New Zealand Is An Export Driven Competitive Economy Essay

Problem statement New Zealand is an export-driven competitive economy with exports accounting for about 30% of GDP, one of the primary indicators used to gauge the health of a country s economy. Auckland Airport handles 85% of air cargo exported from New Zealand, making it a hub for businesses which conduct trade. These businesses want to know whether New Zealand’s economy is continuing to benefit from these exports. I predict that this is true due to the high OEC ranking of New Zealand, which indicated economic complexity. The question that must then be posed is: What is the long term trend in exports from Auckland Airport? This question is of interest to businesses and consumers alike because international trade affects the price of domestic goods due to changes in supply and demand. An investigation will be carried out into the export of goods coming from Auckland Airport to investigate and analyse trends and to make a forecast. Further investigation into both imports and exports were also conducted to gauge the economic situation of New Zealand. The data provided is sourced from Statistics New Zealand Infoshare, recorded from 1988 to 2015 and records quarterly gross weight of exports in tonnes. Plan Using the data provided, I will use NZ Grapher to plot a time series and a decomposition on Auckland Airport Exports from 1988 to 2015. The data will be interpreted taking into account the raw data, trend, residuals, and seasonal effect. A forecast will be made using theShow MoreRelatedGross Domestic Product Of Australia1673 Words   |  7 Pages AUSTRALIAN ECONOMY GROSS DOMESTIC PRODUCT As per Australian Bureau of Statistics, Gross domestic product of Australia is 1560.60 USD, with annual growth rate of 2.50 percent. Services sector dominates the total GDP of the economy (65 percent of total GDP). 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