New Zealand is a wealthy country, with a relatively high GDP per capita and a relatively low rate of poverty. Since the 1980s, New Zealand has transformed from an agrarian, regulated economy to a more industrialised, free market economy that can compete globally. Since 1984, government subsidies including for agriculture have been eliminated; import regulations have been liberalised; exchange rates have been freely floated; controls on interest rates, wages, and prices have been removed; and marginal rates of taxation reduced. The restructuring and sale of state-owned enterprises in the 1990s reduced government's role in the economy. Many of the largest companies lost ground and new enterprises were established. New Zealand companies are dependent on international trade, mainly with Australia, the European Union, the United States, China, South Korea, Japan and Canada. The major capital market is the New Zealand Exchange, known as the NZX.