New Zealand: Gross national expenditure deflator (base year varies by country)

Key figures

What the numbers say

In 2024, New Zealand's gross national expenditure deflator (base year varies by country) rose 2.8% on 2023 (from 118.8 to 122.13).

Across the 30 yearly changes before that (1994 to 2023), the average change was +2.2% and a typical year strayed about 1.5% from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 18.1% 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 3.5 a year. A straight line explains 92% 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 19th highest value of the 32 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

• Palau — 16th of 32: 125.97
• Maldives — 17th of 32: 125.47
• Bermuda — 18th of 32: 122.14
• Belize — 20th of 32: 118.19
• Timor-Leste — 21st of 32: 118.01
• United States — 22nd of 32: 117.98

What this measures

Gross national expenditure is the sum of household final consumption expenditure, general government final consumption expenditure, and gross capital formation. A deflator is the ratio of an indicator in current prices over the same series in constant prices. The base year varies by country.

All 55 values

Gross national expenditure deflator (base year varies by country) in nearby economies

• Brunei Darussalam — 100.98 (2025)
• Cambodia — 120.74 (2025)
• China — 106.38 (2024)
• Indonesia — 174.75 (2025)
• Japan — 110.61 (2024)
• Kiribati — 130.48 (2024)
• Korea, Rep. — 116.18 (2025)
• Lao PDR — 112.74 (2016)
• Macao SAR, China

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

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Questions people ask

What is New Zealand's gross national expenditure deflator (base year varies by country)?

122.13 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 1,680% from 6.86 in 1970 (5.48% a year on average, compounded). The highest value was 122.13 in 2024 and the lowest 6.86 in 1970.

How does New Zealand rank?

19th highest of 32 economies with data for 2024.

Is the latest change in gross national expenditure deflator (base year varies by country) unusual for New Zealand?

In 2024, New Zealand's gross national expenditure deflator (base year varies by country) rose 2.8% on 2023 (from 118.8 to 122.13). Across the 30 yearly changes before that (1994 to 2023), the average change was +2.2% and a typical year strayed about 1.5% from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.DAB.DEFL.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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