The New Zealand economy advanced 0.6 percent on quarter in the fourth quarter of 2018, following a 0.3 percent expansion in the previous period and matching market forecasts. The services sector grew 0.9 percent, faster than a 0.5 percent expansion in the third quarter, mainly driven by retail trade & accommodation (2.5 percent vs 0.6 percent in Q3), transport (3.2 percent vs 0.1 percent), real estate (1.1 percent vs 0.2 percent), public administration (1.8 percent vs 1.5 percent) and information & communication (1.6 percent vs -0.3 percent). Also, industrial activities expanded 0.2 percent (vs -0.9 percent in Q3), boosted by construction (1.8 percent vs -0.6 percent). In contrast, the primary sector shrank 0.8 percent (vs 2.3 percent in Q3), of which agriculture (-0.6 percent vs 0.8 percent) and mining (-1.7 percent vs 12.7 percent). Year-on-year, the economy grew 2.3 percent, slowing from 2.6 percent in the prior quarter, recording the weakest growth rate since Q4 2013. GDP Growth Rate in New Zealand averaged 0.64 percent from 1987 until 2018, reaching an all time high of 2.80 percent in the third quarter of 1999 and a record low of -2.40 percent in the first quarter of 1991.

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 0.80 in 12 months time. In the long-term, the New Zealand GDP Growth Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.

New Zealand GDP Growth Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-06-20 10:45 PM GDP Growth Rate QoQ 0.5% 0.6% 0.5% 0.7%
2018-09-19 10:45 PM GDP Growth Rate QoQ 1% 0.5% 0.7% 0.7%
2018-12-19 09:45 PM GDP Growth Rate QoQ 0.3% 1% 0.6% 0.8%
2019-03-20 09:45 PM GDP Growth Rate QoQ 0.6% 0.3% 0.6% 0.7%
2019-06-19 10:45 PM GDP Growth Rate QoQ 0.6% 0.6%
2019-09-19 10:45 PM GDP Growth Rate QoQ 0.7%
2019-12-19 09:45 PM GDP Growth Rate QoQ 0.8%


New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.30 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.30 2.60 7.30 -2.30 percent [+]
GDP 205.85 189.29 205.85 5.18 USD Billion [+]
GDP Constant Prices 62259.00 61925.00 62259.00 26757.00 NZD Million [+]
Gross National Product 65236.00 65171.00 65236.00 25092.00 NZD Million [+]
Gross Fixed Capital Formation 15414.00 15194.00 15441.00 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 3382.00 3382.00 1804.00 NZD Million [+]
GDP From Construction 3777.00 3708.00 3777.00 1108.00 NZD Million [+]
GDP From Manufacturing 6017.00 6042.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 728.00 741.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2723.00 2676.00 2723.00 1311.00 NZD Million [+]
GDP From Services 41994.00 41609.00 41994.00 16791.00 NZD Million [+]
GDP From Transport 2947.00 2854.00 2947.00 941.00 NZD Million [+]
GDP From Utilities 1681.00 1700.00 1737.00 1040.00 NZD Million [+]


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. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.30 2.80 -2.40 1987 - 2018 percent Quarterly




Country Last Previous
United States 2.20 Dec/18
Singapore 2.00 Mar/19
Saudi Arabia 1.60 Sep/18
India 1.50 Sep/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Russia 0.80 Dec/18
Spain 0.60 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


Related

Latest