New Zealand GDP Growth Rate 1987-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in New Zealand expanded 0.70 percent in the second 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.


New Zealand GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 1.00 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 Wednesday, October 22, 2014.

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.

Overall, services increased 1.4 percent on a quarter-on-quarter basis, the highest growth since the December 2006 quarter. Business services (up 4.2 percent) was the main driver, although accommodation and food services increased 3.0 percent.

Construction was up 2.2 percent, due to heavy and civil engineering construction; retail trade and accommodation was up 1.4 percent, due to increased accommodation and food services, and retail trade; wholesale trade was up 2.2 percent due to machinery and equipment wholesaling.

These increases were partly offset by a 3.1 percent decrease in primary industries, where agriculture, forestry and fishing  (down 2.8 percent) and mining all fell.

Year-on-year, the GDP advanced 3.9 percent, up from a 3.8 percent expansion in the first three months of 2014.

Statistics New Zealand | Joana Taborda |
9/18/2014 12:00:31 AM

Recent Releases

New Zealand GDP Expands 1.0% QoQ in Q1
The New Zealand economy advanced at a seasonally adjusted 1.0 percent quarter-on-quarter in the first three months of 2014, unchanged from a revised 1.0 percent increase in the previous quarter. The construction sector posted the largest gain in fourteen years, being responsible for two-thirds of GDP growth this quarter. Published on 2014-06-19

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. Published on 2014-03-19

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 1.0% 1.0% (R) 1.2% 0.92%
2014-09-17 11:45 PM New Zealand
GDP Growth Rate QoQ
Q2 2014 0.7% 1.0% 0.6% 1.1%
2014-12-17 11:45 PM New Zealand
GDP Growth Rate QoQ
Q3 2014 0.7% 0.99%

New Zealand GDP Last Previous Highest Lowest Unit
GDP 182.59 171.47 182.59 5.18 USD Billion [+]
GDP Growth Rate 0.70 1.00 2.90 -2.60 Percent [+]
GDP Annual Growth Rate 3.90 3.80 7.30 -3.40 Percent [+]
GDP Constant Prices 39161.00 38656.00 39161.00 20006.00 NZD Million [+]
Gross National Product 41054.00 40628.00 41054.00 18914.00 NZD Million [+]
GDP per capita 28839.70 28374.78 28839.70 16581.13 USD [+]
Gross Fixed Capital Formation 10018.00 9808.00 10018.00 3223.00 NZD Million [+]
GDP per capita PPP 32768.18 32239.94 32768.18 22344.41 USD [+]