Overall

The Economy of New Zealand in 2023 - Industry & Market Trends

Last Updated: March 29, 2024

What is The Overall Outlook in New Zealand ?

New Zealand - Real GDP Growth

Note: Real GDP Growth (%) | Forecast After 2023 (IMF)

Intro

About OOSGA

OOSGA is a Taiwan-based company specializing in providing market strategy services for businesses. We are dedicated to offering our clients reliable market intelligence and insights and work alongside them through our project teams to enter & grow in new markets.

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Economic Structure

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption

58.1%

Gov Expenditure

21.2%

Capital Formation

25.9%

Export

23.9%

Import

29.6%

Economic Growth（By Type）

Note: Real GDP Growth (%) | Forecast After 2023 (EIU)

Overall Economic Outlook in New Zealand?

Population

4.979 million

Land Size

263310 km²

GDP

242.02 billion

GDP Per Capita

47226 USD

Unemployment

3.3 %

Inflation

7.2 %

Urbanization

86.6 %

TFR

1.7 Child

GDP Per Capita

Note: Real Growth (%) | Forecast After 2023 (IMF)

GDP Per Capita (PPP)

Note: Real Growth (%) | Forecast After 2023 (IMF)

Unemployment Rate

Note: %

Inflation Rate

Note: %

Other Economies

Industry Structure

Agriculture

5.2%

Industry

20.1%

Manufacturing

Service

74.7%

Economic Growth（By Sector）

Note: Real GDP Growth (%) | Forecast After 2023 (EIU)

Demographics Overview

Population +

43 k people

Birth

64 k people

Death

34 k people

Net Migration

13 k people

New Zealand - Population Growth Drivers

Note: % | forecast after 2023

New Zealand - Age Structure - Historical & Forecast

Note: % | forecast after 2023

Natural Growth

5.8 ‰

Net Migration

2.5 ‰

Young Dependency

30.1 %

Old Dependency

26.2 %

New Zealand - Median Age

Note: Age

New Zealand - Demographic Structure

Source: UN Population; OOSGA Analytics

Political Overveiw

New Zealand - Government Spending (% of GDP)

Note: （%）｜2023後為預測（IMF）

Current Account Balance

-21.87 Billion

Current Account Balance (% of GDP)

-9 %

Gov Net Landing/Borrowing（% of GDP）

-3.5 %

Gov Gross Debt（% of GDP）

46.4 %

New Zealand - Current Account Balance

note: (% of GDP) | Forecast After 2023

New Zealand - Gross Debt

note: (% of GDP) | Forecast After 2023

Consumer Brief

We have consolidated data on New Zealand’s e-commerce, social media, and insights relate to how customers in New Zealand make decisions and spend.

E-Commerce

Social Media Development, User Demographics, Platforms, and Trends in Japan

Social Media

Social Media Development, User Demographics, Platforms, and Trends in Japan

Reference

Economic Data：OECD, World Bank, IMF、Government Statistics Bureau
Currency Exchange：Based on IMF data in 2023/1
GDP Growth Projection：OECD、IMF, OECD, EIU、Government Bureau
Demographics：UN Population Database
Race, Culture, and Languages：CIA Factbook
Unemployment Rate Projection：ILO, UNECE
Trade：UN Comtrade, UNCTD
ICT Infrastructure：ITU
Data Calculation & Regression：OOSGA.org
Analysis：OOSGA Analytics

Author: Economic Team, CR Team

We track the latest economic developments from spending, retail, real estate to demographics in major economics around the world.

The Economy of New Zealand in 2023 - Industry & Market Trends