Economic history of New Zealand The economic history of New Zealand dates to before European colonisation of the country. By the 20th century, it had become one of the most globalized economies in the world, relying heavily on international trade with developed countries including Australia, Canada, China, European Union, the United States, Japan, and South Korea. It is a mixed economy that functions on free-market principles and has a sizable manufacturing and service sector and an efficient agricultural sector. New Zealand has the 54th largest export economy in the world measured by nominal gross domestic product. In 2016, New Zealand
the main cities, particularly Auckland where recent immigration groups have settled. A relatively small proportion of New Zealand's land is arable (1.76%), and permanent crops cover 0.27% of the land. of the land is irrigated. As the world's largest exporter of sheep, New Zealand's agricultural industry focuses primarily on pastoral farming, particularly dairy and beef, as well as lambs. Dairy, specifically, is their top export. In addition to pastoral farming, fisherman harvest mussels, oysters and salmon, and horticulture farmers grow kiwifruit, as well as peaches, nectarines, etc. New Zealand's distance from world markets and spatial variation in rainfall, elevation and
Economy of New Zealand The economy of New Zealand is the 53rd-largest national economy in the world when measured by nominal gross domestic product (GDP) and the 68th-largest in the world when measured by purchasing power parity (PPP). New Zealand has one of the most globalised economies and depends greatly on international trade – mainly with Australia, the European Union, the United States, China, South Korea, Japan and Canada. New Zealand's Closer Economic Relations agreement with Australia means that the economy aligns closely with that of Australia. New Zealand's diverse market economy has a sizable service sector, accounting for 63%
Agriculture in New Zealand In New Zealand, agriculture is the largest sector of the tradable economy, contributing about two-thirds of exported goods in 2006–7. For the year ended March 2002, agricultural exports were valued at over $14.8 billion. New Zealand is unique in being the only developed country to be totally exposed to the international markets since subsidies, tax concessions and price supports for the agricultural sector were removed in the 1980s. However, as of 2017, the New Zealand Government still provides state investment in infrastructure which supports agriculture. Pastoral farming is the major land use but there are increases
largest proportion from any developed nation. In recent decades, however, a "brain gain" has brought in educated professionals from Europe and less developed countries. Today New Zealand's economy benefits from a high level of innovation. New Zealand is heavily dependent on international trade, particularly in agricultural products. Exports account for 24% of its output, making New Zealand vulnerable to international commodity prices and global economic slowdowns. Food products made up 55% of the value of all the country's exports in 2014; wood was the second largest earner (7%). Its major export partners are Australia, United States, Japan, China, and the
Most of new zealands land supports which economic activity?

Reference answer:
agriculture
Pastoral farming