External balance on goods and services as a percent of GDP in New Zealand
New Zealand: External balance on goods and services as a percent of GDP was -1.3% in 2024. ◆ Volatile
External balance on goods and services as a percent of GDP in New Zealand, 1970–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
New Zealand recorded -1.3% for external balance on goods and services as a percent of gdp in 2024.
That represents a change of up 52.0% on the previous year and down 254.3% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in New Zealand peaked at 4.0% in 1988 and was at its lowest, -12.3%, in 1974.
New Zealand ranks 89th of 191 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in New Zealand, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | -3.0% | — |
| 1971 | 0.8% | -126.8% |
| 1972 | 3.0% | +280.0% |
| 1973 | 0.2% | -95.0% |
| 1974 | -12.3% | -8186.8% |
| 1975 | -6.9% | -43.7% |
| 1976 | -2.6% | -62.8% |
| 1977 | -1.6% | -37.8% |
| 1978 | 0.7% | -146.4% |
| 1979 | -1.6% | -308.3% |
| 1980 | -1.1% | -30.1% |
| 1981 | -3.0% | +179.1% |
| 1982 | -3.0% | -1.7% |
| 1983 | -1.2% | -60.4% |
| 1984 | -2.6% | +119.2% |
| 1985 | -2.1% | -17.2% |
| 1986 | 0.5% | -123.6% |
| 1987 | 2.2% | +344.2% |
| 1988 | 4.0% | +77.9% |
| 1989 | 0.7% | -81.9% |
| 1990 | 0.9% | +26.8% |
| 1991 | 3.7% | +302.7% |
| 1992 | 3.1% | -14.6% |
| 1993 | 3.7% | +15.9% |
| 1994 | 2.7% | -24.9% |
| 1995 | 1.9% | -31.7% |
| 1996 | 1.6% | -15.5% |
| 1997 | 1.4% | -11.9% |
| 1998 | 1.3% | -4.0% |
| 1999 | 0.5% | -62.7% |
| 2000 | 3.0% | +495.0% |
| 2001 | 3.6% | +22.0% |
| 2002 | 3.0% | -16.3% |
| 2003 | 1.8% | -41.9% |
| 2004 | 0.3% | -83.7% |
| 2005 | -1.4% | -604.2% |
| 2006 | -0.4% | -73.3% |
| 2007 | 0.1% | -131.4% |
| 2008 | -0.3% | -307.1% |
| 2009 | 2.3% | -1023.9% |
| 2010 | 2.3% | -1.2% |
| 2011 | 1.5% | -32.4% |
| 2012 | 0.7% | -55.1% |
| 2013 | 1.6% | +131.8% |
| 2014 | 0.8% | -49.6% |
| 2015 | 1.0% | +25.4% |
| 2016 | 0.8% | -23.0% |
| 2017 | 0.9% | +15.8% |
| 2018 | -0.1% | -110.8% |
| 2019 | 0.2% | -282.3% |
| 2020 | -0.5% | -373.3% |
| 2021 | -3.8% | +668.1% |
| 2022 | -5.1% | +35.9% |
| 2023 | -2.6% | -49.1% |
| 2024 | -1.3% | -52.0% |
New Zealand compared with similar countries
- New Zealand's -1.3% is below the median for high income countries, which is 2.2%. (72 countries reporting)
- New Zealand's -1.3% is above the median for East Asia & Pacific, which is -9.4%, 13% of the median. (34 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services as a percent of GDP in New Zealand changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1974 | -8186.8% | 0.2% | -12.3% |
| 2009 | +1023.9% | -0.3% | 2.3% |
| 2021 | -668.1% | -0.5% | -3.8% |
| 2005 | -604.2% | 0.3% | -1.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -2.3% | -12.3% | 3.0% | 10 |
| 1980s | -0.6% | -3.0% | 4.0% | 10 |
| 1990s | 2.1% | 0.5% | 3.7% | 10 |
| 2000s | 1.2% | -1.4% | 3.6% | 10 |
| 2010s | 1.0% | -0.1% | 2.3% | 10 |
| 2020s | -2.6% | -5.1% | -0.5% | 5 |
Countries ranked near New Zealand
More economy & growth data for New Zealand
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.71 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.37 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 23.86 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0001 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 4.48 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.61 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 104.98 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0137 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 677.46 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 27.59 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in New Zealand?
- External balance on goods and services as a percent of gdp in New Zealand was -1.3% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in New Zealand?
- The highest recorded value was 4.0% in 1988.
- What is the lowest external balance on goods and services as a percent of gdp recorded in New Zealand?
- The lowest recorded value was -12.3% in 1974.
- How does New Zealand rank for external balance on goods and services as a percent of gdp?
- New Zealand ranks 89th out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in New Zealand?
- Over the last ten years it is down 254.3%. The long-run trend across the full record is volatile.
- Where does this New Zealand data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.