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

New Zealand economy expanded a seasonally adjusted 0.9 percent in the second quarter of 2016, following an upwardly revised 0.9 percent gain the in previous quarter and missing market expectations of a 1.1 percent growth. Construction and services drove the expansion while mining contracted for the third quarter. 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)
2016-03-16 09:45 PM Q4 0.9% 0.9% 0.6% 0.6%
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 0.9% 0.8%
2017-03-16 09:45 PM Q4
2017-06-15 10:45 PM Q1




New Zealand GDP Advances 0.9% QoQ in Q2


New Zealand economy expanded a seasonally adjusted 0.9 percent in the second quarter of 2016, following an upwardly revised 0.9 percent gain the in previous quarter and missing market expectations of a 1.1 percent growth. Construction and services drove the expansion while mining contracted for the third quarter.

The services sector rose 0.7 percent (0.9 percent in Q1), boosted by rental, hiring and real estate activities (1.3 percent compared to 0.3 percent); retail trade and accommodation (1.9 percent compared to 1.4 percent); arts and recreation (1.8 percent compared to 0.5 percent) and health care and social assistance (1.3 percent compared to 2.7 percent). In contrast, activities fell for transport, postal and warehousing (-0.3 percent compared to 1.3 percent); information and telecommunications (-0.3 percent compared to 1.4 percent) and public administration and safety (-1.2 percent compared to 0.9 percent).

The construction sector surged 5 percent (5.1 percent in Q1), manufacturing rebounded (0.8 percent compared to -0.3 percent) and agriculture expanded at a faster 1.4 percent (0.7 percent in Q1). In contrast, mining sharnk for the third straight quarter (-2.5 percent) and utilities output declined 0.3 percent (1.7 percent in Q1).

Year-on-year, the economy advanced 3.6 percent in the June quarter of 2016, following an upwarldly revised 3 percent growth in the previous period.

Statistics New Zealand | Mojdeh Kazemi | mojdeh@tradingeconomics.com
9/15/2016 10:18:03 AM



New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.90 2.80 -2.40 percent [+]
GDP Annual Growth Rate 3.60 3.00 7.30 -2.60 percent [+]
GDP 173.75 200.14 200.14 5.18 USD Billion [+]
GDP Constant Prices 57179.00 56515.00 57179.00 26805.00 NZD Million [+]
Gross National Product 58642.00 58264.00 58642.00 25129.00 NZD Million [+]
Gross Fixed Capital Formation 14283.00 13853.00 14283.00 4071.00 NZD Million [+]
GDP per capita 36463.53 35939.45 36463.53 21659.83 USD [+]
GDP per capita PPP 34762.35 34262.73 34762.35 22839.96 USD [+]
GDP From Agriculture 3493.00 3446.00 3497.00 1805.00 NZD Million [+]
GDP From Construction 3739.00 3561.00 3739.00 1214.00 NZD Million [+]
GDP From Manufacturing 5756.00 5712.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 874.00 897.00 1206.00 478.00 NZD Million [+]
GDP From Public Administration 2407.00 2436.00 2436.00 1311.00 NZD Million [+]
GDP From Services 37674.00 37401.00 37674.00 16839.00 NZD Million [+]
GDP From Transport 2313.00 2320.00 2320.00 941.00 NZD Million [+]
GDP From Utilities 1649.00 1654.00 1654.00 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.90 2.80 -2.40 1987 - 2016 percent Quarterly



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