This graph shows the growth in both the real value of New Zealand’s exports, and gross domestic product (GDP) since 1860. The fact that the course of export growth is closely mirrored by the course of GDP growth suggests how important trade was in determining New Zealand’s economic fortunes. This is also implied by the high proportion of exports relative to GDP – throughout this period they were the equivalent of between a fifth and a third of GDP. The figures have been adjusted to year-2000 dollars.