Source: MIL-OSI Submissions
Producing the goods – the changing face of the economy – Media release
23 November 2020
Goods-producing industries made up about one-fifth of the New Zealand economy in 2019, second to service industries, which made up about two-thirds, Stats NZ said today.
This composition shifted from the 1970s, when goods-producing industries made up about a third of the economy while services made up about half.
Stats NZ’s online tool Which industries contributed to New Zealand’s GDP? shows the changing structure of the economy and contributions to gross domestic product (GDP) from 1972 to 2019. The tool measures GDP in current prices (also known as nominal GDP), that is, they are not adjusted for the effect of changing prices over time (inflation), unlike real GDP. Real GDP is measured in volume terms where prices are held constant.
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