New Zealand’s economy expanded by 1.2 percent from a year earlier in the first quarter of 2022, slowing from a 3.1 percent rise in the previous period. On a quarterly basis, the GDP shrank by 0.2 percent in the three months to March, after rising 3 percent in the previous quarter. The change in economic activity came in a quarter marked by the community spread of the Omicron COVID-19 variant. The March 2022 quarter included low travel due to border restrictions. However, there were fewer domestic restrictions than in previous quarters. source: Statistics New Zealand

GDP Annual Growth Rate in New Zealand averaged 2.61 percent from 1988 until 2022, reaching an all time high of 17.90 percent in the second quarter of 2021 and a record low of -10.20 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 June of 2022.

GDP Annual Growth Rate in New Zealand is expected to be 0.30 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 Annual Growth Rate is projected to trend around 2.00 percent in 2023 and 2.40 percent in 2024, according to our econometric models.

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New Zealand GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-16 09:45 PM Q4 3.1% -0.2% 3.3% 2.6%
2022-06-15 10:45 PM Q1 1.2% 3.1% 1.2%
2022-09-14 10:45 PM Q2 1.2%


Related Last Previous Unit Reference
GDP Growth Rate -0.20 3.00 percent Mar 2022
GDP Annual Growth Rate 1.20 3.10 percent Mar 2022
GDP Constant Prices 68460.00 68504.00 NZD Million Mar 2022
Gross National Product 77152.00 74753.00 NZD Million Mar 2022
Gross Fixed Capital Formation 17995.00 17776.00 NZD Million Mar 2022
GDP From Utilities 1800.00 1807.00 NZD Million Mar 2022
GDP From Transport 2491.00 2562.00 NZD Million Mar 2022
GDP From Services 45780.00 45765.00 NZD Million Mar 2022
GDP From Public Administration 3176.00 3168.00 NZD Million Mar 2022
GDP From Mining 524.00 576.00 NZD Million Mar 2022
GDP From Manufacturing 6068.00 6154.00 NZD Million Mar 2022
GDP From Construction 4654.00 4578.00 NZD Million Mar 2022
GDP From Agriculture 3315.00 3323.00 NZD Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.20 3.10 17.90 -10.20 1988 - 2022 percent Quarterly

News Stream
New Zealand GDP Growth Slows in Q1
New Zealand’s economy expanded by 1.2 percent from a year earlier in the first quarter of 2022, slowing from a 3.1 percent rise in the previous period. On a quarterly basis, the GDP shrank by 0.2 percent in the three months to March, after rising 3 percent in the previous quarter. The change in economic activity came in a quarter marked by the community spread of the Omicron COVID-19 variant. The March 2022 quarter included low travel due to border restrictions. However, there were fewer domestic restrictions than in previous quarters.
2022-06-15
New Zealand GDP Growth Picks Up in Q4
New Zealand’s economy expanded 3% from a year earlier in the fourth quarter of 2021, from a downwardly revised 0.2% contraction in the prior period and below market expectations of a 3.3% increase. The economy expanded amid looser Covid-19 restrictions throughout the country, in sharp contrast with the previous quarter. On a quarterly basis, the economy grew 3 percent in the three months leading to December, after contracting 3.6 percent in the prior quarter. Considering the full 2021, the Kiwi economy contracted 1.4 percent, compared to the 2.2 percent increase in 2020, despite the pandemic.
2022-03-16
New Zealand GDP Growth Eases From Record Pace
New Zealand’s economy fell 0.3 percent from a year earlier in the third quarter of 2021, easing from an upwardly revised 17.9 percent expansion in the previous period and above market expectations of a 1.6 percent drop. The economy contracted amid new restrictions and nationwide lockdown implemented in the second half of the quarter. On a quarterly basis, the economy dropped 3.7 percent in the three months to September, after a 2.8 percent rise in Q2 and above expectations of a 4.5 percent fall.
2021-12-15