Overall

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

Last Updated: March 29, 2024
nzl

Population

4.979 million

GDP

242.02 billion

GDP Growth Rate

2.7 %

GDP Per Capita

47226 USD

Land Size

263310 km²

TFR

1.7 Child

Unemployment Rate

3.3 %

Inflation Rate

7.2 %

What is The Overall Outlook in New Zealand ?

New Zealand - Real GDP Growth
Note: Real GDP Growth (%) | Forecast After 2023 (IMF)
Intro
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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

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.

Agriculture
5.2%
Industry
20.1%
Manufacturing
9%
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.

Social Media Development, User Demographics, Platforms, and Trends in New Zealand

Social Media Development, User Demographics, Platforms, and Trends in New Zealand

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.

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