New Zealand GDP Growth Rate  1987-2017 | Data | Chart | Calendar

The New Zealand economy advanced 0.4 percent on quarter in the last three months of 2016, slowing from a downwardly revised 0.8 percent growth in the previous period and below market expectations of 0.7 percent. It is the smallest expansion in six quarters, as services slowed and agriculture and manufacturing contracted. GDP Growth Rate in New Zealand averaged 0.62 percent from 1987 until 2016, 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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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-14 10:45 PM Q2 0.9% 0.9% 1.1% 0.7%
2016-12-21 09:45 PM Q3 1.1% 0.7% 0.9% 0.8%
2017-03-15 09:45 PM Q4 0.4% 0.8% 0.7% 0.8%
2017-06-15 10:45 PM Q1 0.4% 0.67%
2017-09-14 10:45 PM Q2 0.66%
2017-12-14 09:45 PM Q3 0.70%




New Zealand GDP Growth Slows More Than Expected in Q4


The New Zealand economy advanced 0.4 percent on quarter in the last three months of 2016, slowing from a downwardly revised 0.8 percent growth in the previous period and below market expectations of 0.7 percent. It is the smallest expansion in six quarters, as services slowed and agriculture and manufacturing contracted.

Services was the main driver of GDP growth and rose 0.7 percent (1.1 percent in Q3). Business services went up 1.7 percent (2.6 percent in Q3) due to computer system design and related services and advertising, market research and management services. Retail trade increased 0.6 percent (0.7 percent in Q3); arts, recreation, and other services increased 3.8 percent (2.5 percent in Q3), with repair and maintenance services the largest contributor. In contrast, wholesale (-0.3 percent compared to 1.3 percent in Q3) and transport, postal and warehousing (-0.7 percent compared to 3.7 percent in Q3) contracted.
 
Agriculture was down 0.8 percent (-2.9 percent in Q3), due to falling milk production and manufacturing fell 1.6 percent (1.2 percent in Q3), due to decreased food, beverage, and tobacco production.
 
Annual GDP growth for the year ended December 2016 increased to 3.1 percent from 2.5 percent in 2015.

Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com
3/15/2017 10:01:25 PM



New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.80 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.70 3.30 7.30 -2.50 percent [+]
GDP 173.75 200.14 200.14 5.18 USD Billion [+]
GDP Constant Prices 58178.00 58068.00 58178.00 26766.00 NZD Million [+]
Gross National Product 61130.00 60050.00 61130.00 25099.00 NZD Million [+]
Gross Fixed Capital Formation 14370.00 14271.00 14370.00 4071.00 NZD Million [+]
GDP per capita 36801.40 36272.47 36801.40 21659.83 USD [+]
GDP per capita PPP 35158.64 34653.33 35158.64 22888.25 USD [+]
GDP From Agriculture 3145.00 3170.00 3266.00 1804.00 NZD Million [+]
GDP From Construction 3575.00 3511.00 3575.00 1107.00 NZD Million [+]
GDP From Manufacturing 5754.00 5845.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 781.00 800.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2449.00 2455.00 2455.00 1311.00 NZD Million [+]
GDP From Services 38459.00 38191.00 38459.00 16867.00 NZD Million [+]
GDP From Transport 2450.00 2468.00 2468.00 941.00 NZD Million [+]
GDP From Utilities 1615.00 1617.00 1629.00 1040.00 NZD Million [+]


New Zealand GDP Growth Rate Notes

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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.80 2.80 -2.40 1987 - 2016 percent Quarterly



gdp growth rate by Country

Last
Turkey 3.80 Dec/16
India 1.60 Dec/16
China 1.30 Mar/17
United States 1.20 Mar/17
Australia 1.10 Dec/16
South Korea 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Canada 0.60 Dec/16
Germany 0.60 Mar/17
Euro Area 0.50 Mar/17
Japan 0.50 Mar/17
Netherlands 0.40 Mar/17
France 0.30 Mar/17
Italy 0.20 Mar/17
United Kingdom 0.20 Mar/17
Switzerland 0.10 Dec/16
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15
Brazil -0.90 Dec/16