The Gross Domestic Product (GDP) in New Zealand expanded 0.90 percent in the second quarter of 2023 over the previous quarter. GDP Growth Rate in New Zealand averaged 0.65 percent from 1986 until 2023, reaching an all time high of 13.80 percent in the third quarter of 2020 and a record low of -10.50 percent in the second quarter of 2020. 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.
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