New Zealand
Chamber of Commerce Country Factsheet Last update: 12.07.2018
Your advisors at the Chamber of Commerce
Diana Rutledge+3227375714
Anne-Catherine Fohl+352423939372
Edith Stein+352423939482
Introduction
The Polynesian Maori reached New Zealand sometime between A.D. 1250 and 1300. In 1840, their chieftains entered into a compact with Britain, the Treaty of Waitangi, in which they ceded sovereignty to Queen Victoria while retaining territorial rights. That same year, the British began the first organized colonial settlement. A series of land wars between 1843 and 1872 ended with the defeat of the native peoples. The British colony of New Zealand became an independent dominion in 1907 and supported the UK militarily in both world wars. New Zealand's full participation in a number of defense alliances lapsed by the 1980s. In recent years, the government has sought to address longstanding Maori grievances.
Source: The CIA World Factbook - New Zealand
Macroeconomic indicators
Solid economic growth is projected to continue at 3% in 2018 and 2019. Private consumption will slow with lower net immigration and moderation of wealth gains from house price increases. Residential investment will be supported by demand in Auckland and government funding through the KiwiBuild programme. Government infrastructure spending will also rise, while business investment should recover from weakness in late 2017 as capacity remains tight.
Projected increases in interest rates and government spending will improve the macroeconomic policy balance. Both should also serve to reduce housing market pressures, but resolution of infrastructure and planning constraints in Auckland is critical to easing affordability challenges, boosting weak productivity and avoiding a further house price breakout.
Source: OECD - Economic Forecast
IMF Statistics:
| Subject descriptor | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|
| Gross domestic product, constant prices Percent change | 3.022 | 2.999 | 2.766 | 2.707 | 2.593 |
| Gross domestic product, current prices U.S. dollars (Billions) | 197.988 | 172.257 | 179.359 | 192.816 | 202.379 |
| Gross domestic product per capita, current prices U.S. dollars (Units) | 43,469.964 | 37,066.064 | 38,065.927 | 40,596.363 | 42,270.501 |
| Inflation, average consumer prices Percent change | 1.228 | 0.293 | 0.677 | 1.563 | 1.964 |
| Volume of imports of goods and services Percent change | 7.922 | 3.647 | 2.196 | 2.328 | 2.902 |
| Volume of exports of goods and services Percent change | 3.022 | 6.562 | 1.140 | 2.578 | 2.684 |
| Unemployment rate Percent of total labor force | 5.375 | 5.350 | 5.298 | 5.536 | 5.283 |
| Current account balance U.S. dollars (Billions) | -6.201 | -5.594 | -5.385 | -6.824 | -7.778 |
| Current account balance Percent of GDP | -3.132 | -3.248 | -3.003 | -3.539 | -3.843 |
Source: IMF Statistics - New Zealand
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
None
Air Services agreement
- Agreement from 11.02.1992 (Memorial 1995, A, p. 1592)
- Effective as of 20.12.1995 (Memorial 1996, A, p. 88)
Source: Administration des contributions directes
Further information
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact Points in New Zealand
Luxembourg is represented by Ambassade Royale des Pays-Bas à Wellington
Honorary Consul
Honorary Consul with jurisdiction in New Zealand: Mr Martin BAILEY
2 Crummer Road
P.O. Box 47-129
Ponsonby 3147
Auckland
Nouvelle-Zélande
Tel: (+64) 9 378 8388
E-Mail: martinbailey(at)mcgregorbailey.co.nz
Source: Ministry of Foreign Affairs of Luxembourg
Economic and Commercial Attaché in charge of Australia
Economic and Commercial Attaché (FIT): Mr. Luca BOTTALLO
Flanders Investment & Trade Australia Pty Ltd
103/838 Collins Street
Docklands VIC 3008
Australia
Tel: +61 3 96 14 09 80
E-mail: luca.bottallo@fitagency.com / melbourne(at)fitagency.com
Source: FIT
Country risk as defined by Office du Ducroire for New Zealand
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Ducroire Office - Country Risk for New Zealand
Other Useful Links:
- CIA World factbook on New Zealand
- Doing Business in New Zealand
- Das ist Neuseeland
- Flanders Investment & Trade (FIT)
- New Zealand Chambers
The Chamber of Commerce and the country
Past events