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New Zealand is heavily dependent on trade—particularly in agricultural products—to drive growth, and it has been affected by global economic slowdowns and slumps in commodity prices. Since agricultural exports are highly sensitive to currency values and a large percentage of consumer goods are imported, any changes in the value of the New Zealand dollar has a strong impact on the economy.

Confronted like Australia with the strategic implications of Britain's 20th-century eclipse as a world power of the first rank, New Zealand joined with Australia and the United States in the ANZUS pact in 1951, but the US suspended its defence commitments to the country in 1986 after the then Labour government banned nuclear-powered or armed ships from New Zealand ports.

Britain was motivated by the desire to forestall other European powers (France established a very small settlement on Banks Peninsula in the South Island at Akaroa also in 1840) and to end the lawlessness of European (predominantly British) whalers and traders. Maori chiefs were motivated by the promises of protection of their existing possessions (which was only partially carried out) and by the promise of protection against other Maori using muskets obtained from European whalers and traders (the Musket Wars of 1820-1835).

The remoteness of many parts of New Zealand and the distance of the country from much of the developed world meant that things that were easily obtainable in other parts of the world were often not readily available locally. New Zealand has only recently experienced economic development outside farming, so traditionally, Kiwis are jacks-of-all-trades to some extent, willing to roll up their sleeves and have a go. Most highly industrialised countries produce experts trained in narrow fields of specialisation, but New Zealand professionals are often generalists as well. This reputation often makes New Zealanders uniquely valued employees in overseas organisations.

New Zealand was featured as the setting for "Middle Earth" in the renowned early 21st century trilogy of films based on Tolkien's Lord of the Rings books. It has brought an additional interest in tourism to the nation.

Of New Zealand's four million people, roughly three million live in the North Island and one million in the South Island. These islands are among the largest in the world and the combined land area is comparable to the British Isles or the US state of Colorado. Along with Aotearoa, another Maori name for New Zealand was Niu Tireni, a transliteration of the English name.

While New Zealand men often take pride in being 'strong, silent types', this attitude may have a downside in contributing to New Zealand having one of the highest suicide rates among young males in the industrialised world.