New Zealand Tenders

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Capital Wellington
ISO 3166 Code NZ
Population 4,554,230
Area, Sq KM 269,190
Currency New Zealand Dollar
Official Language Maori, English
GDP, Billion USD 1,85,788
GDP Growth Rate, % 3.6
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 5.22
Exchange Rate, 1 USD Equals 1.45
International dial code 64
Time Zone GMT+12:00
Internet TLD .nz

New Zealand is an island country which is located in the southwestern Pacific Ocean. The country geographically is comprisedof mainly two landmasses –the North Island and the South Island. New Zealand is located around 1,500 kilometers east of Australia across the Tasman Sea and roughly 1,000 kilometers south of the Pacific island areas of Fiji, New Caledonia and Tonga. Because of its remote location, it was one of the last lands to be inhabited by people. The capital city of New Zealand is Wellington and Auckland is known to be its most populous city. When Polynesians settled in New Zealand during 1250–1300 CE, they developed a distinctive Maori culture. A Dutch explorer by the name of Abel Tasman was the first European to sight New Zealand in the year 1642. Most of the population of this country is of European descent. The total population is 4.5 million. The official languages of the country are English and Maori. Traditionally, the economy of the country was dominated by the export of wool but now exports of meat, dairy products and wine along with tourism are more significant. Legislative authority of this country is vested in an elected as well as unicameral Parliament while the cabinet exercises the executive political powers. The cabinet is led by the Prime Minister. New Zealand is organized into 67 territorial authorities and 11 regional councils for local government purposes. New Zealand is a member of the Commonwealth of Nations, the United Nations, ANZUS and pacific Islands Forum along with Organization for Economic Co-operation and Development and Asia-Pacific Economic Cooperation. The economy of New Zealand has a prosperous, modern and developed market economy which has an estimated gross domestic product in terms of PPP, NZ$47,784. New Zealand dollar is the currency of New Zealand which is often called "Kiwi dollar" informally. New Zealand was ranked sixth in the Human Development Index as of 2013 and fourth in the Heritage Foundation's 2012 Index of Economic Freedom. Extractive industries of this country have been contributing strongly to the economy. High demand for agricultural products from the countries like United States and United Kingdom help the people of this country achieve higher living standards than both Western Europe and Australia. By 1982, according to the survey done by the World Bank, New Zealand had the lowest per-capita income among all the developed nations. Since the year 1984, successive governments engage in major macroeconomic which rapidly transformed New Zealand from a highly protectionist economy to a liberalized free-trade economy.

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