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. 2014-04-19

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


New Zealand GDP Annual Growth Rate

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%

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 [+]

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.


New Zealand Inflation Rate Slows in Q1  
The CPI increased 1.5 percent in the year to the March 2014 quarter, following a 1.6 percent increase in the year to the December 2013 quarter. About half of the annual increase came from housing and household utility prices, which increased 3.3 percent.
New Zealand Posts Trade Surplus in February  
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.
New Zealand Unemployment Rate Falls in Q4 2013  
In the fourth quarter of 2013, New Zealand jobless rate decreased to 6 percent from 6.2 percent in the previous quarter. There were 24,000 more people employed, following an additional 28,000 in the September quarter.
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.


Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.

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