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 30 million people, of whom 5 million live in New Zealand. As a comparison, the Nordic countries together host a population of about 27 million people. Swedish exports to New Zealand have consisted mainly of farming machinery, electrical machinery, transport equipment and medical and pharmaceutical products.
The agricultural sector in New Zealand is of particular interest to Swedish companies with its ideal climate for producing quality food and beverages and 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 and is a world leading exporter in dairy products, lamb, beef, wine and honey. A considerable growth of the market is expected as the need for agricultural production is growing globally to cater to a population that is projected to increase to more than 9 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 the productions plantations within the industry are among the world’s largest. New Zealand controls the world’s fourth largest coastal fishing zone and the climate makes New Zealand ideal for marine farming.
New Zealand is a transition to become a more advanced digital nation and was ranked as a stand out country in the Digital Evolution Index performed 2017. The Government is aiming to make New Zealand a leading digital nation and has invested in an Ultra-Fast Broadband programme and Rural Broadband initiative where the connecting goal is to reach a 99 percent coverage by 2035. This together with initiatives such as the Digital Health Strategy and ICT Strategy makes New Zealand a very interesting market for tech companies and an ideal test bed for new technologies.
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.