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The merchant is not a source of wealth, however. The Physiocrats believed that “neither industry nor commerce generates wealth.” [2] A “plausible explanation is that the Physiocrats developed their theory in light of the actual situation of the French economy…” [2] France was an absolute monarchy with the land owners constituting 6-8% of the population and owning 50% of the land.
New Zealand's diverse economy is made up of various types of informal and formal organisations, divided between the public and private sectors. It has a sizeable service sector, accounting for 73% of all GDP activity as of 2024. [27] As a large island nation New Zealand has abundant natural resources and mineral wealth. [28]
New Zealand claims the ninth largest exclusive economic zone in the world, covering 4,083,744 km 2 (1,576,742 sq mi), more than 15 times its land area. [7] The South Island is the largest land mass of New Zealand, and is the 12th-largest island in the world. The island is divided along its length by the Southern Alps.
New Zealand's exclusive economic zone (EEZ) covers at least 4,083,744 square kilometres (1,576,742 sq mi), [1] [2] which is approximately 15 times the land area of the country. Sources vary significantly on the size of New Zealand's EEZ; for example, a recent government publication gave the area as roughly 4,300,000 km 2 . [ 3 ]
Waterfront along Auckland CBD, a major hub of economic activity. New Zealand has an advanced market economy, [236] ranked 16th in the 2022 Human Development Index, [237] and fourth in the 2022 Index of Economic Freedom. [238] It is a high-income economy with a nominal gross domestic product (GDP) per capita of US$36,254. [239]
Map of New Zealand. The economic history of New Zealand dates to before European colonisation of the country. By the 20th century, it had become one of the most globalized economies in the world, relying heavily on international trade with developed countries including Australia, Canada, China, European Union, the United States, Japan, and South Korea.
The location of New Zealand on a globe. The following outline is provided as an overview of and topical guide to New Zealand: . New Zealand is an island country located in the western South Pacific Ocean comprising two large islands, the North Island and the South Island, and numerous smaller islands, most notably Stewart Island / Rakiura and the Chatham Islands. [1]
Blanket Bay was the site of one of Otago's most notable shipwrecks. On 4 July 1863, the two harbour steamers Pride of the Yarra and Favourite collided at the mouth of Blanket Bay, resulting in the loss of 12 lives, including the Rev. Thomas Hewett Campbell, newly appointed rector of Otago Boys' High School, and his family.