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

New Zealand economy advanced a seasonally adjusted 0.7 percent in the three months to March of 2016, following 0.9 percent expansion in the previous period and above market expectations of a 0.5 percent increase. The latest growth was driven by the construction and health industries, but partly offset by decreases in the primary industries and manufacturing. Year-on-year, the economy expanded 2.8 percent. GDP Growth Rate in New Zealand averaged 0.61 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. 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
0.70 0.90 2.80 -2.40 1987 - 2016 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-16 09:45 PM Q3 0.9% 0.3% 0.8% 0.6%
2016-03-16 09:45 PM Q4 0.9% 0.9% 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 0.7% 0.7%
2016-12-14 09:45 PM Q3 0.6%

New Zealand GDP Growth Beats Expectations in Q1


New Zealand economy advanced a seasonally adjusted 0.7 percent in the three months to March of 2016, following 0.9 percent expansion in the previous period and above market expectations of a 0.5 percent increase. The latest growth was driven by the construction and health industries, but partly offset by decreases in the primary industries and manufacturing. Year-on-year, the economy expanded 2.8 percent.

The main driver behind the GDP growth was construction, which rose 4.9 percent. This was the strongest quarterly growth for the industry since March 2014. 

The increase in construction also reflected higher construction-related investment. Investment in other construction (infrastructure such as roading and telecommunications) was up 12 percent – the highest quarterly growth since June 2014. Investment in residential building rose 4.2 percent, driven by strong increases in Auckland and Waikato, but eased in Canterbury.

Rising demand saw service industries grow 0.8 percent this quarter. The health (+2.7 percent) and retail trade (+1.3 percent) industries led the overall increase.

Strong tourist arrivals also supported the growth in service industries, reflecting a 4.9 percent rise in tourist spending.

In contrast, mining industry shrank 3.3 percent, driven by lower oil and gas extraction and coal mining. Manufacturing was down 0.4 percent, due to decreased food, beverage, and tobacco production. Agriculture production decreased 0.1 percent, reflecting a fall in sheep and beef farming and partially offset by increased milk production.

The expenditure measure of GDP expanded 0.5 percent, following 0.8 percent growth in the December quarter. Household spending increased 0.4 percent (+1 percent in Q4), government expenditure (+0.5 percent from -0.3 percent in Q4) and investments  (+2.4 percent from -2.2 percent in Q4) rebounded. Imports grew 0.2 percent while exports fell 1 percent, driven by dairy (-8.9 percent), meat (-13 percent) and coal, crude petroleum and ores, minerals and gases (-39 percent) sales. 


Statistics New Zealand | Yekaterina Guchshina | yekaterina@tradingeconomics.com
6/16/2016 12:44:15 AM

New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.90 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.80 2.30 7.30 -3.40 percent [+]
GDP 173.75 200.14 200.14 5.18 USD Billion [+]
GDP Constant Prices 56438.00 56172.00 56438.00 26805.00 NZD Million [+]
Gross National Product 58264.00 57896.00 58264.00 25040.00 NZD Million [+]
Gross Fixed Capital Formation 13809.00 13490.00 13809.00 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 3424.00 3408.00 3486.00 1805.00 NZD Million [+]
GDP From Construction 3553.00 3388.00 3553.00 1214.00 NZD Million [+]
GDP From Manufacturing 5710.00 5733.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 898.00 929.00 1206.00 478.00 NZD Million [+]
GDP From Public Administration 2443.00 2418.00 2443.00 1311.00 NZD Million [+]
GDP From Services 37376.00 37097.00 37376.00 16839.00 NZD Million [+]
GDP From Transport 2321.00 2287.00 2321.00 941.00 NZD Million [+]
GDP From Utilities 1647.00 1624.00 1647.00 1040.00 NZD Million [+]




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Switzerland 0.10 Mar/16
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Peru 0.00 Mar/16
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Belize -0.25 Dec/15
Brazil -0.30 Mar/16
Indonesia -0.34 Mar/16
Hong Kong -0.40 Mar/16
Greece -0.50 Mar/16
Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Argentina -0.70 Mar/16
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
Uganda -1.30 Mar/16
Kenya -1.40 Mar/16
Namibia -1.60 Mar/16
Ecuador -1.90 Mar/16
Ireland -2.10 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16