New Zealand GDP Growth Rate  1987-2017 | Data | Chart | Calendar

The New Zealand economy advanced 1.1 percent on quarter in the third quarter of 2016, higher than a downwardly revised 0.7 percent expansion in the previous period and beating market expectations of 0.9 percent. It is the highest growth rate in three quarters. The expansion was broad-based, with thirteen of the sixteen industries rising, while the main weakness came from agriculture. GDP Growth Rate in New Zealand averaged 0.62 percent from 1987 until 2016, reaching an all time high of 2.80 percent in the third quarter of 1999 and a record low of -2.40 percent in the first quarter of 1991.

New Zealand GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-15 10:45 PM Q1 0.7% 0.9% 0.5% 0.8%
2016-09-14 10:45 PM Q2 0.9% 0.9% 1.1% 0.7%
2016-12-21 09:45 PM Q3 1.1% 0.7% 0.9% 0.8%
2017-03-15 09:45 PM Q4 1.1% 0.78%
2017-06-15 10:45 PM Q1 0.82%
2017-09-14 10:45 PM Q2 0.79%




New Zealand GDP Growth Up To 1.1% In Q3


The New Zealand economy advanced 1.1 percent on quarter in the third quarter of 2016, higher than a downwardly revised 0.7 percent expansion in the previous period and beating market expectations of 0.9 percent. It is the highest growth rate in three quarters. The expansion was broad-based, with thirteen of the sixteen industries rising, while the main weakness came from agriculture.

Business services increased 2.0 percent (0.4 percent in Q2), due to scientific, architectural and engineering services. Transport was up 3.7 percent (0.2 percent in Q2), due to increases in road, air, and transport support services. Manufacturing rose 1.2 percent (1.6 percent in Q2), due to food, beverage, and tobacco manufacturing; and transport equipment, machinery and equipment manufacturing. Construction expanded 2.1 percent (2.6 percent in Q2), due to increases in all of the construction sub-industries. In contrast, agriculture declined 0.1 percent (+1.4 percent in Q2), utilities shrank 0.2 percent (-0.4 percent in Q2) and informattion media and telecommunications decreased 1.1 percent (-0.5 percent in Q2).

Year-on-year, the economy expanded 3.5 percent, following a downwardly revised 3.4 percent growth in the pprevious period.

Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com
12/21/2016 10:18:55 PM



New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 0.70 2.80 -2.40 percent [+]
GDP Annual Growth Rate 3.50 3.40 7.30 -2.50 percent [+]
GDP 173.75 200.14 200.14 5.18 USD Billion [+]
GDP Constant Prices 58298.00 57500.00 58298.00 26766.00 NZD Million [+]
Gross National Product 60080.00 59072.00 60080.00 25099.00 NZD Million [+]
Gross Fixed Capital Formation 14305.00 14111.00 14305.00 4071.00 NZD Million [+]
GDP per capita 36801.40 36272.47 36801.40 21659.83 USD [+]
GDP per capita PPP 35158.64 34653.33 35158.64 22888.25 USD [+]
GDP From Agriculture 3262.00 3264.00 3264.00 1804.00 NZD Million [+]
GDP From Construction 3516.00 3445.00 3516.00 1107.00 NZD Million [+]
GDP From Manufacturing 5849.00 5777.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 797.00 792.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2455.00 2414.00 2455.00 1311.00 NZD Million [+]
GDP From Services 38193.00 37788.00 38193.00 16867.00 NZD Million [+]
GDP From Transport 2469.00 2380.00 2469.00 941.00 NZD Million [+]
GDP From Utilities 1618.00 1622.00 1629.00 1040.00 NZD Million [+]



New Zealand GDP Growth Rate Notes

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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.70 2.80 -2.40 1987 - 2016 percent Quarterly



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