New Zealand GDP Growth Rate

The Gross Domestic Product (GDP) in New Zealand expanded 0.90 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in New Zealand is reported by the Statistics New Zealand. GDP Growth Rate in New Zealand averaged 0.60 Percent from 1987 until 2013, 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. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.90 1.20 2.90 -2.60 1.09 | 2014/06 1987 - 2013 Percent Quarterly

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New Zealand GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-19 11:45 PM New Zealand
GDP Growth Rate QoQ
Q1 2013 0.3% 1.5% 0.6% 1.4%
2013-09-18 11:45 PM New Zealand
GDP Growth Rate QoQ
Q2 2013 0.2% 0.4% (R) 0.1% 0.33%
2013-12-18 09:45 PM New Zealand
GDP Growth Rate QoQ
Q3 2013 1.4% 0.3% (R) 1.1% 0.21%
2014-03-19 09:45 PM New Zealand
GDP Growth Rate QoQ
Q4 2013 0.9% 1.2% (R) 0.9% 0.44%
2014-06-18 11:45 PM New Zealand
GDP Growth Rate QoQ
Q1 2014 0.9% 0.92%
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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 [+]
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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.

The main movements by industry were recorded for manufacturing (up 2.1 percent), driven by increased activity in food, beverage, and tobacco manufacturing. Wholesale trade rose 3.2 percent due to increased machinery and equipment wholesaling.

Business services went down 2.1 percent, as architectural and engineering services fell for the first time since the June quarter 2012 and agriculture, forestry, and fishing fell 2.0 percent, mainly driven by a fall in dairy and livestock production.

Year-on-year, the economy advanced 3.1 percent in the December 2013 quarter.

Economic activity for the year ended December 2013 was up 2.7 percent.

Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com
3/19/2014 10:00:57 PM

RECENT RELEASES

New Zealand GDP Growth Beats Expectations in Q3
In the third quarter of 2013, New Zealand economy expanded 1.5 percent over the previous quarter, the largest increase since the December 2009 quarter. The strong increase in dairy production was the main contributor to a 17.0 percent rise in agriculture, the largest in more than 25 years. Published on 2013-12-18

New Zealand GDP Expands 0.2% QoQ in Q2
In the second quarter of 2013, New Zealand economy expanded a seasonally adjusted 0.2 percent over the previous quarter, after a rise of 0.4 percent in the first three months of 2013, as the effect of the drought continues to hurt agricultural production. Agriculture fell 6.4 percent due to lower dairy production, while sheep and cattle farming also fell. Published on 2013-09-19


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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