New Zealand GDP

The Gross Domestic Product (GDP) in New Zealand was worth 169.68 billion US dollars in 2012. The GDP value of New Zealand represents 0.27 percent of the world economy. GDP in New Zealand is reported by the The World Bank Group. From 1960 until 2012, New Zealand GDP averaged 46.1 USD Billion reaching an all time high of 169.7 USD Billion in December of 2012 and a record low of 5.2 USD Billion in December of 1968. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - New Zealand GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
169.68 159.71 169.68 5.18 189.33 | 2014/06 1960 - 2012 USD Billion Yearly

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New Zealand GDP
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 38717.00 2013-11-15 38494.00 38717.00 20006.00 39496.88 2014-06-30 NZD Million [+]
Gross Fixed Capital Formation 9787.00 2013-11-15 9745.00 9787.00 3223.00 10777.55 2014-06-30 NZD Million [+]
Gross National Product 40626.00 2013-11-15 40741.00 40741.00 18914.00 42517.46 2014-06-30 NZD Million [+]
GDP per capita 27769.95 2012-12-31 27139.16 28168.16 8042.68 28458.61 2014-06-30 USD [+]
GDP per capita PPP 25689.46 2012-12-31 25105.92 26057.83 17344.14 26326.54 2014-06-30 USD [+]
GDP Growth Rate 0.90 2013-12-31 1.20 2.90 -2.60 1.09 2014-06-30 Percent [+]
GDP Annual Growth Rate 3.10 2013-12-31 3.30 7.30 -3.40 3.76 2014-06-30 Percent [+]
GDP 169.68 2012-12-31 159.71 169.68 5.18 189.33 2014-06-30 USD Billion [+]
[+]


GDP | Notes
The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output. GDP can be defined in three ways, which should give identical results. First, it is equal to the total expenditures for all final goods and services produced within the country in a specified period of time (usually a 365-day year). Second, it is equal to the sum of the value added at every stage of production by all the industries, plus taxes and minus subsidies on products. Third, it is equal to the sum of the income generated by production like compensation of employees, taxes on production and imports less subsidies, and gross operating surplus.


RELATED NEWS

Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
New Zealand Inflation Rate Slows in Q1  
The CPI increased 1.5 percent in the year to the March 2014 quarter, following a 1.6 percent increase in the year to the December 2013 quarter. About half of the annual increase came from housing and household utility prices, which increased 3.3 percent.
New Zealand Posts Trade Surplus in February  
The trade balance for February of 2014 was a surplus of $818 million. This is the highest-ever trade surplus for any February month and compares with a surplus of $432 million in February 2013. The rise in dairy exports was supported by logs and meat, with much of the increase in these commodities destined for China.
New Zealand GDP Growth Slows in Q4  
New Zealand economy advanced 0.9 percent in the last quarter of 2013, slowing from a revised 1.2 percent in the previous three-month period. Strong growth in manufacturing was not enough to offset a drop in architectural and engineering services and a fall in dairy and livestock production.
New Zealand Raises Rate to 2.75%  
Reserve Bank of New Zealand increased its key interest rate by 25 bps to 2.75 percent, aiming to contain inflationary expectations from the housing and non-tradables sectors. The central bank hinted future rate hikes, depending on growth and future price pressures.
New Zealand Repots Highest Trade Surplus On Record for January  
New Zealand reported a trade surplus for the third consecutive month in January as the country's dairy exports to China hit a record high.
New Zealand Unemployment Rate Falls in Q4 2013  
In the fourth quarter of 2013, New Zealand jobless rate decreased to 6 percent from 6.2 percent in the previous quarter. There were 24,000 more people employed, following an additional 28,000 in the September quarter.
China Becomes New Zealand’s Top Export Partner in 2013  
In December of 2013, New Zealand trade balance turned into a NZD 523 million surplus for the second straight monht. For the December 2013 year, there was a trade deficit of NZD 259 million (0.5 percent of exports), up from an average deficit of 2.5 percent of exports over the previous five December years. China became the country’s top export destination for the first time, due to exports of milk powder.
New Zealand Central Bank Holds Rates  
The Reserve Bank of New Zealand left its benchmark cash rate unchanged at a record low 2.5 percent on January 29th, but said higher rates are likely in the near future to fight inflation pressures from the housing and building sectors.
New Zealand Inflation Rate Edges Up to 1.6% in Q4 2013  
In the fourth quarter of 2013, New Zealand inflation rate accelerated to an annual 1.6 percent, the highest annual rise since the March 2012 quarter.
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Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
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Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
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Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
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