Australia and New Zealand: Economic indicators and trade with EU

Summary:

Our infographic provides an insight into the economic performance of Australia and New Zealand compared to the EU, and looks at the trade dynamics between the two blocs. Australia and New Zealand are among the most developed countries in the world. Although the COVID-19 pandemic interrupted economic growth in 2020, GDP per capita quickly recovered and reached all-time highs the following year. While low unemployment rates and stable currencies contribute to economic strength, rising public debt and increasing inflation affected the recovery process in 2021. Trade relations between the two blocs have been expanding over the past 15 years, mainly driven by exports of goods and services from the EU to Australia and New Zealand, while imports have been stagnating. Being third on the list of main trade partners, the EU accounts for 9 % of Australia and New Zealand's trade with the world, while the latter represents 1.2 % of the EU's total trade in goods.

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