New Zealand's final consumption expenditure (constant LCU) was 277.24 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 36.9% from 202.52 billion in 2014 (3.19% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 277.24 billion | 2024 |
| Five years earlier | 248.95 billion | 2019 |
| Ten years earlier | 202.52 billion | 2014 |
| Highest | 277.24 billion | 2024 |
| Lowest | 71.16 billion | 1970 |
| Average since 2015 | 250.73 billion | 2015–2024 |
| First recorded | 71.16 billion |
What the numbers say
In 2024, New Zealand's final consumption expenditure (constant LCU) rose 0% on 2023 (from 277.23 billion to 277.24 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +3.3% and a typical year strayed about 1.5% from that (the standard deviation). This year's change was 2.2 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 7.5% in 1973 and the biggest yearly fall was 2.7% in 1976. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 7.94 billion a year. A straight line explains 96% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, New Zealand had the 8th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to New Zealand in the 2024 ranking
What this measures
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 55 values
| Year | Final consumption expenditure (constant LCU) |
|---|---|
| 2024 | 277,235,292,000 |
| 2023 | 277,227,071,000 |
| 2022 | 276,295,746,000 |
| 2021 | 269,550,982,000 |
| 2020 | 254,052,000,000 |
| 2019 | 248,949,092,000 |
| 2018 | 241,281,224,000 |
| 2017 | 231,369,016,000 |
| 2016 | 221,288,865,000 |
| 2015 | 210,074,212,000 |
Final consumption expenditure (constant LCU) in nearby economies
- Australia — 2.02 trillion (2025)
- Brunei Darussalam — 10.42 billion (2025)
- Cambodia — 108.07 trillion (2025)
- China — 76.31 trillion (2025)
- Hong Kong SAR, China — 2.52 trillion (2025)
- Indonesia — 8,309.82 trillion (2025)
- Japan — 425.05 trillion (2024)
- Kiribati — 640.76 million (2024)
- Korea, Rep. — 1,523.31 trillion (2025)
- Lao PDR
More economic policy & debt data for New Zealand
- Total reserves, including gold (current US$) — US$28.15 billion (2025)
- Total reserves, excluding gold (current US$) — US$28.15 billion (2025)
- GDP (current US$) — US$264.06 billion (2025)
- GDP (current LCU) — 449.8 billion (2025)
- GDP (constant 2015 US$) — US$220.1 billion (2025)
- GDP (constant LCU) — 359.52 billion (2025)
- GDP per capita (current US$) — US$49,591 (2025)
- GDP per capita (current LCU) — 84,475 (2025)
- GDP per capita (constant 2015 US$) — US$41,336 (2025)
- GDP per capita (constant LCU) — 67,519 (2025)
Reading data like this
Questions people ask
- What is New Zealand's final consumption expenditure (constant LCU)?
- 277.24 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 289.62% from 71.16 billion in 1970 (2.55% a year on average, compounded). The highest value was 277.24 billion in 2024 and the lowest 71.16 billion in 1970.
- How does New Zealand rank?
- 8th highest of 29 economies with data for 2024.
- Is the latest change in final consumption expenditure (constant LCU) unusual for New Zealand?
- In 2024, New Zealand's final consumption expenditure (constant LCU) rose 0% on 2023 (from 277.23 billion to 277.24 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +3.3% and a typical year strayed about 1.5% from that (the standard deviation). This year's change was 2.2 standard deviations below that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator NE.CON.TOTL.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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