International TradeEven though it is a developed country, New Zealand’s economy is still very dependent on the farming community, although the the traditional meat, dairy and wool has been expanded to include fruit, wine, timber and others. Foreign trade is an essential ingredient of the New Zealand economic mix, which is one of the most open in the world. The country’s economy is very trade-oriented, with the exports of goods and services accounting for 33% of the total output.The tourism industry is considered to be the biggest contributor to the Kiwi economy, and the country has successfully attracted several major filming contracts, the best known of these is the Lord of the Rings franchise, directed by New Zealander, Peter Jackson. Estimates have placed the expansion of travelers to New Zealand as rising by 4% annually, until 2013.New Zealand’s economy has also been helped by strong economic relations with Australia. New Zealand’s economy has traditionally been based on a base of exports from its very efficient agricultural system. The country also has substantial current economic trends.Real Estate MarketWith rising population growth and a low housing supply, the housing market is ready to boom in New Zealand. This long-term outlook, however, is dependent on the ability of the Kiwi economy to recover and achieve positive GDP growth.New Zealand Monetary SystemThe New Zealand Dollar, shortened to NZD or NZ$, and also informally known as the Kiwi dollar, is the official currency of New Zealand. The same currency is also used in the Pitcairn Islands, Tokelau, Niue, and the Cook Islands. The New Zealand Dollar was introduced in 1967 to replace the New Zealand pound, when the country decimalised its currency. The currency is relatively weak when compared to major currencies such as British Sterling, the Euro, the Yen, or the US dollar. This makes the country a particularly affordable choice for a lot of travelers. The Kiwi dollar often closely tracks the Australian dollar due to their close geographical location. Both usually have higher central bank interest rates when compared against other OECD nations, which results in the currency being a popular in carry-trades. The value of the New Zealand dollar has been floating, i.e., determined by the financial markets, since March 4, 1985. Since then its value has been fluctuating between 0.40c – 0.72c United States dollars to the New Zealand dollar.Gross Domestic ProductNew Zealand GDP Per Capita stands at around 14995 US dollars, according to the World Bank. The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. The Kiwi GDP grew by 0.2% in the June quarter 2010, significantly below predictions due to the global economic slowdown.The FutureBeing a small island country so close to a huge economic powerhouse, New Zealand will always be dependent to a degree on the current state of the Ozzy economy, especially considering the large amount of trade that is conducted between the two countries. Two other factors that could have a major impact on the New Zealand economy is the weather and disease as the economy is still largely based on it’s agriculture industry.This is however systematically changing as the country diversifies into other fields like the IT and Film Industries. This is great news for immigrants from these industries as it is opening up a lot more job opportunities in a wider range of occupations.