New Zealand’s economy expanded 3% from a year earlier in the fourth quarter of 2021, from a downwardly revised 0.2% contraction in the prior period and below market expectations of a 3.3% increase. The economy expanded amid looser Covid-19 restrictions throughout the country, in sharp contrast with the previous quarter. On a quarterly basis, the economy grew 3 percent in the three months leading to December, after contracting 3.6 percent in the prior quarter. Considering the full 2021, the Kiwi economy contracted 1.4 percent, compared to the 2.2 percent increase in 2020, despite the pandemic. source: Statistics New Zealand
GDP Annual Growth Rate in New Zealand averaged 2.62 percent from 1988 until 2021, reaching an all time high of 17.90 percent in the second quarter of 2021 and a record low of -10.20 percent in the second quarter of 2020. This page provides - New Zealand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
GDP Annual Growth Rate in New Zealand is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand GDP Annual Growth Rate is projected to trend around 2.00 percent in 2023 and 2.40 percent in 2024, according to our econometric models.