New Zealand's gross Value Added (GVA) at basic prices (current LCU) was 382.74 billion in 2023, the latest year in the World Bank's World Development Indicators. That is up 79.07% from 213.74 billion in 2013 (6% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 382.74 billion | 2023 |
| Five years earlier | 280.17 billion | 2018 |
| Ten years earlier | 213.74 billion | 2013 |
| Highest | 382.74 billion | 2023 |
| Lowest | 6.77 billion | 1971 |
| Average since 2014 | 292.07 billion | 2014–2023 |
| First recorded | 6.77 billion |
What the numbers say
In 2023, New Zealand's gross Value Added (GVA) at basic prices (current LCU) rose 6.1% on 2022 (from 360.82 billion to 382.74 billion).
Across the 30 yearly changes before that (1993 to 2022), the average change was +5.5% and a typical year strayed about 2.1% from that (the standard deviation). This year's change was 0.3 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 22.6% in 1976 and the biggest yearly fall was 0.1% in 1991. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about 17.28 billion a year. A straight line explains 97% 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.
A straight-line projection, tested first
Extending that straight line gives about 413.8 billion for 2026. We show this only because the same method, fitted on earlier years, predicted 2021 to 2023 better than "no change" would have: its average miss was 31.41 billion, against 55.49 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
Closest to New Zealand in the 2023 ranking
- Greenland — 2nd of 5: 22 billion
- Liechtenstein — 3rd of 5: 7.16 billion
- Isle of Man — 4th of 5: 6.08 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 53 values
| Year | Gross Value Added (GVA) at basic prices (current LCU) |
|---|---|
| 2023 | 382,740,000,000 |
| 2022 | 360,819,000,000 |
| 2021 | 328,463,000,000 |
| 2020 | 301,847,000,000 |
| 2019 | 295,756,000,000 |
| 2018 | 280,169,000,000 |
| 2017 | 266,038,000,000 |
| 2016 | 248,057,000,000 |
| 2015 | 234,089,000,000 |
| 2014 | 222,755,000,000 |
Gross Value Added (GVA) at basic prices (current LCU) in nearby economies
- Australia — 2.6 trillion (2025)
- Brunei Darussalam — 19.94 billion (2025)
- Cambodia — 193.88 trillion (2025)
- Fiji — 12.1 billion (2025)
- French Polynesia — 504.71 billion (2020)
- Hong Kong SAR, China — 3.11 trillion (2024)
- Indonesia — 22,808.5 trillion (2025)
- Japan — 628.94 trillion (2024)
- Kiribati — 530.28 million (2024)
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 gross Value Added (GVA) at basic prices (current LCU)?
- 382.74 billion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1971?
- It is up 5,555% from 6.77 billion in 1971 (8.07% a year on average, compounded). The highest value was 382.74 billion in 2023 and the lowest 6.77 billion in 1971.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.CN, 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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