A lift in New Zealand's productivity relative to other countries.
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Ranked 22nd in the OECD on labour productivity based on GDP per hour worked of US$28.3 (figures for 2006 from OECD December 2007 productivity database).
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Maintenance and, if possible, growth in the value of New Zealand exports and outward investment as a percentage of GDP, along with New Zealand's share of world trade.
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Merchandise exports (December 2008): NZ$43.8 billion for 2008
calendar year.
Service exports (December 2008): NZ$12.5 billion for 2008
calendar year.
Exports of goods and services 31.2% GDP (current prices, 2008
calendar year).
Share of world trade (2007): 0.36%.
Total investment abroad at end December 2008: $125.5 billion. |
Improvement in New Zealand's position on OECD's product market regulation and competition index and in the overall development of New Zealand's financial markets.
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Ranked 12th on the OECD product market regulation index in 2008.
Ranked 23rd in the OECD in terms of relative financial market size in 2003–2005.
Ranked first in the OECD both in terms of having regulation that is more conducive to financial development and less competition-restraining in the banking sector. |
Maintenance and, if possible, improvement in our overall position in the World Bank ease of doing business survey.
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Ranked 2nd for ease of doing business (2009 survey).
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Increase in perceived quality of New Zealand's infrastructure as assessed in WEF global competitiveness reports.
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Ranked 50th out of 134 countries with a mean score of 4.3 where
1 = undeveloped and 7 = extensive and efficient by international standards (2008–2009 report).
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Auckland improves its ranking relative to comparable international cities on quality of living, average income, labour productivity, and employment in medium- and high-tech manufacturing and knowledge-intensive services.
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Ranked 5th equal on quality of living out of 215 cities (Mercer
2008 index).
GDP per capita is less than in Brisbane, Vancouver, and Melbourne,
but more than in Adelaide (Demographia, GDP estimates: Metropolitan regions, April 2007).
Average annual income in 2007: $35,724.
Labour productivity = US$58,800 output per worker per year, putting
it 54th out of 78 metro regions (OECD Territorial Reviews: Competitive Cities in the Global Economy, 2006).
Employment in high/medium-tech manufacturing = 3.15%, which
is relatively low by international standards (Economic Development Indicators 2007).
Employment in knowledge-intensive services = 3.68%, slightly below the median of comparator cities (Economic Development Indicators 2007). |
Impact measures
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Current status
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Increasing investment in productive capability of businesses, as evidenced by increasing levels of R&D expenditure and capital investment.
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Business expenditure on research and development (2008): 0.49%
of GDP.
Average capital investment in fixed assets (2001–2008): 20% of GDP. |
Improved access to finance for growth, as evidenced by Business Operations Survey data.
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Of those firms that sought finance in 2007, 93% of those that sought debt finance obtained it on acceptable terms and 81% of those that sought equity finance were able to obtain it on acceptable terms.
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New Zealand firms' strategic and management capabilities are improved,
as evidenced by Business Operations Survey data.
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53% of businesses provided management/supervisory training in 2005/06, and 21% planned more than two years ahead in 2005.
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New Zealand's competitive strengths (particularly food, pastoral,
tourism, and niche manufacturing) make an increasing contribution
to the New Zealand economy.
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The current composition of exports is given in Table 5 – Exports of Main Commodities in Statistics New Zealand Overseas Merchandise Trade (January 2009) [external link]. |
Firms accessing relevant business support achieve higher levels of
business growth, productivity, and value added than would otherwise
have been the case.
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This will be assessed by individual policy evaluations using the Longitudinal Business Database and mathematical techniques.
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Trade and investment flows increase within the Trans-Tasman Single Economic Market and with other countries with which we have
negotiated trade agreements.
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Merchandise exports to Australia in the calendar year 2008 were
$9.2 billion (22.3% of exports). Imports from Australia were
$8.7 billion (18% of imports).
New Zealand FDI in Australia was NZ$34 billion and Australia FDI
in New Zealand NZ$87 billion in March 2008.
