growth of the market is expected as the need for agricultural production is growing globally to cater to a population that is predicted to increase from seven to nine billion people by 2050.
Fishing and forestry are interesting markets as well and together with the agriculture sector they underpin the New Zealand economy. The forest industry has expanded rapidly and enterprises in the production of sawn wood products and pulp are the largest companies in the country.
The world market has a strong influence on the country's economy, as the country is heavily dependent on its exports. Thanks to its geographical location with proximity to Asia's growing economies and a number of free trade agreements with countries like Australia, China and Vietnam, the country has good potential to reach out to the global market and take advantage of this.
The market in New Zealand is handled by the Business Sweden office in Australia. The office has been in operation since 1974, consists of eight employees and is located in Sydney. Many years of work in the region has contributed to a strong and successful network of local business leaders and policy makers in order to promote Sweden's competitiveness.
Contact us to find out more about New Zealand as an export market and how we at Business Sweden can help you develop new or existing business in the country.