New Zealand History/Great Depression
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New Zealand in the Great Depression[edit | edit source]
As in many other countries, New Zealand National income fell by 40 per cent in three years. Exports were greatly affected, falling by 45 per cent in just two years.
The value of wool declined by 60 per cent from 1929 to 1932, but the value of meat wasn't so badly affected. Dairy farmers increased production of butter and cheese to try and meet the increasing problems, but failed in doing so.
In 1935, the Labour Party became the new government, seeking to promote economic stability. In this, they achieved much, developing social services, state housing, bringing wages back up, and restoring New Zealand to a sense of normality. Forward to New Zealand in World War II ›