New Zealand GDP Growth Rate  1987-2016 | Data | Chart | Calendar

New Zealand economy expanded a seasonally adjusted 0.9 percent in the three months to December of 2015, the same pace in the previous quarter and beating market expectations of a 0.6 percent growth, boosted by services and construction. Year-on-year, the economy advanced 2.3 percent. Growth for the year ended December 2015 was 2.5 percent. GDP Growth Rate in New Zealand averaged 0.61 percent from 1987 until 2015, reaching an all time high of 2.90 percent in the third quarter of 1999 and a record low of -2.60 percent in the first quarter of 1991. GDP Growth Rate in New Zealand is reported by the Statistics New Zealand.

New Zealand GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.90 2.90 -2.60 1987 - 2015 percent Quarterly
New Zealand has an advanced market economy, highly dependent on international trade. The country is closely link with Australia, which is the biggest importer of “kiwi” products, supplier and investor. New Zealand’s most developed industries are focused on tourism and exports of agricultural products and are the main source of growth. Yet, in order to keep current expansion rates, New Zealand needs to address persistent current account deficits fueled by heavy household debts and low domestic investments. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-09-16 11:45 PM Q2 0.4% 0.2% 0.5% 0.4%
2015-12-16 09:45 PM Q3 0.9% 0.3% 0.8% 0.6%
2016-03-16 09:45 PM Q4 0.9% 0.9% 0.6% 0.6%
2016-06-15 10:45 PM Q1 0.9% 0.66%
2016-09-14 10:45 PM Q2 0.69%
2016-12-14 09:45 PM Q3 0.66%

New Zealand GDP Growth Steady at 0.9% in Q4


New Zealand economy expanded a seasonally adjusted 0.9 percent in the three months to December of 2015, the same pace in the previous quarter and beating market expectations of a 0.6 percent growth, boosted by services and construction.

The services sector rose 0.8 percent in the last quarter of 2015, mostly due to business services (up 1.5 percent), namely advertising, market research, and management services, as well as scientific, architectural, and engineering services. Retail trade and accommodation (up 1.7 percent) also contributed to growth in the service industries as accommodation, and furniture, electrical, and hardware retailing were up. Construction expanded 2.5 percent as residential building, non-residential building, and construction services grew. In contrast, agriculture shrank 1.7 percent, due to decreased sheep and beef production.
 
The expenditure measure of GDP went up 1.1 percent in the fourth quarter following an upwardly revised 1.4 percent in the September quarter. Household spending increased 1.1 percent, exports grew 0.3 percent and imports went up 0.7 percent, while investment in plant, machinery, and equipment, and transport equipment decreased 1.1 percent.
 
Year-on-year, the economy expanded 2.3 percent in the fourth quarter of 2015, the same growth as in the precedent period.
 
Growth for the year ended December 2015 was 2.5 percent.

Statistics New Zealand | Mojdeh | mojdeh@tradingeconomics.com
3/16/2016 11:01:03 PM

New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.90 2.90 -2.60 percent [+]
GDP Annual Growth Rate 2.30 2.30 7.30 -3.40 percent [+]
GDP 199.97 187.94 199.97 5.18 USD Billion [+]
GDP Constant Prices 56578.00 55854.00 56578.00 26680.00 NZD Million [+]
Gross National Product 57896.00 56995.00 57896.00 25040.00 NZD Million [+]
Gross Fixed Capital Formation 13670.00 13826.00 13826.00 4077.00 NZD Million [+]
GDP per capita 29201.12 28715.66 29201.12 16581.13 USD [+]
GDP per capita PPP 33360.36 32805.75 33360.36 22636.26 USD [+]
GDP From Agriculture 3425.00 3474.00 3474.00 1713.00 NZD Million [+]
GDP From Construction 3373.00 3284.00 3678.00 1214.00 NZD Million [+]
GDP From Manufacturing 5742.00 5742.00 6691.00 4244.00 NZD Million [+]
GDP From Mining 930.00 940.00 1205.00 477.00 NZD Million [+]
GDP From Public Administration 2401.00 2389.00 2401.00 1310.00 NZD Million [+]
GDP From Services 37069.00 36778.00 37069.00 16509.00 NZD Million [+]
GDP From Transport 2284.00 2307.00 2347.00 938.00 NZD Million [+]
GDP From Utilities 1617.00 1634.00 1634.00 1057.00 NZD Million [+]




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Mozambique -2.10 Dec/15
Bolivia -9.72 Jun/15