New Zealand’s economy contracted by 3.7 percent on quarter in the three months to September 2021, after an upwardly revised 2.8 percent expansion in Q2 and above expectations of a 4.5 percent decrease. It was the 2nd largest fall recorded since 1986, as a result of covid-19 alert level restrictions and nationwide lockdown implemented in the second half of the quarter. Among industries, goods-producing plunged 7.3 percent, primary industries dropped 3.1 percent, and services fell 2.7 percent. source: Statistics New Zealand

GDP Growth Rate in New Zealand averaged 0.62 percent from 1987 until 2021, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -9.90 percent in the second quarter of 2020. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

GDP Growth Rate in New Zealand is expected to be 1.20 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 Growth Rate is projected to trend around 1.30 percent in 2022 and 4.00 percent in 2023, according to our econometric models.

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New Zealand GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-15 10:45 PM Q2 2.8% 1.4% 1.3% 1.4%
2021-12-15 09:45 PM Q3 -3.7% 2.8% -4.5% -3.9%
2022-03-16 09:45 PM Q4 -3.7%


Related Last Previous Unit Reference
GDP Growth Rate -3.70 2.80 percent Sep/21
GDP Annual Growth Rate -0.30 17.90 percent Sep/21
GDP Constant Prices 66502.00 69724.00 NZD Million Sep/21
Gross National Product 71848.00 74252.00 NZD Million Sep/21
Gross Fixed Capital Formation 15907.00 16766.00 NZD Million Sep/21
GDP From Utilities 1776.00 1705.00 NZD Million Sep/21
GDP From Transport 2607.00 2584.00 NZD Million Sep/21
GDP From Services 44484.00 45429.00 NZD Million Sep/21
GDP From Public Administration 3148.00 3079.00 NZD Million Sep/21
GDP From Mining 663.00 656.00 NZD Million Sep/21
GDP From Manufacturing 5801.00 6397.00 NZD Million Sep/21
GDP From Construction 4213.00 4463.00 NZD Million Sep/21
GDP From Agriculture 3433.00 3477.00 NZD Million Sep/21

News Stream
New Zealand GDP Contracts Less than Expected
New Zealand’s economy contracted by 3.7 percent on quarter in the three months to September 2021, after an upwardly revised 2.8 percent expansion in Q2 and above expectations of a 4.5 percent decrease. It was the 2nd largest fall recorded since 1986, as a result of covid-19 alert level restrictions and nationwide lockdown implemented in the second half of the quarter. Among industries, goods-producing plunged 7.3 percent, primary industries dropped 3.1 percent, and services fell 2.7 percent.
2021-12-15
New Zealand GDP Expands More than Expected
New Zealand’s economy grew by 2.8 percent on quarter in the three months to June 2021, after a 1.4 percent expansion in Q1 and beating expectations of a 1.3 percent rise. Growth was led by the services industries (2.8 percent vs 1.1 percent in Q1); and both the primary (5 percent vs 1.2 percent) and goods-producing industries (1.3 percent vs 1.7 percent) also contributed to growth in the quarter. Retail trade and accommodation was the largest contributor to GDP growth in the June 2021 quarter, driven by higher activity in accommodation and food services. Exports of services rose by 63 percent driven by exports of travel services, transport services, other business services, and also film exports. However, exports of services remain significantly affected by international travel restrictions due to COVID-19 and are still 43.0 percent below the levels of the December 2019 quarter.
2021-09-15
New Zealand GDP Growth Beats Forecasts
New Zealand’s GDP expanded 1.6 percent on quarter in the three months to March 2021 following a revised 1.0 percent contraction in the previous period and compared to market expectations of a 0.5 percent gain. The services industries, which represent about two thirds of New Zealand's economy, grew 1.1 percent after rising 0.2 percent in the previous quarter. Also, both primary (0.3 percent vs -0.8 percent) and goods-producing industries (2.4 percent vs -3.1 percent) rebounded. On an annual basis, GDP expanded 2.4 percent after a 0.8 percent contraction.
2021-06-16

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.