New Zealand GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

2.2

Units In

6.4

Frequency

Quarterly

Next Release

Sep 17, 2025

Time to Release

2 Months 28 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
17.9 Jun 2021	-10.2 Jun 2020	2.61 %	1988-2022	Statistics New Zealand

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.

Latest Updates

New Zealand’s economy contracted by 0.7% year-on-year in the first quarter of 2025, slightly better than market expectations of a 0.8% decline, following a 1.3% drop in the previous quarter. The annual downturn was mainly driven by a 3.1% contraction in goods-producing industries, though this marked an improvement from the 5.6% decline recorded in Q4. Service industries stagnated, posting no growth after a modest 0.1% rise in the prior quarter, while primary industries expanded by 1.7%, slightly up from 1.5% previously. Despite the annual weakness, the economy showed resilience on a quarterly basis, with GDP growing 0.8% in Q1, up from 0.5% in Q4. This marked the second straight quarter of quarterly growth, suggesting a gradual recovery is underway.