New Zealand’s GDP expanded 0.7 percent on quarter in the three months to September 2019, up from a 0.1 percent advance in the previous period to beat market expectations of a 0.6 percent rise. It was the fastest quarterly growth rate since the last quarter of 2018, nudged by retail activity (2.4 percent vs 0.8 percent in Q2), amid higher spending on electronics such as appliances, mobile phones, and computers. Other significant positive contributions came from information & communication (2.7 percent vs 0.6 percent); professional, scientific, technical, admin, and support (0.7% after showing no growth); manufacturing (0.6 percent vs -1.0 percent); construction (0.6 percent vs -0.9 percent) and agriculture (1.5 percent vs 0.1 percent). On annual basis, activity rose 2.3 percent following a 2.1 percent expansion.

GDP Growth Rate in New Zealand averaged 0.64 percent from 1987 until 2019, 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. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics New Zealand

GDP 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. Looking forward, we estimate GDP Growth Rate in New Zealand to stand at 0.70 in 12 months time. In the long-term, the New Zealand GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.60 percent in 2022, according to our econometric models.


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New Zealand GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.10 2.80 -2.40 1987 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-03-20 09:45 PM Q4 0.6% 0.3% 0.6% 0.7%
2019-06-19 10:45 PM Q1 0.6% 0.6% 0.6% 0.6%
2019-09-18 10:45 PM Q2 0.5% 0.6% 0.4% 0.5%
2019-12-18 09:45 PM Q3 0.7% 0.1% 0.6% 0.6%
2020-03-18 09:45 PM Q4 0.7% 0.5%
2020-06-17 10:45 PM Q1 0.3%
2020-09-18 10:45 PM Q2 0.5%
2020-12-18 09:45 PM Q3 0.7%


News Stream
New Zealand Q3 GDP Growth Beats Forecasts
New Zealand’s GDP expanded 0.7 percent on quarter in the three months to September 2019, up from a 0.1 percent advance in the previous period to beat market expectations of a 0.6 percent rise. It was the fastest quarterly growth rate since the last quarter of 2018, nudged by retail activity (2.4 percent vs 0.8 percent in Q2), amid higher spending on electronics such as appliances, mobile phones, and computers. Other significant positive contributions came from information & communication (2.7 percent vs 0.6 percent); professional, scientific, technical, admin, and support (0.7% after showing no growth); manufacturing (0.6 percent vs -1.0 percent); construction (0.6 percent vs -0.9 percent) and agriculture (1.5 percent vs 0.1 percent). On annual basis, activity rose 2.3 percent following a 2.1 percent expansion.
2019-12-18
New Zealand Q2 GDP Growth Beats Forecasts
The New Zealand economy advanced 0.5 percent on quarter in the three months to June 2019, slowing from a 0.6 percent expansion in the previous period but beating market expectations of 0.4 percent. The services sector, which represents about two-thirds of the economy, was the main contributor to GDP, increasing 0.7 percent (vs 0.3 percent in Q1), of which retail trade & accommodation (0.7 percent vs -0.6 percent); transport, postal & warehousing (1.8 percent vs 1.2 percent); and financial & insurance services (0.8 percent vs 0.7 percent). Also, primary industries rose 0.7 percent, rebounding from a 0.5 percent contraction, driven by agriculture, forestry & fishing (1.6 percent vs -2 percent). Meanwhile, the secondary sector shrank 0.2 percent (vs 1.9 percent in Q1), due to manufacturing (-0.8 percent vs 1.2 percent) and construction (-0.8 percent vs 1.9 percent). On a yearly basis, the GDP advanced 2.1 percent, easing from a 2.5 percent expansion in Q1.
2019-09-18
New Zealand GDP Growth Rate Steady at 0.6% QoQ
The New Zealand economy advanced 0.6 percent on quarter in the first three months of 2019, matching a 0.6 percent expansion in the previous period and market forecasts. Construction was the main contributor to GDP growth this quarter, rising 3.7 percent, up from a 2.2 percent increase in the previous quarter, with both residential and non-residential buildings rising. In contrast, services edged up 0.2 percent, dragged by falls in retail trade and accommodation; rental, hiring, and real estate services; and information media and telecommunications. Meantime, manufacturing rebounded 1.4 percent after shrinking 0.4 percent and utilities rebounded 0.1 percent following a 0.6 percent contraction. On a yearly basis, GDP advanced 2.5 percent year-on-year in the first quarter of 2019, matching the upwardly revised 2.5 expansion of the previous period (original: 2.3 percent) and slightly above expectations of 2.5 percent.
2019-06-19
New Zealand Economy Grows 0.6% QoQ in Q4
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.
2019-03-21

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.