New Zealand M2 Growth
1989 - 2026 | Monthly | % | CEIC Data
Key information about New Zealand M2 Growth
- New Zealand Money Supply M2 increased 4.3 % YoY in May 2026, compared with a growth of 4.4 % in the previous month
- New Zealand Money Supply M2 growth data is updated monthly, available from Mar 1989 to May 2026
- The data reached an all-time high of 15.7 % in Oct 1996 and a record low of -1.0 % in May 1999
CEIC calculates M2 Growth Rate from monthly M2. The Reserve Bank of New Zealand provides M2 in local currency
View New Zealand's M2 Growth from Mar 1989 to May 2026 in the chart:
What was New Zealand's M2 Growth in May 2026?
New Zealand Money Supply M2 increased 4.3 % YoY in May 2026, compared with a growth of 4.4 % in the previous month See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 4.3 May 2026 | 4.4 Apr 2026 | -1.0 May 1999 | 15.7 Oct 1996 | % | monthly | Mar 1989 - May 2026 |
M2 Growth by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 15.4 May 2026 | monthly | Dec 1994 - May 2026 |
| Algeria (%) | 9.0 Dec 2024 | monthly | Jan 2002 - Dec 2024 |
| Argentina (%) | 18.1 Apr 2026 | monthly | Jan 1991 - Apr 2026 |
| Armenia (%) | 22.0 Dec 2025 | monthly | Jan 2003 - Dec 2025 |
| Australia (%) | 7.8 May 2026 | monthly | Mar 1966 - May 2026 |
| Austria (%) | 2.1 May 2026 | monthly | Sep 1998 - May 2026 |
| Azerbaijan (%) | 6.9 Oct 2025 | monthly | Dec 1996 - Oct 2025 |
| Bahrain (%) | 7.1 May 2026 | monthly | Dec 1975 - May 2026 |
| Bangladesh (%) | 11.4 Apr 2026 | monthly | Jun 1987 - Apr 2026 |
| Belarus (%) | 27.8 Apr 2026 | monthly | Dec 1990 - Apr 2026 |
| Belgium (%) | 1.8 May 2026 | monthly | Dec 1997 - May 2026 |
| Bolivia (%) | 15.5 Jan 2026 | monthly | Dec 1988 - Jan 2026 |
| Bosnia and Herzegovina (%) | 11.9 May 2026 | monthly | Aug 1998 - May 2026 |
| Botswana (%) | 4.8 Apr 2026 | monthly | Jan 2002 - Apr 2026 |
| Brazil (%) | 10.8 May 2026 | monthly | Jan 1971 - May 2026 |
| Bulgaria (%) | 19.3 Mar 2026 | monthly | Dec 1996 - Mar 2026 |
| Cambodia (%) | 2.4 May 2026 | monthly | Jan 1996 - May 2026 |
| Canada (%) | 4.2 Apr 2026 | monthly | Jan 1969 - Apr 2026 |
| Chile (%) | 4.5 Apr 2026 | monthly | Jan 1987 - Apr 2026 |
| China (%) | 8.6 May 2026 | monthly | Mar 1997 - May 2026 |
| Colombia (%) | 11.5 May 2026 | monthly | Dec 1980 - May 2026 |
| Croatia (%) | 5.1 May 2026 | monthly | Jun 1995 - May 2026 |
| Cyprus (%) | -5.2 2014 | yearly | 2006 - 2014 |
| Czech Republic (%) | 4.8 May 2026 | monthly | Jan 2003 - May 2026 |
| Denmark (%) | 5.3 May 2026 | monthly | Jan 1992 - May 2026 |
| Ecuador (%) | 11.2 Apr 2026 | monthly | Dec 2007 - Apr 2026 |
| Egypt (%) | 19.6 May 2026 | monthly | Jan 1997 - May 2026 |
| Estonia (%) | 5.6 May 2026 | monthly | Jan 2012 - May 2026 |
| European Union (%) | 4.2 May 2026 | monthly | Jan 1981 - May 2026 |
| Finland (%) | 1.4 May 2026 | monthly | Jan 1981 - May 2026 |
| France (%) | 1.6 May 2026 | monthly | Dec 1978 - May 2026 |
| Georgia (%) | 26.6 May 2026 | monthly | Oct 1996 - May 2026 |
| Germany (%) | 3.7 May 2026 | monthly | Jan 1970 - May 2026 |
| Ghana (%) | 28.8 Mar 2026 | quarterly | Mar 1991 - Mar 2026 |
| Greece (%) | 6.8 May 2026 | monthly | Jan 2002 - May 2026 |
| Hong Kong SAR, China (%) | 9.9 May 2026 | monthly | Dec 1981 - May 2026 |
| Hungary (%) | 6.1 May 2026 | monthly | Jan 1999 - May 2026 |
