New Zealand - Overview of economy Throughout the 20th century,
New Zealand has been considered to be a nation of primary
production, with exports being predominated by meat, wool, dairy
products, timber, and fish. However, by 1999 agricultural
exports had declined to about half of all exports, and less than
10 percent of the workforce were employed in agriculture.
Nevertheless, agriculture remains an important Traditional
sectors of agriculture still have great potential. With the
devaluation of New Zealand's currency in recent years, producers
of dairy products, meats, and wool have found their products
very competitive on the world market and have increased their
incomes substantially. Further, it is expected that as
international trade tariffs decline, New Zealand will gain
access to markets in which its products will be even more
competitive. Manufacturing has increased dramatically since
World War II. With a comparative advantage in food processing,
this sector led the post-war manufacturing boom. With t