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Our Outcome Performance

Improved Economic Performance

New Zealand's average GDP per capita growthfor the past six decades has been poorer than all other OECD countries. In order to maintain New Zealand's living standards we need to materially narrow the income gap between New Zealand and the most advanced economies. New Zealand's economic growth performance relative to other countries is improving, albeit slowly.

New Zealand real per capita GDP growth
New Zealand real per capita GDP growth.

For a country of New Zealand's size, much of this growth will need to be driven by strong export performance as reflected in tradable sector growth, which is also improving but still lags behind non-tradable sector real GDP growth.

New Zealand real tradable and non-tradable GDP growth
New Zealand real tradable and non-tradable GDP growth.

To achieve improved economic performance requires policy changes with the potential to lift productivity across the economy and support a substantial lift in export performance. The Treasury provides policy advice that focuses on three intermediate outcomes that will contribute towards improved economic performance.

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