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. 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.

GDP Growth Rate in New Zealand is expected to be 0.70 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 1.00 percent in 2020, according to our econometric models.

New Zealand GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-19 10:45 PM GDP Growth Rate QoQ Q2 1% 0.5% 0.7% 0.7%
2018-12-19 09:45 PM GDP Growth Rate QoQ Q3 0.3% 1% 0.6% 0.8%
2019-03-20 09:45 PM GDP Growth Rate QoQ Q4 0.6% 0.3% 0.6% 0.7%
2019-06-19 10:45 PM GDP Growth Rate QoQ Q1 0.6% 0.6% 0.6% 0.6%
2019-09-18 10:45 PM GDP Growth Rate QoQ Q2 0.6% 0.7%
2019-12-18 09:45 PM GDP Growth Rate QoQ Q3 0.8%


New Zealand GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.60 2.80 -2.40 percent [+]
GDP Annual Growth Rate 2.50 2.50 7.30 -2.30 percent [+]
GDP 205.02 202.59 205.02 5.18 USD Billion [+]
GDP Constant Prices 62800.00 62282.00 62800.00 26747.00 NZD Million [+]
Gross National Product 65340.00 65236.00 65340.00 25092.00 NZD Million [+]
Gross Fixed Capital Formation 15758.00 15414.00 15758.00 4063.00 NZD Million [+]
GDP per capita 38000.70 37678.40 38000.70 20073.00 USD [+]
GDP per capita PPP 36354.79 36046.39 36354.79 22651.10 USD [+]
GDP From Agriculture 3331.00 3410.00 3422.00 1804.00 NZD Million [+]
GDP From Construction 3930.00 3777.00 3930.00 1108.00 NZD Million [+]
GDP From Manufacturing 6116.00 6017.00 6266.00 3968.00 NZD Million [+]
GDP From Mining 816.00 728.00 1187.00 437.00 NZD Million [+]
GDP From Public Administration 2744.00 2723.00 2744.00 1311.00 NZD Million [+]
GDP From Services 42107.00 41994.00 42107.00 16791.00 NZD Million [+]
GDP From Transport 2979.00 2947.00 2979.00 941.00 NZD Million [+]
GDP From Utilities 1689.00 1681.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.60 2.80 -2.40 1987 - 2019 percent Quarterly




Country Last Previous
Indonesia 4.20 Jun/19
United States 2.10 Jun/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
South Korea 1.10 Jun/19
Saudi Arabia 1.07 Dec/18
Switzerland 0.60 Mar/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Australia 0.40 Mar/19
Japan 0.40 Jun/19
Euro Area 0.20 Jun/19
France 0.20 Jun/19
Canada 0.10 Mar/19
Mexico 0.10 Jun/19
Italy 0.00 Jun/19
Germany -0.10 Jun/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
United Kingdom -0.20 Jun/19
Russia -0.40 Mar/19
South Africa -3.20 Mar/19
Singapore -3.30 Jun/19


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