New Zealand GDP Growth Rate

Last Release

Dec 31, 2022

Actual

-0.6

Units In

Frequency

Quarterly

Next Release

Sep 17, 2025

Time to Release

2 Months 28 Days 9 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 expanded by 0.8% quarter-on-quarter in the first quarter of 2025, accelerating from 0.5% growth in the previous period and slightly beating market expectations of 0.7%. This marked the second consecutive quarter of growth following two quarters of contraction. Economic activity increased across all three major industry groups, with the strongest gains seen in manufacturing (+2.4% vs. +0.1% in Q4), followed by professional, scientific, technical, administrative, and support services (+2.4% vs. -0.1%), and agriculture, forestry, and fishing (+0.8%, unchanged). Construction rebounded with a 0.5% gain after a 3.6% drop in the previous quarter, while mining also returned to growth at +1% following a -1% decline. However, some sectors posted declines, including arts and recreation services (-1.9% vs. +1.3%) and information, media, and telecommunications (-0.8% vs. -2.9%). On an annual basis, GDP contracted by 0.7% in Q1, following a 1.3% decline in Q4.