New Zealand enjoys a rather stable domestic economy with a positive outlook
for the country underpinned by government plans to reduce its foreign
currency debts. The preponderance of the country's export earnings comes
from agriculture, in particular meat, wool and dairy products.
Forestry is one industry
that is expanding, supporting an important pulp and paper production.
Although the region has few resources, apart from coal, lignite, natural
gas, and gold, its hydroelectric power prospect has been exploited to
produce plentiful cheap electricity - an important basis of New Zealand's
manufacturing industry. The Kapuni field on the North Island and the Maui
Field off the Taranaki Coast supplies natural gas that is converted to
liquid fuel for utilisation in the domestic and foreign markets.
Although the country
is small and remote from the world's major industrial powers, New Zealand
has a fairly high standard of living.