| Iceland (%) | 10.4 May 2026 | monthly | Sep 1987 - May 2026 |
| India (%) | 17.2 Apr 2026 | monthly | Mar 1995 - Apr 2026 |
| Indonesia (%) | 10.8 May 2026 | monthly | Feb 1969 - May 2026 |
| Iran (%) | 53.3 Mar 2026 | monthly | Dec 2000 - Mar 2026 |
| Ireland (%) | 5.1 May 2026 | monthly | Jan 2000 - May 2026 |
| Israel (%) | 9.8 Mar 2026 | monthly | Apr 1982 - Mar 2026 |
| Italy (%) | 2.9 Apr 2026 | monthly | Dec 1975 - Apr 2026 |
| Ivory Coast (%) | 22.4 Apr 2026 | monthly | Jan 2005 - Apr 2026 |
| Japan (%) | 2.5 May 2026 | monthly | Jan 1968 - May 2026 |
| Jordan (%) | 8.0 May 2026 | monthly | Jan 1991 - May 2026 |
| Kazakhstan (%) | 15.7 May 2026 | monthly | Dec 1994 - May 2026 |
| Kenya (%) | 11.8 Apr 2026 | monthly | Dec 1996 - Apr 2026 |
| South Korea (%) | 5.6 Apr 2026 | monthly | Jan 1971 - Apr 2026 |
| Kosovo (%) | 12.4 2024 | yearly | 2002 - 2024 |
| Kuwait (%) | 2.2 Apr 2026 | monthly | Jan 1995 - Apr 2026 |
| Kyrgyzstan (%) | 50.1 Jan 2026 | monthly | Jan 1995 - Jan 2026 |
| Laos (%) | 19.6 Mar 2026 | quarterly | Dec 2000 - Mar 2026 |
| Latvia (%) | 7.8 May 2026 | monthly | Jan 2015 - May 2026 |
| Lebanon (%) | -10.0 Apr 2026 | monthly | Dec 1980 - Apr 2026 |
| Lithuania (%) | 15.2 May 2026 | monthly | Dec 1994 - May 2026 |
| Luxembourg (%) | 4.6 May 2026 | monthly | Jan 2000 - May 2026 |
| Macau SAR, China (%) | 5.7 May 2026 | monthly | Jun 1985 - May 2026 |
| North Macedonia (%) | 9.6 Apr 2026 | monthly | Jan 2004 - Apr 2026 |
| Malawi (%) | 51.0 Sep 2025 | monthly | Jan 1976 - Sep 2025 |
| Malaysia (%) | 6.0 May 2026 | monthly | Dec 1970 - May 2026 |
| Malta (%) | 5.3 May 2026 | monthly | Jan 2009 - May 2026 |
| Mauritius (%) | 8.6 May 2026 | monthly | Jul 1977 - May 2026 |
| Mexico (%) | 6.9 May 2026 | monthly | Dec 1986 - May 2026 |
| Moldova (%) | 14.2 Mar 2026 | monthly | Jan 2001 - Mar 2026 |
| Mongolia (%) | 26.8 May 2026 | monthly | Dec 1997 - May 2026 |
| Montenegro (%) | 9.8 2025 | yearly | 2003 - 2025 |
| Morocco (%) | 13.3 May 2026 | monthly | Jan 1986 - May 2026 |
| Mozambique (%) | 9.4 Apr 2026 | monthly | Dec 2002 - Apr 2026 |
| Myanmar (%) | 32.1 Sep 2025 | quarterly | Dec 2002 - Sep 2025 |
| Nepal (%) | 15.2 May 2026 | monthly | Jan 2002 - May 2026 |
| Netherlands (%) | 5.2 May 2026 | monthly | Dec 1957 - May 2026 |
| New Zealand (%) | 4.3 May 2026 | monthly | Mar 1989 - May 2026 |
| Nigeria (%) | 8.4 May 2026 | monthly | Apr 1991 - May 2026 |
| Norway (%) | 6.5 May 2026 | monthly | Dec 1993 - May 2026 |
| Oman (%) | 6.1 Dec 2025 | monthly | Jan 2000 - Dec 2025 |
| Pakistan (%) | 15.1 Apr 2026 | monthly | Jan 1989 - Apr 2026 |
| Palestinian Territory (%) | 14.4 Apr 2026 | monthly | Jul 2003 - Apr 2026 |
| Panama (%) | 6.0 Apr 2026 | monthly | Dec 2003 - Apr 2026 |
| Paraguay (%) | 14.1 May 2026 | monthly | Dec 1989 - May 2026 |
| Peru (%) | 14.4 May 2026 | monthly | Jan 1993 - May 2026 |
| Philippines (%) | 11.2 Apr 2026 | monthly | Dec 1989 - Apr 2026 |
| Poland (%) | 10.9 May 2026 | monthly | Dec 1997 - May 2026 |
| Portugal (%) | 6.7 May 2026 | monthly | Dec 1980 - May 2026 |
| Qatar (%) | 9.6 May 2026 | monthly | Jan 1983 - May 2026 |
| Romania (%) | 7.5 May 2026 | monthly | Dec 2002 - May 2026 |
| Russia (%) | 12.3 Apr 2026 | monthly | Dec 1992 - Apr 2026 |
| Saudi Arabia (%) | 7.7 May 2026 | monthly | Jan 1994 - May 2026 |
| Serbia (%) | 10.0 May 2026 | monthly | Aug 2002 - May 2026 |
