World Factbook

New Zealand

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$83.167 billion (2022 est.)

expenditures

$91.782 billion (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$57.485 billion (2022 est.)

Exports 2023

$59.029 billion (2023 est.)

Exports 2024

$61.799 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$71.35 billion (2022 est.)

Imports 2023

$68.412 billion (2023 est.)

Imports 2024

$67.998 billion (2024 est.)

Industries

agriculture, forestry, fishing, logs and wood articles, manufacturing, mining, construction, financial services, real estate services, tourism

Labor force

3.124 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2022

54% of GDP (2022 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

0.3% of GDP (2021 est.)

Remittances 2022

0.2% of GDP (2022 est.)

Remittances 2023

0.3% of GDP (2023 est.)

Exchange rates

Currency

New Zealand dollars (NZD) per US dollar -

Exchange rates 2020

1.542 (2020 est.)

Exchange rates 2021

1.414 (2021 est.)

Exchange rates 2022

1.577 (2022 est.)

Exchange rates 2023

1.628 (2023 est.)

Exchange rates 2024

1.652 (2024 est.)

Economic overview

high-income, globally integrated Pacific island economy; strong agriculture, manufacturing, and tourism sectors; reliant on Chinese market for exports; recovery trajectory following deep post-pandemic recession; challenges of fiscal deficits, below-average productivity, cost of living, and drop in net migration

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3.3% (2022 est.)

Unemployment rate 2023

3.8% (2023 est.)

Unemployment rate 2024

4.9% (2024 est.)

Exports - partners

China 28%, USA 12%, Australia 12%, Japan 6%, S. Korea 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 20%, Australia 11%, USA 9%, S. Korea 7%, Japan 7% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$49,600 (2022 est.)

Real GDP per capita 2023

$49,100 (2023 est.)

Real GDP per capita 2024

$48,200 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

3.5% (2022 est.)

Real GDP growth rate 2023

1.4% (2023 est.)

Real GDP growth rate 2024

-0.1% (2024 est.)

Agricultural products

milk, beef, kiwifruit, apples, grapes, lamb/mutton, potatoes, wheat, barley, chicken (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

milk, wood, beef, butter, sheep and goat meat (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, gas turbines, broadcasting equipment, trucks (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$21.627 billion (2022 est.)

Current account balance 2023

-$17.065 billion (2023 est.)

Current account balance 2024

-$15.978 billion (2024 est.)

Taxes and other revenues

29.6% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$260.236 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

57.5% (2022 est.)

government consumption

20.9% (2022 est.)

investment in inventories

0.9% (2022 est.)

investment in fixed capital

25.4% (2022 est.)

exports of goods and services

24% (2022 est.)

imports of goods and services

-29.4% (2022 est.)

Average household expenditures

on food

12.8% of household expenditures (2023 est.)

on alcohol and tobacco

4.7% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

7.2% (2022 est.)

Inflation rate (consumer prices) 2023

5.7% (2023 est.)

Inflation rate (consumer prices) 2024

2.9% (2024 est.)

Industrial production growth rate

-1% (2023 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$253.903 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$257.443 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$257.117 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

14.6% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

14.3% (2024 est.)

female

14% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$14.4 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$15.487 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$22.065 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

19.6% (2022 est.)

services

67.4% (2022 est.)

agriculture

4.6% (2022 est.)