New Zealand’s economy grew 2.4 percent from a year earlier in the first quarter of 2021, rebounding from a revised 0.8 percent contraction in the previous period and compared to market expectations of a 0.9 percent increase. It was the strongest expansion since the third quarter of 2019, as both goods-producing industries (5.1 percent vs -0.4 percent in Q4) and services industries rebounded (1.8 percent vs -0.4 percent). Also, primary industries output dropped at a softer pace (-2.6 percent vs -3.0 percent). On a quarterly basis, the economy expanded 1.6 percent in the first three months of 2021 after contracting a revised 1.0 percent in the prior quarter, beating market expectations of a 0.5 percent increase. source: Statistics New Zealand
GDP Annual Growth Rate in New Zealand averaged 2.46 percent from 1988 until 2021, reaching an all time high of 7.30 percent in the third quarter of 1993 and a record low of -11.20 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Annual Growth Rate in New Zealand is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in New Zealand to stand at 2.00 in 12 months time. In the long-term, the New Zealand GDP Annual Growth Rate is projected to trend around 3.50 percent in 2022 and 2.80 percent in 2023, according to our econometric models.