| Singapore (%) | 6.6 May 2026 | monthly | Mar 2005 - May 2026 |
| Slovakia (%) | 6.0 May 2026 | monthly | Dec 2001 - May 2026 |
| Slovenia (%) | 5.3 May 2026 | monthly | Jan 2008 - May 2026 |
| South Africa (%) | 8.3 May 2026 | monthly | Mar 1966 - May 2026 |
| Spain (%) | 5.1 May 2026 | monthly | Jan 1963 - May 2026 |
| Sri Lanka (%) | 11.8 Apr 2026 | monthly | Jan 1995 - Apr 2026 |
| Sudan (%) | 92.0 May 2026 | monthly | Dec 2004 - May 2026 |
| Sweden (%) | 3.0 May 2026 | monthly | Jan 1999 - May 2026 |
| Switzerland (%) | 16.2 Oct 2025 | monthly | Dec 1985 - Oct 2025 |
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Learn more about what we doNew Zealand Key Series
| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -1.1 Mar 2026 | quarterly | Dec 1999 - Mar 2026 |
| Consolidated Fiscal Balance (USD mn) | -4,697.177 Mar 2026 | quarterly | Mar 1999 - Mar 2026 |
| Tax Revenue (USD mn) | 81,870.465 2026 | yearly | 1999 - 2026 |
| Tax Revenue: % of GDP (%) | 30.5 2025 | yearly | 1999 - 2025 |
| National Government Debt (USD mn) | 130,325.2 Mar 2026 | quarterly | Dec 2006 - Mar 2026 |
| Government Debt: % of GDP (%) | 49.4 Dec 2025 | quarterly | Dec 2006 - Dec 2025 |
| Forecast: Government Expenditure (NZD bn) | 216.921 2031 | yearly | 1985 - 2031 |
| Forecast: Government Net Debt (NZD bn) | 317.093 2031 | yearly | 1985 - 2031 |
| Forecast: Government Revenue (NZD bn) | 213.303 2031 | yearly | 1985 - 2031 |
| General Government: ytd: Borrowings (NZD mn) | 295,081.000 Mar 2026 | quarterly | Jun 2002 - Mar 2026 |
| General Government: ytd: Borrowings: Gross Sovereign Issued Debt Excluding Reser... (NZD mn) | 228,240.211 Mar 2026 | quarterly | Dec 2006 - Mar 2026 |
| General Government: ytd: Revenue (NZD mn) | 124,762.000 Mar 2026 | quarterly | Mar 1999 - Mar 2026 |
| General Government: ytd: Expenses (NZD mn) | 132,721.000 Mar 2026 | quarterly | Mar 1999 - Mar 2026 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 2.679 2031 | yearly | 1980 - 2031 |
| Trade Balance (USD mn) | 472.5 May 2026 | monthly | Jan 1960 - May 2026 |
| Total Exports (USD mn) | 5,242.6 May 2026 | monthly | Jan 1957 - May 2026 |
| Total Exports Growth (%) | 18.1 May 2026 | monthly | Jan 1952 - May 2026 |
| Aluminum: Exports (USD th) | 748,011.388 2024 | yearly | 1995 - 2024 |
| Exports: Medicament (USD th) | 141,065.733 2024 | yearly | 1995 - 2024 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 300,779.899 2024 | yearly | 1995 - 2024 |
| Total Imports (USD mn) | 4,770.1 May 2026 | monthly | Jan 1960 - May 2026 |
| Total Imports Growth (%) | 25.9 May 2026 | monthly | Jan 1961 - May 2026 |
| Imports: Medicament (USD th) | 1,026,250.125 2024 | yearly | 1995 - 2024 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 436,775.230 2024 | yearly | 1995 - 2024 |
| Total Exports to USA (USD mn) | 700.529 May 2026 | monthly | Jul 1981 - May 2026 |
| Total Imports from USA (USD mn) | 409.865 May 2026 | monthly | Jan 1981 - May 2026 |
| Total Exports to China (USD mn) | 1,050.442 May 2026 | monthly | Jul 1981 - May 2026 |
| Total Imports from China (USD mn) | 1,091.436 May 2026 | monthly | Jul 1982 - May 2026 |
| Import Volume Index (Jun2002=1000) | 2,685.000 Mar 2026 | quarterly | Mar 1949 - Mar 2026 |
| Import Volume Index: sa (Jun2002=1000) | 2,830.000 Mar 2026 | quarterly | Jun 1990 - Mar 2026 |
