New Zealand's services, value added (constant LCU) was 244.84 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 33.7% from 183.12 billion in 2014 (2.95% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 244.84 billion | 2024 |
| Five years earlier | 217.91 billion | 2019 |
| Ten years earlier | 183.12 billion | 2014 |
| Highest | 245.11 billion | 2023 |
| Lowest | 62.5 billion | 1977 |
| Average since 2015 | 220.16 billion | 2015–2024 |
| First recorded | 62.5 billion |
What the numbers say
In 2024, New Zealand's services, value added (constant LCU) fell 0.1% on 2023 (from 245.11 billion to 244.84 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +3.4% and a typical year strayed about 1.5% from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 8.9% in 1986 and the biggest yearly fall was 0.2% in 2008. 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 6.43 billion a year. A straight line explains 98% 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 269.04 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 3.94 billion, against 12.33 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.
How it compares
In 2024, New Zealand had the 9th highest value of the 26 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
- United Arab Emirates — 5th of 26: 944.8 billion
- Afghanistan — 6th of 26: 469.67 billion
- Macao SAR, China — 7th of 26: 364.51 billion
- Bolivia — 9th of 26: 180.62 billion
- Vanuatu — 10th of 26: 87.8 billion
- Trinidad and Tobago — 11th of 26: 84.83 billion
What this measures
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. 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 48 values
| Year | Services, value added (constant LCU) |
|---|---|
| 2024 | 244,840,565,000 |
| 2023 | 245,114,599,000 |
| 2022 | 240,486,315,000 |
| 2021 | 231,145,536,000 |
| 2020 | 217,520,000,000 |
| 2019 | 217,907,610,000 |
| 2018 | 211,986,030,000 |
| 2017 | 205,203,833,000 |
| 2016 | 197,534,137,000 |
| 2015 | 189,852,506,000 |
Services, value added (constant LCU) in nearby economies
- Australia — 1.8 trillion (2025)
- Brunei Darussalam — 8.07 billion (2025)
- Cambodia — 56.12 trillion (2025)
- China — 76.36 trillion (2025)
- Fiji — 7.17 billion (2025)
- Hong Kong SAR, China — 2.88 trillion (2025)
- Indonesia — 6,293.49 trillion (2025)
- Japan — 420.61 trillion (2024)
- Kiribati — 260.63 million (2024)
- Korea, Rep. — 1,347.27 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 services, value added (constant LCU)?
- 244.84 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1977?
- It is up 291.73% from 62.5 billion in 1977 (2.95% a year on average, compounded). The highest value was 245.11 billion in 2023 and the lowest 62.5 billion in 1977.
Source
World Bank, World Development Indicators, indicator NV.SRV.TOTL.KN, 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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