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The New Zealand economy

The Treasury provides the Government with strategic policy advice on the New Zealand economy and produces a range of publications and economic data as part of this.

New Zealand has an open economy that works on free market principles. It has sizeable manufacturing and service sectors complementing a highly-efficient agricultural sector. Exports of goods and services account for around one third of real expenditure GDP.

The Treasury's Role

The Treasury is the Government’s lead economic and financial adviser, providing strategic advice on the current and future New Zealand economy. Its role is to help the Government achieve higher living standards for New Zealanders.

The Treasury focuses its efforts in a number of key areas that support the Government’s goals and have a positive impact on the lives of New Zealanders. These outcomes – economic performance, macroeconomic stability and state sector performance – are closely linked and reflect the issues that the Treasury considers most important for economic growth – enhancing productivity growth, maintaining fiscal stability and lifting the performance of the state sector.

Economic performance

Stronger economic performance is ultimately about an economy that is growing consistently and sustainably to support higher living standards for all New Zealanders.

The Treasury has the unique ability to provide an overall perspective on economic growth by incorporating analysis of institutions, macroeconomics, microeconomics, and the economy as a system, complemented by the contribution of other government agencies.

Several of the Treasury’s major initiatives in this area are outlined under the ‘In this section’ heading below.

Such ongoing monitoring of the economy's performance helps the Treasury fill one of its primary roles - to advise the Government on significant economy-wide issues that matter most for New Zealand's economic performance.

To find out more about the Treasury's objectives and priorities concerning improved economic performance please refer to our latest:

Read more about the Treasury’s other key areas of focus:

Last updated: 
Tuesday, 14 April 2020