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

New Zealand economy advanced a seasonally adjusted 0.9 percent in the three months to September of 2015, following a downwardly revised 0.3 percent growth in the previous quarter and beating market expectations of 0.8 percent. It was the highest level since the third quarter of 2014, driven by growth in the service industries and manufacturing. 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 0.40 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-17 11:45 PM Q1 0.2% 0.8% 0.6% 0.5%
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% 0.64%
2016-06-15 10:45 PM Q1 0.63%
2016-09-14 10:45 PM Q2 0.63%

New Zealand GDP Expands 0.9% in Q3


New Zealand economy advanced a seasonally adjusted 0.9 percent in the three months to September of 2015, following a downwardly revised 0.3 percent growth in the previous quarter and beating market expectations of 0.8 percent. It was the highest level since the third quarter of 2014, driven by growth in the service industries and manufacturing.

The service industries collectively grew 0.9 percent in the quarter, driven by increases in business services, retail trade and accommodation, and transport services.

There was a mixed picture for the goods-producing industries, with an increase in manufacturing partly offset by a decrease in construction. Manufacturing grew 2.8 percent, due to the largest increase in food, beverage, and tobacco manufacturing since March 2012. Production, domestic consumption, and exports of food and beverage products all increased. The construction industry was down 2.9 percent, driven by heavy and civil engineering construction, which reflects lower investment in other construction.

The expenditure measure of GDP showed a 1.2 percent increase in the September quarter, with net exports (exports less imports) driving this increase. Household spending increased 0.6 percent, and investment in transport equipment and plant, machinery, and equipment increased.

Year-on-year, the economy expanded by 2.3 percent in the third quarter of 2015, slowing from a 2.4 percent gain in the precedent period.

Statistics New Zealand | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/16/2015 10:15:03 PM

New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.40 2.90 -2.60 percent [+]
GDP Annual Growth Rate 2.30 2.40 7.30 -3.40 percent [+]
GDP 166.13 145.28 166.13 5.18 USD Billion [+]
GDP Constant Prices 55854.00 54554.00 55854.00 26680.00 NZD Million [+]
Gross National Product 56995.00 56810.00 56995.00 25040.00 NZD Million [+]
Gross Fixed Capital Formation 13826.00 13616.00 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 3474.00 3103.00 3474.00 1713.00 NZD Million [+]
GDP From Construction 3284.00 3678.00 3678.00 1214.00 NZD Million [+]
GDP From Manufacturing 5742.00 5964.00 6691.00 4244.00 NZD Million [+]
GDP From Mining 940.00 895.00 1205.00 477.00 NZD Million [+]
GDP From Public Administration 2389.00 2355.00 2389.00 1310.00 NZD Million [+]
GDP From Services 36778.00 35353.00 36778.00 16509.00 NZD Million [+]
GDP From Transport 2307.00 2305.00 2347.00 938.00 NZD Million [+]
GDP From Utilities 1634.00 1615.00 1634.00 1057.00 NZD Million [+]




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