Heavily reliant on foreign trade, New Zealand has a sophisticated market economy. The country has a tight relationship with Australia, which is the country's largest importer of kiwi products, as well as a supplier and investor. The tourism industry and agricultural exports are the two most developed industries in New Zealand, and they are the primary drivers of the country's economic development. A large portion of the economy is devoted to services, which account for 75% of total GDP. These services include financial, insurance, and business services (30%), personal and community services (13%), transportation and communication services (11%). In terms of GDP, industry accounts for 17%, with manufacturing accounting for 13% and construction accounting for 4%. The remaining 8% is composed of industries like agriculture, fishing, forestry, and mining.
A higher than expected figure should be seen as positive (bullish) for the NZD while a lower than expected figure should be seen as negative (bearish) for the NZD.
Source:
Statistics New Zealand
Category:
GDP Growth Rate
Units:
Percent
Details
Impact
Medium
Country
Currency
NZD
Latest Release
Previous
1.4%
Consensus
1.3%
Actual
2.8%
Next Release
Date
Dec 18, 19:45
Time left
88 days
Consensus
1%
Forex Sentiment (NZD)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| AUDNZD |
|
|
1.0335 -15 pips |
1.0479 -129 pips |
1.03503 | |
| EURNZD |
|
|
1.6670 -37 pips |
1.6841 -134 pips |
1.67072 | |
| NZDCAD |
|
|
0.8904 -66 pips |
0.8994 -24 pips |
0.89699 | |
| NZDJPY |
|
|
75.5938 -136 pips |
77.6153 -66 pips |
76.955 | |
| NZDUSD |
|
|
0.6862 -160 pips |
0.7074 -52 pips |
0.70215 | |
| GBPNZD |
|
|
1.9379 -85 pips |
1.9676 -212 pips |
1.94644 | |
| NZDCHF |
|
|
0.6427 -85 pips |
0.6563 -51 pips |
0.65122 |