Merchandise exports to and imports from other countries with which
we have substantial amounts of trade and have negotiated trade agreements or other economic partnership agreements (in calendar year 2008): China – exports $2.5 billion (6.1% of exports) and imports $6.4 billion (13.3% of imports); Singapore – exports $802 million (2% of exports) and imports $2.25 billion (4.6% of imports);
Thailand – exports $802 million (2% of exports) and imports $1.3 billion (2.7% of imports). |
New Zealand improves its ranking against selected criteria from international tourism competitiveness measures such as the World Economic Forum's Travel and Tourism competitiveness report.
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Ranked 20th out of 130 countries with a score of 4.94 overall out of 6 in the 2009 report. This is the overall score from which individual criteria will be identified.
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A 2011 RWC post-project review indicates that the Rugby World Cup will have a lasting economic benefit to New Zealand.
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Data on this measure will only be available when this review is carried out.
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Surveys of financial sector customers show an improvement in confidence in financial markets.
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Surveys are yet to be carried out but plans are being put in place to do so.
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Surveys of consumers and traders show an increasing knowledge of and compliance with consumer law.
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Baseline surveys of consumers in 2005 and traders in 2006 indicated good general recognition of consumer law but low levels of specific understanding regarding refunds and warranties. The 2005 survey [external link] |
Increased investment in industries covered by the implementation of the new regime for the regulation of natural monopolies.
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This is to be measured by the Commerce Commission. Baseline has yet to be established.
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New Zealand's ranking increases on the Milken Institute's Capital Access Index.
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Ranked 18th in the 2008 index out of 122 countries, down from 16th in the 2006 index.
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Impact measures
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Current status
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We at least maintain, and if possible improve, our position in relation to
the opening and closing a business indicators in the World Bank survey.
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Ranked first for starting a business and 17th for closing a business (2009 survey).
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The Ministry's service delivery units maintain or improve their position in the annual Business New Zealand/KPMG compliance cost survey.
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The Companies Office was ranked as the most helpful and IPONZ the
10th most helpful government agency out of 17 specific agencies included in the 2008 survey.
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An ultra-fast broadband network is available to a substantial proportion
of priority users – businesses, schools, health services – by 2015 and to 75% of the population by 2019, at internationally competitive prices.
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Broadband technology offering modest speeds (generally experiencing less than 5Mbps) is available to about 90% of households. However, there is currently only a low level of availability of fibre to premises offering ultra-fast broadband (a minimum of 100Mbps), mostly in CBDs and generally to very large business users.
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Electricity system interruption indices continue to reduce at the current rate, and New Zealand's position in the OECD league table for electricity prices remains the same or improves.
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The electricity system average interruption duration index measures the total amount of time the average customer is without electricity over the course of a year. Since 1995 when this index was around 220 minutes,
it has fallen steadily to about 150 minutes in 2006 but rose again to about 250 minutes in the year to March 2007 as a result of a large outage in Auckland.
Information on international electricity prices is of variable quality. Broadly speaking, in 2008, industrial electricity prices were well below the OECD average and residential electricity prices were similar to the OECD average. |
New Zealand generates more value per unit of energy consumed, measured on a sector-by-sector basis.
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In 2007, New Zealand used an estimated 3.8GJ of energy per thousand dollars of GDP. This figure represents the overall energy intensity of the economy and can be affected by changes in energy efficiency and the sectoral make-up of the economy.
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There is an increase in New Zealand petroleum and mineral exploration, appraisal, production, and associated government revenues.
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Expenditure on exploration and prospecting in 2007: $38.2m for minerals and coal and $1.56b for petroleum.
Petroleum wells drilled in 2007: 43.
Oil condensate and naptha production 2007: 14.87 million barrels.
Petroleum royalties collected 2007: $122.6m. |
The quality of Auckland's infrastructure improves relative to other major international cities.
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Ranked 21 out of 40, with a score of 3.72 out of 5 – 5 being the best possible and 3 being the neutral position, neither positive nor negative (The Anholt City Brands Index, Results for Auckland, 2007).
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Key business stakeholders think that Auckland's governance has improved and that this improvement is leading to more timely and effective decision-making.
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This will be a qualitative and relative measure so baseline data is not relevant.
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