Story: Economic history

Industry shares in nominal GDP, 1920–2008

Industry shares in nominal GDP, 1920–2008

This graph shows how the contribution to gross domestic product (GDP) of different sectors of the economy changed during the 20th century. There was a marked decline in agriculture and this seems to have increased after the market reforms of the 1980s removed government support for farming. Manufacturing also declined relatively from 1980 as the protection of import controls was removed. The major growth came in the service sector, and especially in the finance and business services. This reflected a more developed economy with a high reliance on educationally based technical skills, and the growth of the tourist and creative industries.

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Source: Brian Easton, In stormy seas : the post-war New Zealand economy. Dunedin, Otago University Press, 1997

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How to cite this page:

Brian Easton, 'Economic history - Government and market liberalisation', Te Ara - the Encyclopedia of New Zealand, (accessed 26 July 2024)

Story by Brian Easton, published 11 Mar 2010