New Zealand's GDP changed from approximately $22B 559M in 1980 to $257B 625M in 2024, showing an overall 1042.0% sharply increased during the period.
The lowest GDP was recorded in 1984 at $22B 385M, and the highest in 2024 at $257B 625M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.7%.
For comparison, the average annual growth rate of Australia was 5.6%, and that of Fiji was 3.5%.
Overview of New Zealand's GDP (1980–2024)
The Gross Domestic Product (GDP) of New Zealand recorded a 1042.0% sharply increased from 1980 to 2024.
The average GDP during this period was $108B 293M, and the median was $69B 101M.
GDP fluctuated within a range of $235B 240M, with a standard deviation of $76B 710M.
The average annual change was $5B 604M.
New Zealand GDP from 1980 to 2024
The total market value of goods and services produced annually in New Zealand.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1984, $22B 385M
- Highest GDP: 2024, $257B 625M
- Most Recent GDP: 2024, $257B 625M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and New Zealand's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $210B 762M → $210B 257M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $134B 876M → $121B 701M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $54B 127M → $53B 129M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $68B 867M → $56B 816M
- Outcome: sharply declined
Key Economic Indicators of New Zealand (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 22B 559M | $ 7,257.48 | $ 9,176.28 | $ 28B 523M | 1.009 % | -4.003 % | 14.66 % | 0 % | 3M 108K people |
1981 | $ 23B 479M | $ 7,514.06 | $ 10,287.72 | $ 32B 146M | 2.961 % | -4.924 % | 13.23 % | 0 % | 3M 125K people |
1982 | $ 23B 245M | $ 7,381.33 | $ 11,150.80 | $ 35B 115M | 2.878 % | -7.356 % | 12.80 % | 0 % | 3M 149K people |
1983 | $ 22B 492M | $ 7,074.64 | $ 11,463.46 | $ 36B 445M | -0.124 % | -4.35 % | 20.38 % | 0 % | 3M 179K people |
1984 | $ 22B 385M | $ 6,970.85 | $ 12,565.29 | $ 40B 350M | 6.858 % | -8.836 % | 19.59 % | 0 % | 3M 211K people |
1985 | $ 22B 546M | $ 6,953.64 | $ 12,993.75 | $ 42B 130M | 1.213 % | -6.614 % | 19.10 % | -1.382 % | 3M 242K people |
1986 | $ 27B 437M | $ 8,385.75 | $ 13,373.64 | $ 43B 757M | 1.81 % | -5.612 % | 19.73 % | -0.518 % | 3M 272K people |
1987 | $ 36B 990M | $ 11,205.85 | $ 13,915.04 | $ 45B 933M | 2.436 % | -4.017 % | 19.08 % | 1.627 % | 3M 301K people |
1988 | $ 45B 520M | $ 13,663.59 | $ 14,353.20 | $ 47B 817M | 0.555 % | -0.33 % | 20.07 % | 3.553 % | 3M 331K people |
1989 | $ 44B 22M | $ 13,079 | $ 14,826.87 | $ 49B 905M | 0.428 % | -3.013 % | 19.56 % | 3.788 % | 3M 366K people |
1990 | $ 45B 799M | $ 13,447.63 | $ 15,204.85 | $ 51B 784M | 0.021 % | -2.853 % | 17.70 % | 3.819 % | 3M 406K people |
1991 | $ 43B 435M | $ 12,424.80 | $ 15,111.80 | $ 52B 828M | -1.322 % | -2.394 % | 15.60 % | 1.362 % | 3M 496K people |
1992 | $ 41B 520M | $ 11,751.98 | $ 15,401.09 | $ 54B 412M | 0.704 % | -3.676 % | 15.50 % | 1.593 % | 3M 533K people |
1993 | $ 44B 805M | $ 12,537.73 | $ 16,401.38 | $ 58B 612M | 5.225 % | -3.314 % | 17.66 % | 5.815 % | 3M 574K people |
1994 | $ 52B 920M | $ 14,612.42 | $ 17,452.44 | $ 63B 206M | 5.583 % | -3.154 % | 18.94 % | 8.637 % | 3M 622K people |
1995 | $ 62B 241M | $ 16,932.66 | $ 18,414.53 | $ 67B 688M | 4.893 % | -3.952 % | 19.41 % | 9.873 % | 3M 676K people |
1996 | $ 69B 101M | $ 18,506.44 | $ 19,212.10 | $ 71B 736M | 4.075 % | -4.721 % | 18.33 % | 7.867 % | 3M 734K people |
1997 | $ 68B 867M | $ 18,206.15 | $ 19,763.75 | $ 74B 758M | 2.447 % | -5.204 % | 18.68 % | 5.676 % | 3M 783K people |
1998 | $ 56B 816M | $ 14,889.75 | $ 19,893.38 | $ 75B 909M | 0.411 % | -2.782 % | 18.18 % | 3.468 % | 3M 816K people |
1999 | $ 58B 898M | $ 15,348.78 | $ 20,961.21 | $ 80B 434M | 4.483 % | -5.002 % | 18.13 % | 2.339 % | 3M 837K people |
