Australia and New Zealand Economies: A Side-by-Side Table Comparison

In comparing Australia and New Zealand, Australia boasts a population about 5 times larger and a land area nearly 29 times greater. Its economy is roughly 6.8 times larger, with a higher GDP per capita. While Australia invests heavily in military, New Zealand shows greater income inequality. Both nations differ significantly in trade dynamics, with Australia exporting over 7 times more than New Zealand.

Basic Indicators

Indicator	Australia	New Zealand	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	5.12 million (118th)	Australia’s population is approximately 5.1 times larger than New Zealand’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.27 million sq. km (73rd)	Australia is 28.7 times larger than New Zealand.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	248.10B USD (49th)	Australia’s total GDP is approximately 6.8 times larger than New Zealand’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	48,419 USD (25th)	Australia’s GDP per capita is roughly 34% higher than New Zealand’s, with Australians producing about $16,681 more per person annually.

Economic Indexes

Index	Australia	New Zealand	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.939 (16th)	Australia’s HDI is 0.946 (very high), while New Zealand’s is 0.939 (very high). Australia’s score is 0.007 higher, indicating a slightly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	77.8 (5th)	Australia’s Index of Economic Freedom is 2.1% lower than New Zealand’s, 1.6 points less.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	36.2 (1997)	With a 5.5% higher Gini coefficient, New Zealand has a higher degree of income inequality than Australia.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	New Zealand
Total imports	363.57B USD	68.43B
Imports % of GDP	19.71%	29.56%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 21%, Australia 14%, US 8%, South Korea 7%, Singapore 6%
Main import items	refined petroleum, cars, garments, trucks, plastic products	refined petroleum, cars, plastic products, garments, trucks
Total exports	447.51B USD	59.04B
Exports % of GDP	25.43%	24.24%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	China 28%, Australia 11%, US 11%, Japan 6%, South Korea 4%
Main export items	coal, iron ore, natural gas, gold, wheat	milk, beef, wood, sheep and goat meat, butter

Australia imports over five times more than New Zealand, but New Zealand’s imports make up 50% more of its GDP than Australia’s. Australia’s exports are over seven times New Zealand’s, focusing on minerals and energy, while New Zealand mainly exports agricultural products.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	New Zealand
Military expenditure	32.3B USD	3.0B USD
Military expenditure (% of GDP)	1.90%	1.18%
Active military	59k	9k
Active military per 1,000 capita	3.8	2.5

Australia’s military expenditure is over ten times larger than New Zealand’s at $32.34 billion compared to $3.03 billion, and Australia allocates a greater percentage of its GDP to defense at 1.90% versus New Zealand’s 1.18%.