# OECD Economic Survey of New Zealand 2026 — Key Statistics for Older People

**Source:** OECD Economic Surveys: New Zealand 2026  
**Published:** 7 May 2026  
**Category:** Statistics / Economics / Demographics  
**KB Location:** `12_Statistics_and_Demographics`  
**Cross‑references:** NZ Super Age Debate, Population Projections, Health Spending

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## Key Indicators (Table 1.1)

| Indicator                   | 2024  | 2025  | 2026 (f) | 2027 (f) |
| --------------------------- | ----- | ----- | -------- | -------- |
| GDP Growth                  | -0.3% | 0.5%  | 1.4%     | 2.3%     |
| CPI Inflation               | 2.9%  | 2.8%  | 3.4%     | 2.4%     |
| Unemployment                | 4.8%  | 5.3%  | 5.4%     | 5.1%     |
| Current Account Balance/GDP | -4.7% | -3.6% | -4.0%    | -3.7%    |
| Gov't Gross Debt/GDP        | 57.5% | 59.4% | 61.5%    | 63.1%    |

## Labour Force & Ageing

- Labour force participation declined 2023–2025
- Participation decline partly driven by population ageing (retiring baby boomers)
- Net migration dropped sharply from late 2023 peak; departures dominated by NZ citizens
- Unemployment at 5.4% expected to decline as recovery strengthens

## KiwiSaver and Retirement Savings Statistics

- KiwiSaver assets: **$141 billion (32% of GDP)** as of September 2025
- 90% enrolment rate but **30% of working‑age members not contributing**
- Average private pension balance: **$28,000** (vs Australia $130,000)
- Mandatory replacement rate for average earner: **43.8%** (vs OECD average 63.2%)
- KiwiSaver first‑home withdrawals doubled from $100m/month (2023) to $200m/month (2025)
- NZ Super Fund: **$85 billion (19.5% of GDP)**
- ACC Investment Fund: **$48.5 billion**

## Housing Market

- Debt‑to‑income (DTI) restrictions introduced July 2024
- LVR restrictions eased December 2025
- High concentration of bank lending in housing (~60% of total)
- First national flood map announced Budget 2026

## Health & Ageing Spending

- Ageing "will drive health, long‑term care and pension costs sharply higher"
- Health spending already 6.7% of GDP (up from 5.5% in 2006 per Treasury TP 25/01)
- Per capita health costs for 65+ significantly higher than working‑age population

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## Source

- Full OECD report: https://www.oecd.org/en/publications/oecd-economic-surveys-new-zealand-2026_3ec5de98-en.html (accessed 9 Jun 2026)
- OECD PDF download: https://www.oecd.org/content/dam/oecd/en/publications/reports/2026/05/oecd-economic-surveys-new-zealand-2026_27daa8d8/3ec5de98-en.pdf (accessed 9 Jun 2026)

## Related KB Files

- `2026 Stats NZ - National Population Estimates March 2026 Quarter.md`
- `2026 OECD Source Brief - Pensions at a Glance NZ Country Notes.md`
- `2026 OECD Source Brief - Long-Term Care Spending and Affordability.md`