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Gross Domestic Product (GDP)

Fourth smallest of 30 OECD countries

The size of a country’s economy is measured by using Gross Domestic Product (GDP), which represents the dollar value of goods and services produced by an economy over a specific period of time.

The New Zealand economy is the fourth-smallest of the 30 OECD countries, larger only than Iceland, Luxembourg and the Slovak Republic. The largest economy by far is the United States, followed by Japan, Germany, the United Kingdom and France.

 

Gross Domestic Product

at current prices and exchange rates US$(billion), 2004 

   2004
 OECD  32,894.6
 New Zealand  98.5

Positive growth

New Zealand had the seventh-fastest-growing economy in the OECD from 2003 to 2004, with a growth rate of 4.8 percent. This compares with the 3.6 percent overall economic growth of all OECD countries in the same period. All 30 OECD countries had positive growth.

 

 GDP Growth Rate

volume, 2003 to 2004

   Percent
 New Zealand  4.8
 OECD  3.6
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