New Zealand GDP Growth Rate  1987-2018 | Data | Chart | Calendar

The New Zealand economy advanced 0.5 percent on quarter in the first quarter of 2018, below the 0.6 percent for the previous quarter and matching market expectations. Slower growth was explained by mining (-0.2 percent vs +1.4 percent in the previous quarter), utilities (-0.4 percent vs +0.7 percent), construction (-1.0 percent vs +0.8 percent), and services (+0.6 percent vs +1.1 percent). In contrast, manufacturing activity rebounded 0.7 percent after edging down 0.1 percent in the fourth quarter, while primary activity rebounded 0.6 percent after a 2.6 contraction in Q4. On an annual basis, GDP expanded 2.7 percent, also below the 2.9 percent for the previous quarter and in line with expectations. GDP Growth Rate in New Zealand averaged 0.64 percent from 1987 until 2018, 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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New Zealand GDP Growth Eases to 0.5% QoQ


The New Zealand economy advanced 0.5 percent on quarter in the first quarter of 2018, below the 0.6 percent for the previous quarter and matching market expectations.

Slower growth was explained by contractions in mining (-0.2 percent vs +1.4 percent in the previous quarter), utilities (-0.4 percent vs +0.7 percent) and construction (-1.0 percent vs +0.8 percent). In addition, growth for services slowed down (+0.6 percent vs +1.1 percent), mainly explained by wholesale trade (+0.2 percent vs +2.3 percent), retail trade & accommodation (+0.3 percent vs 1.6 percent), transport (0.5 percent vs 1.6 percent), and financial & insurance services (0.1 percent vs 1.0 percent).

In contrast, manufacturing activity rebounded 0.7 percent after edging down 0.1 percent in the fourth quarter, while primary activity rebounded 0.6 percent after a 2.6 contraction in Q4.

Year-on-year, GDP expanded 2.7 percent, also below the 2.9 percent for the previous quarter and in line with expectations.  


Mario | mario@tradingeconomics.com
6/20/2018 11:01:30 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-20 09:45 PM GDP Growth Rate QoQ 0.6% 1.0% 0.5% 0.7%
2018-03-14 09:45 PM GDP Growth Rate QoQ 0.6% 0.6% 0.7% 0.7%
2018-06-20 10:45 PM GDP Growth Rate QoQ 0.5% 0.6% 0.5% 0.7%
2018-09-20 10:45 PM GDP Growth Rate QoQ 0.5% 0.50%
2018-12-20 09:45 PM GDP Growth Rate QoQ 0.6%


New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.60 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.70 2.90 7.30 -2.50 percent [+]
GDP 205.85 189.29 205.85 5.18 USD Billion [+]
GDP Constant Prices 61197.00 61061.00 61197.00 26759.00 NZD Million [+]
Gross National Product 64823.00 64124.00 64823.00 25092.00 NZD Million [+]
Gross Fixed Capital Formation 15709.00 15541.00 15709.00 4063.00 NZD Million [+]
GDP per capita 37852.87 37528.46 37852.87 20202.51 USD [+]
GDP per capita PPP 36085.84 35776.57 36085.84 22181.32 USD [+]
GDP From Agriculture 3205.00 3220.00 3369.00 1804.00 NZD Million [+]
GDP From Construction 3804.00 3838.00 3838.00 1108.00 NZD Million [+]
GDP From Manufacturing 5977.00 5936.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 763.00 776.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2607.00 2545.00 2607.00 1311.00 NZD Million [+]
GDP From Services 40801.00 40529.00 40801.00 16800.00 NZD Million [+]
GDP From Transport 2826.00 2815.00 2826.00 941.00 NZD Million [+]
GDP From Utilities 1721.00 1733.00 1741.00 1040.00 NZD Million [+]


New Zealand GDP Growth Rate

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 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.60 2.80 -2.40 1987 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Turkey 2.00 Mar/18
United States 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Russia 0.85 Mar/18
Spain 0.70 Mar/18
Netherlands 0.60 Mar/18
Switzerland 0.60 Mar/18
Brazil 0.40 Mar/18
Euro Area 0.40 Mar/18
Canada 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
France 0.20 Mar/18
United Kingdom 0.20 Mar/18
Japan -0.20 Mar/18
Indonesia -0.42 Mar/18


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