New Zealand GDP Growth Rate 1987-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in New Zealand expanded 1 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in New Zealand averaged 0.61 percent from 1987 until 2014, 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.

      Forecast    
New Zealand GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.90 2.90 -2.60 1987 - 2014 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. Content for - New Zealand GDP Growth Rate - was last refreshed on Monday, March 30, 2015.


New Zealand's Economy Grew Slightly More than Expected in Q4


New Zealand's GDP rose a seasonally adjusted 0.8 percent in the last quarter of 2014, following a revised 0.9 percent expansion in the previous quarter, boosted by spending from international tourists.

Retail and accommodation increased 2.3 percent in the December 2014 quarter, buoyed by a 15 percent increase in international tourist spending and a 1.8 percent rise in retail trade. It is the largest growth in the sectors since September of 2011 when New Zealand hosted the Rugby World Cup.

Services industries went up 0.8 percent (0.3 percent in Q3). The most notable gains were in rental, hiring, and real estate services (+1.2 percent), due to increases in the number of house sales that drove the real estate services up more than 20 percent; and in financial and insurance services (+ 1.1 percent), mostly due to increased banking activity

The goods producing industries slowed 0.3 percent (0.6 percent in Q3) in the fourth quarter of 2014. Manufacturing activity increased 1.0 percent, driven by petroleum manufacturing. Construction sector grew 0.3 percent, improving from previous quarter’s fall. Electricity, gas, water, and waste services decreased 2.5 percent, due to lower hydroelectricity generation.

Primary industries fell 0.3 percent, after a 4.5 percent rise in the third quarter. Agriculture were up 0.1 percent, slowing from strong growth in previous quarter and mining dropped 1.5 percent, after a 5.9 rise in the previous quarter.  

Year-on-year, the economy grew 3.5 percent, the highest level since the fourth quarter of 2007.

Statistics New Zealand | Carolina Cunha | carolina.cunha@tradingeconomics.com
3/19/2015 9:39:09 AM


Recent Releases

New Zealand GDP Expands More than Expected in Q3
New Zealand economy grew a seasonally adjusted 1 percent from June to September period, up from 0.7 percent expansion reported in the previous three month period driven by gains in agriculture and mining. Published on 2014-12-18

New Zealand GDP Growth Beats Expectations in Q2
The New Zealand economy advanced at a seasonally adjusted 0.7 percent in the second quarter of 2014, slowing from a 1 percent expansion in the previous period but beating market expectations. Services made up about two-thirds of the economy and the biggest increases were in industries that include advertising, employment services, and software development. Published on 2014-09-18


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-17 11:45 PM
GDP Growth Rate QoQ  Q2
0.7% 1.0% 0.6% 1.1%
2014-12-17 09:45 PM
GDP Growth Rate QoQ  Q3
1% 0.7% 0.7% 0.93%
2015-03-18 09:45 PM
GDP Growth Rate QoQ  Q4
0.8% 0.9%(R) 0.7% 0.84%
2015-06-17 11:45 PM
GDP Growth Rate QoQ  Q1
0.8% 0.84%
2015-09-17 11:45 PM
GDP Growth Rate QoQ  Q2
0.82%
2015-12-17 09:45 PM
GDP Growth Rate QoQ  Q3
0.88%


New Zealand GDP Last Previous Highest Lowest Unit
GDP 182.59 171.47 182.59 5.18 USD Billion [+]
GDP Growth Rate 0.80 0.90 2.90 -2.60 percent [+]
GDP Annual Growth Rate 3.50 3.20 7.30 -3.40 percent [+]
GDP Constant Prices 54325.00 53740.00 54325.00 26680.00 NZD Million [+]
Gross National Product 56462.00 56179.00 56462.00 25040.00 NZD Million [+]
GDP per capita 28839.70 28374.78 28839.70 16581.13 USD [+]
Gross Fixed Capital Formation 13673.00 13639.00 13673.00 4077.00 NZD Million [+]
GDP per capita PPP 32768.18 32239.94 32768.18 22344.41 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil 0.30 Nov/14 0.20 4.50 -4.20 percent [+]
Canada 0.60 Nov/14 0.80 3.33 -1.80 percent [+]
China 1.50 Nov/14 1.90 2.50 1.40 percent [+]
Euro Area 0.30 Nov/14 0.20 1.30 -2.80 percent [+]
France 0.10 Nov/14 0.30 1.60 -1.70 percent [+]
Germany 0.70 Nov/14 0.10 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -2.06 Nov/14 3.16 3.82 -3.57 percent [+]
Italy 0.00 Nov/14 -0.10 6.00 -3.50 percent [+]
Japan 0.40 Nov/14 -0.60 3.20 -4.00 percent [+]
Mexico 0.70 Nov/14 0.50 2.90 -6.60 percent [+]
Netherlands 0.80 Nov/14 0.30 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.30 Nov/14 0.80 6.80 -7.00 percent [+]
Spain 0.80 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.50 Nov/14 0.70 5.00 -2.70 percent [+]
United States 2.20 Nov/14 5.00 16.90 -10.00 percent [+]