US—Ambassador Della M. NEWMAN; Embassy at 29 Fitzherbert Terrace,
Thorndon, Wellington (mailing address is P. O. Box 1190, Wellington, or
FPO San Francisco 96690-0001); telephone [64] (4) 722-068; there is a US
Consulate General in Auckland
_#_Flag: blue with the flag of the UK in the upper hoist-side quadrant with four red five-pointed stars edged in white centered in the outer half of the flag; the stars represent the Southern Cross constellation
_*Economy #_Overview: Since 1984 the government has been reorienting an agrarian economy dependent on a guaranteed British market to an open free market economy that can compete on the global scene. The government has hoped that dynamic growth would boost real incomes, reduce inflationary pressures, and permit the expansion of welfare benefits. The results have been mixed: inflation is down from double-digit levels but growth has been sluggish and unemployment, always a highly sensitive issue, has been at a record high 7.4%. In 1988 GDP fell by 1%, in 1989 grew by a moderate 2.4%, and was flat in 1990.
_#_GDP: $40.2 billion, per capita $12,200; real growth rate 0.7% (1990)
_#_Inflation rate (consumer prices): 6.5% (FY90)
_#_Unemployment rate: 7.4% (March 1990)
_#_Budget: revenues $17.6 billion; expenditures $18.3 billion, including capital expenditures of $NA (FY91 est.)
_#_Exports: $8.8 billion (f.o.b., FY90);
commodities—wool, lamb, mutton, beef, fruit, fish, cheese, manufactures, chemicals, forestry products;
partners—EC 18.3%, Japan 17.9%, Australia 17.5%, US 13.5%, China 3.6%, South Korea 3.1%