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Economic Development in New Zealand

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Economic Development in New Zealand
Economic development in New
Zealand
!

HDI

Life expectancy GDP per capita PPP

Literacy rate

Mean years of schooling

2010

0.907

80.40 years

$25,293

99%

12.4 years

2013

0.919

80.82 years

$25,689

99%

12.5 years

! The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development.
From the year 2010 to 2013, New Zealand's HDI has gone up by 0.012. This tells us that over the period of 3 years, the life expectancy, education and GDP per capita PPP of New
Zealand has increased, thus proving an increase in economic development.


0.92

0.913

0.905

0.898

0.89

2010

2011

ECONOMIC DEVELOPMENT IN NEW ZEALAND

2012

2013

"1

Life expectancy has also increased by 0.42 years. This shows that people living in New

Zealand in 2013 had a longer predicted lifespan as compared than those in 2010. For this to occur, people living in New Zealand must have had more access to healthcare or an increase in GDP per capita to purchase better healthcare and according to sites like www.cia.gov and www.tradingeconomics.com, there was an increase in GDP per capita.


!

The increase in GDP per capita proves that there is an increase in economic

development as economic development is directly proportional to GDP per capita. During the three years, there has been an increase in immigrants coming into New Zealand due to studies, job opportunities and retirement. The increase in immigrants caused any increase in consumer demand for goods and services which then proved the need to increase supply.
Companies then brought up wages and hired more workers so as to increase productivity so as to meet consumer demands. This caused an increase in wages and employment rate as reflected on sites like www.cia.gov, www.hrd.undp.org and www.stats.govt.nz thus reflecting an
increase

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