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Economy of New Zealand


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over a third of all export revenues, but since then its price has steadily dropped relative to other commodities and wool is no longer profitable for many farmers. In contrast dairy farming increased, with the number of dairy cows doubling between 1990 and 2007, to become New Zealand's largest export earner. In the year to June 2009, dairy products accounted for 21 percent ($9.1 billion) of total merchandise exports, and the country's largest company, Fonterra, controls almost one-third of the international dairy trade. Other agricultural exports in 2009 were meat 13.2 percent, wool 6.3 percent, fruit 3.5 percent and fishing 3.3 percent. New Zealand's wine industry has followed a similar trend to dairy, the number of vineyards doubling over the same period, overtaking wool exports for the first time in 2007.

Infrastructure

In 2008, oil, gas and coal generated approximately 69 percent of New Zealand's gross energy supply and 31% was generated from renewable energy, primarily hydroelectric power and geothermal power. New Zealand's transport network includes 93,805 kilometres (58,288 mi) of roads, worth 23 billion dollars, and 4,128 kilometres (2,565 mi) of railway lines. Most major cities and towns are linked by bus services, although the private car is the predominant mode of transport. The railways were privatised in 1993, then re-purchased by the government in 2004 and vested into a state owned enterprise. Railways run the length of the country, although most lines now carry freight rather than passengers. Most international visitors arrive via air and New Zealand has seven international airports, although currently only the Auckland and Christchurch airports connect directly with countries other than Australia or Fiji. The New Zealand Post Office had a monopoly over telecommunications until 1989 when Telecom New Zealand was formed, initially as a state-owned enterprise and then privatised in 1990. Telecom still owns the majority of the
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