18 September 2025: We are continuing to experience technical issues with Infoshare that may mean data from Gross domestic product: June 2025 quarter will not be available via Infoshare Browse.
You can access the data in the Excel tables and CSV files in Download data, and via Infoshare Export Direct.
Gross domestic product (GDP) provides a snapshot of the performance of the economy. GDP is New Zealand's official measure of economic growth.
Key facts
All movements are in seasonally adjusted chain volume terms (adjusted for price inflation) unless otherwise stated.
In the June 2025 quarter, compared with the March 2025 quarter:
- GDP fell 0.9 percent
- expenditure on GDP fell 0.9 percent
- GDP per capita fell 1.1 percent
- real gross national disposable income rose 0.9 percent.
The following movements are in seasonally adjusted nominal terms (not adjusted for price inflation).
In the June 2025 quarter, compared with the March 2025 quarter:
- expenditure on GDP rose 0.1 percent
- income GDP fell 0.2 percent.
New Zealand economy down in June 2025 quarter
Economic activity fell 0.9 percent in the June 2025 quarter as measured by gross domestic product. This follows a 0.9 percent rise in the March 2025 quarter. GDP fell 1.1 percent over the year ended June 2025 compared with the year ended June 2024.
Expenditure on GDP fell 0.9 percent in the June 2025 quarter, following a 1.2 percent rise in the March 2025 quarter. Expenditure on GDP fell 0.6 percent over the year ended June 2025, compared with the year ended June 2024.
| Quarter | Quarterly growth (%) |
| Mar-19 | 0.9 |
| Jun-19 | 0 |
| Sep-19 | 0.8 |
| Dec-19 | 1 |
| Mar-20 | -1.1 |
| Jun-20 | -10.4 |
| Sep-20 | 14.1 |
| Dec-20 | 0.4 |
| Mar-21 | 2.1 |
| Jun-21 | 0.9 |
| Sep-21 | -4.2 |
| Dec-21 | 4 |
| Mar-22 | 0 |
| Jun-22 | 1.1 |
| Sep-22 | 2.1 |
| Dec-22 | 0 |
| Mar-23 | -0.2 |
| Jun-23 | 0.8 |
| Sep-23 | 0.1 |
| Dec-23 | 0.2 |
| Mar-24 | 0.1 |
| Jun-24 | -0.9 |
| Sep-24 | -1.1 |
| Dec-24 | 0.4 |
| Mar-25 | 0.9 |
| Jun-25 | -0.9 |
| Quarter | Annual growth (%) |
| Mar-19 | 3.5 |
| Jun-19 | 3.2 |
| Sep-19 | 3.3 |
| Dec-19 | 3 |
| Mar-20 | 2.3 |
| Jun-20 | -0.7 |
| Sep-20 | -1 |
| Dec-20 | -1.3 |
| Mar-21 | -0.3 |
| Jun-21 | 6.2 |
| Sep-21 | 5.3 |
| Dec-21 | 5.6 |
| Mar-22 | 4.5 |
| Jun-22 | 0.7 |
| Sep-22 | 2.7 |
| Dec-22 | 2.9 |
| Mar-23 | 3.5 |
| Jun-23 | 4 |
| Sep-23 | 2.3 |
| Dec-23 | 1.8 |
| Mar-24 | 1.4 |
| Jun-24 | 0.6 |
| Sep-24 | 0 |
| Dec-24 | -0.6 |
| Mar-25 | -1.1 |
| Jun-25 | -1.1 |
Growth and contribution to growth by industry group, June 2025 quarter
The following three graphs show the growth, contribution to growth, and economic share of the primary, goods-producing, and services industries to GDP for the June 2025 quarter.
| Industry group | Growth (%) |
| Primary | -0.7 |
| Goods-producing | -2.3 |
| Services | 0 |
| Industry group | Contribution (%) |
| Primary | -0.04 |
| Goods-producing | -0.43 |
| Services | 0.00 |
| Industry group | Share (%) |
|---|---|
| Primary | 5.8 |
| Goods-producing | 20.6 |
| Services | 73.6 |
| Industry | Change ($) |
| "Agriculture | -10000000 |
| forestry | -20000000 |
| and fishing" | -194000000 |
| Mining | 7000000 |
| Manufacturing | -76000000 |
| "Electricity | 47000000 |
| gas | -11000000 |
| water | -17000000 |
| and waste services" | 50000000 |
| Construction | -21000000 |
| Wholesale trade | 71000000 |
| Retail trade and accommodation | -35000000 |
| "Transport | 16000000 |
| postal | -1000000 |
| and warehousing" | -32000000 |
| "Information | -18000000 |
| media | |
| and telecommunications" | |
| Financial and insurance services | |
| "Rental | |
| hiring | |
| and real estate services" | |
| Business services | |
| "Public admin | |
| safety | |
| and defence" | |
| Education and training | |
| Health care and social assistance | |
| "Arts | |
| recreation | |
| and other services" |
| Component | Change ($) |
| Household consumption expenditure | 193000000 |
| Private consumption expenditure | 191000000 |
| General government expenditure | 14000000 |
| Change in inventories | 359000000 |
| Gross fixed capital formation | -192000000 |
| Gross national expenditure | 404000000 |
| Exports of goods and services | -216000000 |
| (less) Imports of goods and services | 129000000 |
| Expenditure on gross domestic product | -644000000 |
| Component | $ |
| Compensation of employees | 25000000 |
| Gross operating surplus and gross mixed income | -457000000 |
| Taxes on production and imports | 115000000 |
| (less) Subsidies | -61000000 |
| Gross domestic product - income measure | -256000000 |
Nominal income GDP falls
Nominal income GDP fell 0.2 percent in the June 2025 quarter, following a 1.5 percent rise in the March 2025 quarter. The drivers were:
- gross operating surplus and gross mixed income, down 1.0 percent.
More data
Use Infoshare to access the national accounts time series.
Subject category: Economic indicators
Group: National accounts - SNA 2008
Definitions and metadata
National accounts quarterlies - DataInfo+ provides the general methodology used to produce these statistics.
National accounts quarterlies - concepts - DataInfo+ provides the definitions of terms used in this release.
Gross domestic product: June 2025 quarter - changes and data updates - DataInfo+ has details of data updates for this release.
Overview of sources and methods for quarterly gross domestic product: Updates and COVID-19 adjustments provides an overview of changes to our usual quarterly GDP methods, including alternative data sources and methods we are using to measure the effects of COVID-19 in New Zealand.
About the quarterly income measure of GDP provides more information on the GDPI measure.
National accounts (income, saving, assets, and liabilities): Sources and methods (fourth edition) provides the data sources and compilation methods used in estimating GDPI as well as income by institutional sector and saving, assets, and liabilities measures.
Technical enquiries
Heyward Bates
[email protected]
04 931 4600
ISSN 1178-0290
Next release
Gross domestic product: September 2025 quarter will be released on 18 December 2025.
