The United States (US) has the largest economy in the world and produces the largest amount of GDP ($15.6 trillion)1, which is approximately 22 percent of the global GDP. It is the third-largest country by population in the world behind India and China and the fourth-largest country by land area in the world behind Russia, Canada and China.
- Six percent of imports into Christchurch were from the US ($233 million) in 2012. 34 percent of those imports were boilers, machinery and mechanical appliances. This is six percent of New Zealand’s total imports from the US
- The US is the fourth-largest export market for the Christchurch ports. Almost all trade goes through the airport (98 percent)
- Five percent of exports out of Christchurch ports were bound for the US ($353 million) in 2012. 64 percent of those exports were boilers, machinery and mechanical appliances. This is seven percent of New Zealand’s total exports to the US
- In 2012 there were 248 international students in Canterbury from the US. This was down from 471 in 2010. The US is Canterbury’s seventh-largest market and almost all (218) students are in universities
Market Trends and Projects
Tech start-ups and new global corporations leveraging the internet have flocked to a small area near San Francisco. This area has produced some of the fastest-growing companies in history, including Facebook and Google. This area is seen as a hot-bed for entrepreneurs and start-ups. This area continues to attract the best and the brightest from around the world intent on creating new companies and global entities. Christchurch has the ability to rebuild the city with a massive capital injection. If this money is invested in the correct areas, Christchurch could become ‘The Valley’ of the South Pacific if it uses this rebuild to invest in next-generation technology such as ultra-fast broadband (UFB).
The US has started to invest in alternative energy sources, as well as the production and creation of more resources within its own country. This is to reduce the amount of oil the US imports, and will help stimulate growth and produce more local jobs. Telsa electric cars have also started growing in use and popularity, and the aim is to change the dynamic of the US car market. This is highlighted to show a shift from conventional energy sources and fossil fuels towards a cleaner and greener economy. This also reflects a global shift towards green economies and more environmental awareness.