The GDP in New Zealand advanced 2.3 percent year-on-year in the fourth quarter of 2018, easing from a 2.6 percent expansion in the previous period and below market expectations of 2.5 percent. It was the weakest growth rate since Q4 2013, mainly due to a slowdown in primary activity (0.2 percent vs 1.9 percent in Q3), of which agriculture, forestry & fishing (2.3 percent vs 3.1 percent) and mining (-11.3 percent vs -5.3 percent). Also, the service sector grew 3 percent, lower than a 3.2 percent expansion in the prior quarter, namely wholesale trade (2.4 percent vs 5.2 percent), finance & insurance (1.7 percent vs 2.7 percent), and arts, recreation & other services (1.8 percent vs 3 percent). Meanwhile, industrial activities rose further (1.2 percent vs 0.2 percent), boosted by manufacturing (1.7 percent vs 0.3 percent) and construction (1 percent vs -0.6 percent). On a quarterly basis, GDP expanded 0.6 percent, up from a 0.3 percent growth in the Q3 and matching consensus. GDP Annual Growth Rate in New Zealand averaged 2.62 percent from 1988 until 2018, reaching an all time high of 7.30 percent in the third quarter of 1993 and a record low of -2.30 percent in the first quarter of 2009.

GDP Annual Growth Rate in New Zealand is expected to be 2.70 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 2.70 in 12 months time. In the long-term, the New Zealand GDP Annual Growth Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

New Zealand GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-06-20 10:45 PM GDP Growth Rate YoY 2.7% 2.9% 2.7% 3.2%
2018-09-19 10:45 PM GDP Growth Rate YoY 2.8% 2.6% 2.5% 2.5%
2018-12-19 09:45 PM GDP Growth Rate YoY 2.6% 3.2% 2.8% 2.80%
2019-03-20 09:45 PM GDP Growth Rate YoY 2.3% 2.6% 2.5% 2.7%
2019-06-19 10:45 PM GDP Growth Rate YoY 2.3% 2.7%
2019-09-19 10:45 PM GDP Growth Rate YoY 3.1%
2019-12-19 09:45 PM GDP Growth Rate YoY 2.5%


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 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. 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 - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.30 2.60 7.30 -2.30 1988 - 2018 percent Quarterly




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.18 Dec/18
Saudi Arabia 3.60 Dec/18
United States 3.00 Dec/18
Russia 2.70 Dec/18
Australia 2.30 Dec/18
Spain 2.30 Dec/18
Netherlands 2.20 Dec/18
South Korea 1.80 Mar/19
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
United Kingdom 1.40 Dec/18
Singapore 1.30 Mar/19
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 1.00 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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