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
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