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

The New Zealand economy advanced 1.0 percent on quarter in the second quarter of 2018, above 0.5 percent in the previous quarter and market expectations of 0.7 percent. It was the largest quarterly rise in two years, as 15 of the 16 industries expanded. 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 Jumps to 1.0% QoQ


The New Zealand economy advanced 1.0 percent on quarter in the second quarter of 2018, above 0.5 percent in the previous quarter and market expectations of 0.7 percent. It was the largest quarterly rise in two years, as 15 of the 16 industries expanded.

Agriculture jumped to a 4.1 percent growth rate (vs 1.0 percent in Q1), the strongest quarterly growth since Q3 2014 and mainly boosted by dairy production and forestry. Also, construction (+0.6 percent vs -0.9 percent) and utilities (+3.7 percent vs -0.6 percent) rebounded. Growth in electricity generation was the largest in nine years, with wet and cold weather likely to have influenced both production and demand. In addition, services gained steam (1.0 percent vs 0.6 percent), mainly nudged by wholesale trade (+1.7 percent vs +0.3 percent), retail trade & accommodation (+1.5 percent vs +0.3 percent), transport (+1.8 percent vs +0.6 percent), real estate services (+0.9 percent vs +0.4 percent), recreations & arts services (+3.5 percent vs +0.8 percent), and health services (+0.7 percent vs +0.4 percent). 

In contrast, mining plummeted 19.9 percent (-1.4 percent), the largest fall in 29 years after an unplanned shutdown stalled gas production. Also, manufacturing moderated its growth pace to 0.4 percent (vs 0.6 percent), further affected by lower petroleum and chemical product manufacturing following a planned shutdown at Marsden Point refinery.

Year-on-year, GDP expanded 2.8 percent year-on-year in the second quarter of 2018, slightly up from a downwardly revised 2.6 percent growth in the previous period and above market expectations of 2.5 percent. 


Statistics New Zealand | Mario | mario@tradingeconomics.com
9/20/2018 11:15:35 AM



Calendar GMT Actual Previous Consensus TEForecast
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%
2018-09-19 10:45 PM GDP Growth Rate QoQ 1% 0.5% 0.7% 0.7%
2018-12-20 09:45 PM GDP Growth Rate QoQ 1% 1.2%


New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 0.50 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.80 2.60 7.30 -2.40 percent [+]
GDP 205.85 189.29 205.85 5.18 USD Billion [+]
GDP Constant Prices 61875.00 61140.00 61875.00 26757.00 NZD Million [+]
Gross National Product 65229.00 64823.00 65229.00 25092.00 NZD Million [+]
Gross Fixed Capital Formation 15637.00 15648.00 15648.00 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 3360.00 3228.00 3360.00 1804.00 NZD Million [+]
GDP From Construction 3824.00 3803.00 3837.00 1108.00 NZD Million [+]
GDP From Manufacturing 6000.00 5975.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 602.00 753.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2611.00 2603.00 2611.00 1311.00 NZD Million [+]
GDP From Services 41215.00 40796.00 41215.00 16791.00 NZD Million [+]
GDP From Transport 2877.00 2826.00 2877.00 941.00 NZD Million [+]
GDP From Utilities 1784.00 1720.00 1784.00 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. Services are the biggest sector of the economy and account for 75 percent of total GDP including: 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 with manufacturing constituting 13 percent and construction 4 percent. Agriculture, fishing, forestry and mining accounts for the remaining 8 percent. 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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.50 2.80 -2.40 1987 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Singapore 4.70 Sep/18
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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