New Zealand GDP Growth Rate

Last Release

Dec 31, 2022

Actual

-0.6

Units In

Frequency

Quarterly

Next Release

Dec 17, 2025

Time to Release

2 Months 28 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
13.9 Sep 2020	-9.9 Jun 2020	0.64 %	1987-2022	Statistics New Zealand

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.

Latest Updates

New Zealand’s economy contracted by 0.9% quarter-on-quarter in Q2 2025, reversing an upwardly revised 0.8% expansion in the previous quarter and exceeding market expectations of a 0.2% decline. This downturn ended two straight quarters of growth that followed back-to-back contractions. By industry, primary output fell 0.3% (vs. +0.5% in Q1), while goods-producing industries dropped (-3.5% vs. +2.4% in Q1), led by steep declines in mining (-4.1% vs. +1%) and manufacturing (-2.4% vs. +0.1%). The services sector was broadly flat, with notable declines in transport, postal and warehousing (-0.6% vs. +0.6%), healthcare and social assistance (-0.7% vs. +1.7%), and financial and insurance services (-0.5% vs. -0.5%). In contrast, wholesale trade (+1.4% vs. -0.4%), information media and telecommunications (+1.8% vs. -0.8%), and rental, hiring and real estate services (+0.7% vs. +0.3%) posted gains. On an annual basis, GDP contracted 0.6% in Q2, matching the pace of decline in the first quarter.