Increasing foreign direct investment (FDI) into New Zealand was one of the points of discussion recently when the New Zealand ambassador visited the California Chamber of Commerce.
The CalChamber was pleased to welcome Ambassador Rosemary Banks, New Zealand’s ambassador to the United States, and the new Consul General of New Zealand in Los Angeles, Katja Ackerly, on October 15.
New Zealand is consistently ranked as the one of the easiest countries in which to do business. Other topics of discussion during the recent visit were climate issues, artificial intelligence (AI), trade and economic relations, and the current geopolitical climate.
New Zealand is a strong advocate for free trade with their No. 1 export as agriculture. New Zealand has a gross domestic product (GDP) of $249 billion and GDP per capita of $48,072 as of 2023.
In 2023, The United States exported nearly $4.4 billion to New Zealand and in this same year, the U.S. imported nearly $5.4 billion worth of goods.
California exported approximately $544 million to New Zealand in 2023, with it being the second largest exporting state to New Zealand. California imported $1.3 billion from New Zealand in 2023.
U.S. FDI in New Zealand totaled $8.5 billion in 2023, while New Zealand FDI in the United States totaled $3 billion.
In 2021, New Zealand FDI supported 18,600 jobs in the United States and contributed $1.4 billion to expanding U.S. exports.
