Economic Performance of New Zealand and Hong Kong for Exporting Baby Products

Running head: ECONOMICS
Economics
Name of the student
Name of the university
Author note

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Table of Contents
Introduction................................................................................................................................3
Market potential of New Zealand..............................................................................................3
Market overview of Hong Kong................................................................................................6
Conclusion..................................................................................................................................9
Reference list............................................................................................................................10

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Introduction
B-Health is an Australian firm in Queensland which is known to specialize in
exporting of baby food. B-Health specializes in the production of cereal food like baby rice
and porridge. It also deals in organic fruits and vegetables, brown rice, organic milk, chia
seeds, milk rusks, organic meat and many more. The paper analyses the socio economic
performance of both Hong Kong and New Zealand and states which country is better for
exporting baby products.
Market potential of New Zealand
Economic environment
The biggest strength of New Zealand is that its close proximity to Australia which
will help in exporting the products of B-Health. The dynamic demographics as a result of
immigration also acts as a strength. New Zealand also maintains a high quality of life. This
country is a land filled with lots of opportunity for any business. The multi faceted market
offers a multitude for both exports and imports for any kind of business (Saunders, Guenther
& Dalziel, 2016). It is also ranked as the 13 the most developed country in terms of Human
Development Index which states that it is one of the best country to do business in. One of
the weakness of New Zealand is that it is dependent on foreign investment. Another
weakness is that there is shortage of skilled labour and lack of proper research and
development.
The gross domestic product of New Zealand is 20585.28 crores USD. The percentage of
growth of gross domestic product is also positive in nature. However, the GDP only grew 2
percent from 2016 to 2017 (Market Research Reports & Analysis, 2019).

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2013 2014 2015 2016 2017
0
0.5
1
1.5
2
2.5
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3.5
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4.5
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% Growth of GDP
% Growth of GDP
Unemployment trends
Presently the rate of unemployment in New Zealand is 4.2 percent which states that around
116,000 people were unemployed.
2014 2015 2016 2017 2018
0
1
2
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Unemployment rate
Unemployment rate
The unemployment rate in the graph shows that the rate have decreased in the present years
which suggest that the economy is in a good state.
The data from World Bank in the year 2017 states that the population 47.9 lakhs. The
majority of the population of New Zealand is of European descent (Yin-Ping, 2016). The life
expectancy at birth is known to increase from 80 to 85 years in 2050.