Historically, extractive industries have contributed strongly to New Zealand's economy, focussing at different times on sealing, whaling, <a href="http://fakehost/wiki/Phormium" title="Phormium">flax</a>, gold, <a href="http://fakehost/wiki/Kauri_gum" title="Kauri gum">kauri gum</a>, and native timber.<sup id="cite_ref-RWT_export_evolution_203-0"><a href="#cite_note-RWT_export_evolution-203">[196]</a></sup> The first shipment of refrigerated meat on the <i><a href="http://fakehost/wiki/Dunedin_(ship)" title="Dunedin (ship)">Dunedin</a></i> in 1882 led to the establishment of meat and dairy exports to Britain, a trade which provided the basis for strong economic growth in New Zealand.<sup id="cite_ref-204"><a href="#cite_note-204">[197]</a></sup> High demand for agricultural products from the United Kingdom and the United States helped New Zealanders achieve higher living standards than both Australia and Western Europe in the 1950s and 1960s.<sup id="cite_ref-205"><a href="#cite_note-205">[198]</a></sup> In 1973, New Zealand's export market was reduced when the United Kingdom joined the <a href="http://fakehost/wiki/European_Economic_Community" title="European Economic Community">European Economic Community</a><sup id="cite_ref-206"><a href="#cite_note-206">[199]</a></sup> and other compounding factors, such as the <a href="http://fakehost/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil</a> and <a href="http://fakehost/wiki/1979_oil_crisis" title="1979 oil crisis">1979 energy</a> crises, led to a severe <a href="http://fakehost/wiki/Depression_(economics)" title="Depression (economics)">economic depression</a>.<sup id="cite_ref-207"><a href="#cite_note-207">[200]</a></sup> Living standards in New Zealand fell behind those of Australia and Western Europe, and by 1982 New Zealand had the lowest per-capita income of all the developed nations surveyed by <a href="http://fakehost/wiki/World_Bank_Group" title="World Bank Group">the World Bank</a>.<sup id="cite_ref-208"><a href="#cite_note-208">[201]</a></sup> In the mid-1980s New Zealand deregulated its <a href="http://fakehost/wiki/Agriculture_in_New_Zealand" title="Agriculture in New Zealand">agricultural sector</a> by phasing out <a href="http://fakehost/wiki/Agricultural_subsidy" title="Agricultural subsidy">subsidies</a> over a three-year period.<sup id="cite_ref-209"><a href="#cite_note-209">[202]</a></sup><sup id="cite_ref-210"><a href="#cite_note-210">[203]</a></sup> Since 1984, successive governments engaged in major <a href="http://fakehost/wiki/Macroeconomic" title="Macroeconomic">macroeconomic</a> restructuring (known first as <a href="http://fakehost/wiki/Rogernomics" title="Rogernomics">Rogernomics</a> and then <a href="http://fakehost/wiki/Ruthanasia" title="Ruthanasia">Ruthanasia</a>), rapidly transforming New Zealand from a <a href="http://fakehost/wiki/Protectionism" title="Protectionism">protected</a> and highly regulated economy to a liberalised <a href="http://fakehost/wiki/Free-trade" title="Free-trade">free-trade</a> economy.<sup id="cite_ref-Liberalisation_211-0"><a href="#cite_note-Liberalisation-211">[204]</a></sup><sup id="cite_ref-212"><a href="#cite_note-212">[205]</a></sup>
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