NZ rated as low middle income
New figures from OECD rank New Zealand as low middle income country - Australia rated high middle income
12 January 2005
There are some figures to support the belief that the grass is greener across the Tasman.
New figures from the OECD rank New Zealand as a low middle income country.
Australia on the other hand is classed as high middle income.
The rankings are based on purchasing power, taking into account the cost of around 3000 items, from a litre of milk to building a house.
Luxembourg is the richest nation.
The other high income nations are Norway, the United States, Ireland and Switzerland.
Another 14 were listed as high middle income.
They include Britain, Canada, France, Japan and Australia.
New Zealand is lumped low middle with the likes of Spain, Israel, Greece and Korea.
The unlucky last in the low income group is the former Yugoslav Republic of Macedonia.