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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
New Zealand GDP Growth (1961-2023)
New Zealand’s GDP growth has seen varied trends from 1961. The 1960s were marked by robust growth, reaching 10.2% in 1969. Economic challenges led to contractions in the 1970s and 1980s, but reforms in the 1990s stabilized growth, peaking at 6.4% in 1993. The pandemic caused a decline in 2020, but recovery was swift, with growth reaching 4.5% in 2021. By 2023, growth moderated to 0.6%, reflecting global inflation and economic cooling.
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