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. 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 -12.20 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 August of 2021.
GDP Growth Rate in New Zealand is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in New Zealand to stand at 1.00 in 12 months time. In the long-term, the New Zealand GDP Growth Rate is projected to trend around 1.00 percent in 2022, according to our econometric models.