New Zealand GDP Annual Growth Rate

The Gross Domestic Product (GDP) in New Zealand expanded 3.10 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in New Zealand is reported by the Statistics New Zealand. GDP Annual Growth Rate in New Zealand averaged 2.26 Percent from 1988 until 2013, reaching an all time high of 7.30 Percent in the third quarter of 1993 and a record low of -3.40 Percent in the first quarter of 2009. In New Zealand, services are the biggest sector of the economy and account for 75 percent of total GDP. Within services the most important segments are: finance, insurance and business services (30 percent); personal and community services (13 percent), and transport and communication (11 percent). Industry accounts for 17 percent of GDP. Within industry, manufacturing represents 13 percent of GDP while construction 4 percent. The remaining 8 percent is contributed by agriculture, fishing, forestry and mining. This page provides - New Zealand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.10 3.30 7.30 -3.40 3.76 | 2014/06 1988 - 2013 Percent Quarterly

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New Zealand GDP Annual Growth Rate
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CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-19 11:45 PM New Zealand
GDP Growth Rate YoY
Q1 2013 2.4% 3.2% (R) 2.5% 2.4%
2013-09-18 11:45 PM New Zealand
GDP Growth Rate YoY
Q2 2013 2.5% 2.7% (R) 2.2%
2013-12-18 09:45 PM New Zealand
GDP Growth Rate YoY
Q3 2013 3.5% 2.3% (R) 3.2% 2.44%
2014-03-19 09:45 PM New Zealand
GDP Growth Rate YoY
Q4 2013 3.1% 3.3% (R) 3.0% 2.77%
2014-06-18 11:45 PM New Zealand
GDP Growth Rate YoY
Q1 2014 3.1% 3.1%
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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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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

New Zealand Inflation Rate Slows in Q1  
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The trade balance for February of 2014 was a surplus of $818 million. This is the highest-ever trade surplus for any February month and compares with a surplus of $432 million in February 2013. The rise in dairy exports was supported by logs and meat, with much of the increase in these commodities destined for China.
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.
New Zealand Raises Rate to 2.75%  
Reserve Bank of New Zealand increased its key interest rate by 25 bps to 2.75 percent, aiming to contain inflationary expectations from the housing and non-tradables sectors. The central bank hinted future rate hikes, depending on growth and future price pressures.
New Zealand Repots Highest Trade Surplus On Record for January  
New Zealand reported a trade surplus for the third consecutive month in January as the country's dairy exports to China hit a record high.
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China Becomes New Zealand’s Top Export Partner in 2013  
In December of 2013, New Zealand trade balance turned into a NZD 523 million surplus for the second straight monht. For the December 2013 year, there was a trade deficit of NZD 259 million (0.5 percent of exports), up from an average deficit of 2.5 percent of exports over the previous five December years. China became the country’s top export destination for the first time, due to exports of milk powder.
New Zealand Central Bank Holds Rates  
The Reserve Bank of New Zealand left its benchmark cash rate unchanged at a record low 2.5 percent on January 29th, but said higher rates are likely in the near future to fight inflation pressures from the housing and building sectors.
New Zealand Inflation Rate Edges Up to 1.6% in Q4 2013  
In the fourth quarter of 2013, New Zealand inflation rate accelerated to an annual 1.6 percent, the highest annual rise since the March 2012 quarter.
New Zealand Posts Trade Surplus in November  
In November of 2013, New Zealand trade balance turned into a NZD 183 million surplus. This is the first trade surplus for a November month since 1991 and follows a trade deficit in October 2013, which was the lowest deficit for an October month since the mid-1990s. For the first time, China has surpassed Australia as New Zealand’s top goods export destination on an annual basis.
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