WELLINGTON, Sept. 21 (Xinhua) -- New Zealand's gross domestic product (GDP) rose 0.8 percent in the June 2017 quarter, following a revised 0.6 percent rise in the March quarter, the country's statistics department Stats NZ said on Thursday.
GDP per capita rose 0.3 percent this quarter, which follows a flat result in the March 2017 quarter, said a Stats NZ statement, adding that annual GDP growth for the year ended June 2017 was 2.7 percent while the size of the economy in current prices was 268 billion NZ dollars (196 billion U.S. dollars).
"Strong export and domestic demand underpinned growth this quarter," national accounts senior manager Gary Dunnet said in the statement.
Demand for exports has resulted in strong production growth in manufacturing and service industries, Dunnet said.
Exports rose 5.2 percent, with exports of goods posting its biggest quarterly increase in nearly 20 years, which was driven by exports of dairy and forestry products, he said.
Robust demand for dairy exports was reflected in increased dairy production and dairy product manufacturing, while dairy inventories ran down from their build-ups in recent quarters, Dunnet said.
"Eleven of 16 industries increased in the latest quarter, with retail trade and accommodation having the biggest rise," he said.
Construction eased again this quarter, falling from its recent peak in December 2016, Stats NZ said, adding that construction activity fell 1.1 percent, following the 2.1-percent fall in the March quarter, which reflected lower construction-related investment, the department said.
Service industries continued to grow this quarter, increasing 1 percent, which was driven by retail trade and accommodation, transport, and business services, it said.
Finance Minister Steven Joyce said that New Zealand economy continues to outperform many developed nations, including Australia, Britain, the United States, countries in the euro area, Japan, and the average across the whole OECD.
Statistics showed that "the government's consistent economic plan is encouraging businesses to invest and grow more jobs for New Zealanders. It is important to maintain and support business confidence if we are to continue our progress in the years ahead," Joyce said.
