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Indicators of economy in New Zealand

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in New Zealand, on the other hand, reached USD 48,781 per capita, or 249.89 billion USD for the whole country. New Zealand is therefore currently ranked 49 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then New Zealand ranks 29th in the list of the richest countries.

Inflation in New Zealand in 2022 was around 7.17%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 87, which is above average by global standards.


Back to overview: New Zealand

Impact of the COVID-19 pandemic

Overall, the gross domestic product in New Zealand in 2020 decreased moderatly from 213.43 billion US dollars to 211.73 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 0.80 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 4.1 to 4.6 percent. The country's gross debt increased by 32.0 percent. The consumer inflation rate has risen from 1.6 percent previously to 1.7 percent now.

In 2021, there was already a recovery and the gross domestic product increased to 249.89 billion US dollars (=117.1% of 2019).

Income and purchasing power

The average monthly income in New Zealand is 3,769 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. Compared with the United States, however, prices for daily consumer goods are around 2.5 percent higher. If you compare income and price levels, the result is a more expensive life in New Zealand than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 37.8 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 New Zealand
Total		New Zealand
per capita		EU
Total		EU
per capita
GDP249.89 bn USD48,781.03 USD17.177 tn USD33,384.92 USD
Gross national product231.72 bn USD45,234.20 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, New Zealand ranked 24th in 2022 with 47.2 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1960 - 2021


› Debt budget development
› Development of inflation
› Corruption in New Zealand
› Cost of living in a global comparison


Imports and Exports 2021

 New Zealand
Total		New Zealand
per capita		EU
Total		EU
per capita
Imports62.91 bn USD12,281.46 USD8.916 tn USD17,329.02 USD
Exports54.80 bn USD10,697.76 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 2000 - 2021

Exports
Imports



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