New Zealand is ranked 3rd among 42 countries in the Asia–Pacific region, and its overall score is well above the regional and world averages. In ppp ranking, margin between Macao SAR (2nd) and Luxembourg (3rd) would be decline to Int. The well-developed financial sector offers a wide range of financing instruments. DataBank. The former British colony of New Zealand is one of the Asia–Pacific region’s most prosperous countries. The trade war between the U.S. and China is of concern to New Zealand, especially given its heavy reliance on China for export revenue. Basic Income: A Way Out of Poverty in a Time of Pandemic or Utopia, Justice Ginsburg's Fight for Gender Quality Yet Unfulfilled, Current account balance as a share of GDP, High-technology exports as a share of exports, Tourism expenditures as a share of imports, Expenditures for passenger transport items, Agricultural land as a share of land area, Pupil-teacher ratio in secondary education, Internal renewable water resources per capita. The bungee jump, Hamilton Jet boat, referee’s whistle and frozen meat are also credited to New Zealanders. The judicial system is independent and functions well. US Election 2020 Forecast: Anyone's Guess? Unfortunately, progress in this area is not likely in the short term because the center-left government has announced a “well-being” budget to fund many new welfare programs. It is a leader in peacekeeping and global security and party to key international organizations, including the United Nations, the Organization for Economic Cooperation and Development, the Asia-Pacific Economic Cooperation and Pacific Islands Forum. The economy of New Zealand has ranked as one of the freest in the world over the past 25 years. Early Maori settlers ceded sovereignty to British invaders with the Treaty of Waitangi in 1840, and European settlers flooded in. Tax Burden 71.0 Create a Graph using this measurement, Government Spending 57.8 Create a Graph using this measurement, Fiscal Health 98.3 Create a Graph using this measurement. Though the British monarch remains head of state, New Zealand has operated under an independent parliamentary democracy led by a prime minister since its independence in 1907. World and regional statistics, national data, maps and rankings, Latest releases of new datasets and data updates from different sources around the world. New Zealand’s economy has been expanding since 2010. Agriculture is important, as are manufacturing, tourism, and a strong geothermal energy resource base. The overall tax burden equals 32.0 percent of total domestic income. See how New Zealand compares to another country using any of the measures in the Index. Property Rights 93.3 Create a Graph using this measurement, Judicial Effectiveness 79.1 Create a Graph using this measurement, Government Integrity 93.9 Create a Graph using this measurement. All Rights Reserved. Rankings #11. Okay to continue In April 2019, the Labor Party–led government raised the minimum wage to NZD 17.70 (USD 12.04); the party campaigned on raising it to NZD 20 (USD 13.60) by April 2021.

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