New Zealand’s GDP expanded 2.3 percent on an annual basis in the three months to September 2019, up from a 2.1 percent expansion in the previous period but below market expectations of a 2.4 percent rise. Growth was mainly nudged by retail trade (5.1 percent vs 3.0 percent in Q2), information media & telecommunications (4 percent vs 0.7 percent), construction (5 percent vs 4.1 percent) and public administration and safety (4.3 percent vs 5.6 percent). Also, activity rebounded for utilities (0.8 percent vs -0.3 percent) and manufacturing (0.9 percent vs -0.4 percent). Meanwhile, agriculture expanded at a softer pace (2.4 percent vs 3.9 percent) and transport, postal & warehousing shrank (-1.1 percent vs 1.6 percent). On a quarterly basis, activity rose 0.7 percent following a 0.1 percent expansion, above consensus of 0.6 percent.

GDP Annual Growth Rate in New Zealand averaged 2.64 percent from 1988 until 2019, reaching an all time high of 7.30 percent in the third quarter of 1993 and a record low of -2.30 percent in the first quarter of 2009. This page provides - New Zealand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics New Zealand

GDP Annual Growth Rate in New Zealand is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in New Zealand to stand at 2.50 in 12 months time. In the long-term, the New Zealand GDP Annual Growth Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.


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New Zealand GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.30 2.10 7.30 -2.30 1988 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-20 09:45 PM Q4 2.3% 2.6% 2.5% 2.7%
2019-06-19 10:45 PM Q1 2.5% 2.5% 2.4% 2.6%
2019-09-18 10:45 PM Q2 2.1% 2.5% 2% 2.2%
2019-12-18 09:45 PM Q3 2.3% 2.1% 2.4% 2.3%
2020-03-18 09:45 PM Q4 2.3% 2%


News Stream
2019-09-18
New Zealand GDP Annual Growth Weakest in 5-1/2-Years
The economy in New Zealand advanced 2.1 percent year-on-year in the second quarter of 2019, easing from a 2.5 expansion in the previous period but beating market consensus of 2 percent. It was the weakest growth rate since the last quarter of 2013, amid a slowdown in the services sector (2.4 percent vs 2.6 percent in Q1), namely wholesale trade (1.3 percent vs 2.7 percent), information & telecommunications (0.4 percent vs 1.4 percent) and health care & social assistance (3.3 percent vs 4.5 percent); and in the goods-producing industries (1.1 percent vs 3.1 percent in Q1), in particular manufacturing (-0.7 percent vs 1.9 percent), and construction (3.8 percent vs 5.6 percent). In contrast, primary activities expanded 2.7 percent, faster than a 1.4 percent rise in the prior quarter, boosted by mining (16 percent vs 3.1 percent). On a quarterly basis, the GDP advanced 0.5 percent, after a 0.6 percent expansion in Q1 and also beating forecasts of 0.4 percent.

2019-06-19
New Zealand Annual GDP Growth at 2.5% YoY
The GDP in New Zealand advanced 2.5 percent year-on-year in the first quarter of 2019, matching the upwardly revised 2.5 expansion of the previous period (original: 2.3 percent) and slightly above expectations of 2.5 percent. Growth was mainly nudged by construction, up 5.6 percent after a 1.0 percent rise in the previous quarter. Also, primary activity jumped 1.4 percent after a 0.2 percent advance, while mining rebounded 3.2 percent after plummeting 11.3 percent in the previous three months. Within services, transport, postal & warehousing expanded 5.9 percent, followed by a 4.3 percent expansion in public administration & safety. On a quarterly basis, GDP advanced 0.6 percent, matching both a 0.6 percent expansion in the previous period and market forecasts.

2019-03-20
New Zealand Q4 GDP Growth Weakest in 5 Years
The GDP in New Zealand advanced 2.3 percent year-on-year in the fourth quarter of 2018, easing from a 2.6 percent expansion in the previous period and below market expectations of 2.5 percent. It was the weakest growth rate since Q4 2013, mainly due to a slowdown in primary activity (0.2 percent vs 1.9 percent in Q3), of which agriculture, forestry & fishing (2.3 percent vs 3.1 percent) and mining (-11.3 percent vs -5.3 percent). Also, the service sector grew 3 percent, lower than a 3.2 percent expansion in the prior quarter, namely wholesale trade (2.4 percent vs 5.2 percent), finance & insurance (1.7 percent vs 2.7 percent), and arts, recreation & other services (1.8 percent vs 3 percent). Meanwhile, industrial activities rose further (1.2 percent vs 0.2 percent), boosted by manufacturing (1.7 percent vs 0.3 percent) and construction (1 percent vs -0.6 percent). On a quarterly basis, GDP expanded 0.6 percent, up from a 0.3 percent growth in the Q3 and matching consensus.


New Zealand GDP Annual Growth Rate
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.

New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.10 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.30 2.10 7.30 -2.30 percent [+]
GDP 205.02 202.59 205.02 5.18 USD Billion [+]
GDP Constant Prices 64392.00 63978.00 64392.00 26743.00 NZD Million [+]
Gross National Product 68171.00 66286.00 68171.00 25079.00 NZD Million [+]
Gross Fixed Capital Formation 16104.00 16108.00 16162.00 4056.00 NZD Million [+]
GDP per capita 38000.70 37678.40 38000.70 20073.00 USD [+]
GDP per capita PPP 36354.79 36046.39 36354.79 22651.10 USD [+]
GDP From Agriculture 3383.00 3334.00 3393.00 1762.00 NZD Million [+]
GDP From Construction 4098.00 4075.00 4113.00 1108.00 NZD Million [+]
GDP From Manufacturing 6106.00 6070.00 6212.00 3920.00 NZD Million [+]
GDP From Mining 774.00 783.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2818.00 2805.00 2818.00 1312.00 NZD Million [+]
GDP From Services 42617.00 42428.00 42617.00 16763.00 NZD Million [+]
GDP From Transport 2759.00 2828.00 2828.00 941.00 NZD Million [+]
GDP From Utilities 1718.00 1722.00 1727.00 1040.00 NZD Million [+]