The GDP in New Zealand 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. The uptick against Q1 was mainly explained by wholesale trade (+4.9 percent vs +4.1 percent in Q1), financial & insurance services (+2.8 percent vs +1.4 percent), construction (+3.6 percent vs +2.3 percent in Q1) and utilities (+2.8 percent vs -1.2 percent). Agriculture (+1.6 percent vs -1.9 percent), information media & telecommunications (+4.8 percent vs +4.2 percent) and transport (+5.3 percent vs 6.9 percent) also increased solidly. In contrast, mining extended its sharp contraction (-18.8 percent vs -0.4 percent). On a quarterly basis, GDP expanded 1.0 percent, up from 0.5 percent in the previous quarter and above expectations of 0.7 percent. It was the largest quarterly rise in two years, as 15 of the 16 industries expanded. GDP Annual Growth Rate in New Zealand averaged 2.61 percent from 1988 until 2018, reaching an all time high of 7.30 percent in the third quarter of 1993 and a record low of -2.40 percent in the first quarter of 2009.

New Zealand GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-03-14 09:45 PM GDP Growth Rate YoY 2.9% 3.0% 3.1% 2.5%
2018-06-20 10:45 PM GDP Growth Rate YoY 2.7% 2.9% 2.7% 3.2%
2018-09-19 10:45 PM GDP Growth Rate YoY 2.8% 2.6% 2.5% 2.5%
2018-12-19 09:45 PM GDP Growth Rate YoY 2.8% 2.80%


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 Annual Growth Rate

In New Zealand, services are the biggest sector of the economy and account for 75 percent of total GDP. Within services the most important segments are: 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. Within industry, manufacturing represents 13 percent of GDP while construction 4 percent. The remaining 8 percent is contributed by agriculture, fishing, forestry and mining. 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 - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.60 7.30 -2.40 1988 - 2018 percent Quarterly




Country Last
India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
Indonesia 5.17 Sep/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
United States 3.00 Sep/18
Mexico 2.60 Sep/18
Singapore 2.60 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Euro Area 1.70 Sep/18
Saudi Arabia 1.61 Jun/18
France 1.50 Sep/18
United Kingdom 1.50 Sep/18
Russia 1.30 Sep/18
Germany 1.10 Sep/18
Brazil 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Japan 0.30 Sep/18
Argentina -4.20 Jun/18


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