| Export Volume Index: Exclude Re Export (Jun2002=1000) | 1,485.000 Mar 2026 | quarterly | Mar 1951 - Mar 2026 |
| Export Volume Index: Exclude Re Export: sa (Jun2002=1000) | 1,483.000 Mar 2026 | quarterly | Jun 1990 - Mar 2026 |
| Exports: fob: Australia (NZD mn) | 1,060.819 Mar 2026 | monthly | Jan 1988 - Mar 2026 |
| Exports: fob: United Kingdom (NZD mn) | 249.634 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: United States (NZD mn) | 1,186.131 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: Japan (NZD mn) | 509.122 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: China (NZD mn) | 2,103.473 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: Australia: sa (NZD mn) | 1,023.183 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: China: sa (NZD mn) | 1,778.601 May 2026 | monthly | Jul 1981 - May 2026 |
| Exports: fob: SITC: Crude Materials (NZD mn) | 852.351 May 2026 | monthly | Jan 2002 - May 2026 |
| Exports: fob: SITC: Manufacturing: Goods (NZD mn) | 448.407 May 2026 | monthly | Jan 2002 - May 2026 |
| Exports: fob: SITC: Food & Live Animals (NZD mn) | 5,773.788 May 2026 | monthly | Jan 2002 - May 2026 |
| Exports: fob: SITC: Mineral Fuels (NZD mn) | 70.121 May 2026 | monthly | Jan 2002 - May 2026 |
| Exports: fob: SITC: Manufacturing: Machinery & Transport Equipment (NZD mn) | 506.713 May 2026 | monthly | Jan 2002 - May 2026 |
| Term Trade Index (Jun2002=1000) | 1,561.000 Mar 2026 | quarterly | Mar 1957 - Mar 2026 |
| Export Value Index (2015=100) | 123.100 2024 | yearly | 2005 - 2024 |
| Import Value Index (2015=100) | 128.200 2024 | yearly | 2005 - 2024 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 0.5 Dec 2017 | quarterly | Mar 1996 - Dec 2017 |
| Household Debt: % of GDP (%) | 91.1 Dec 2025 | quarterly | Dec 1990 - Dec 2025 |
| Money Supply M1 (USD mn) | 80,752.386 May 2026 | monthly | Dec 2016 - May 2026 |
| Money Supply M2 (USD mn) | 270,266.763 May 2026 | monthly | Mar 1988 - May 2026 |
| M2 Growth (%) | 4.3 May 2026 | monthly | Mar 1989 - May 2026 |
| Foreign Exchange Reserves (USD mn) | 29,365.6 May 2026 | monthly | Sep 2005 - May 2026 |
| Foreign Exchange Reserves: % of GDP (%) | 9.623 Dec 2025 | quarterly | Sep 2005 - Dec 2025 |
| Foreign Exchange Reserves: Months of Import (NA) | 6.1 May 2026 | monthly | Sep 2005 - May 2026 |
| Gold Reserves (USD mn) | 0.000 May 2026 | monthly | Dec 1950 - May 2026 |
| Total Deposits (USD mn) | 295,583.562 May 2026 | monthly | Dec 2016 - May 2026 |
| Total Deposits Growth (%) | 4.1 May 2026 | monthly | Dec 2017 - May 2026 |
| Domestic Credit (USD mn) | 380,667.0 May 2026 | monthly | Mar 1988 - May 2026 |
| Domestic Credit Growth (%) | 3.6 May 2026 | monthly | Mar 1989 - May 2026 |
| Credit to Households (USD bn) | 233.633 Dec 2025 | quarterly | Dec 1990 - Dec 2025 |
| Credit to Private Non-Financial Sector (USD bn) | 413.335 Dec 2025 | quarterly | Mar 1960 - Dec 2025 |
| Household Debt (USD mn) | 247,765.0 May 2026 | monthly | Dec 1990 - May 2026 |
| Total Loans (USD mn) | 366,277.177 May 2026 | monthly | Dec 2016 - May 2026 |
| Total Loans Growth (%) | 4.96 May 2026 | monthly | Dec 2017 - May 2026 |
| Private Debt: % of Nominal GDP (%) | 136.85 Dec 2025 | quarterly | Mar 1988 - Dec 2025 |
| Depository Corp: Money Supply: Broad Money: Narrow Money (NZD mn) | 134,767.000 May 2026 | monthly | Dec 2016 - May 2026 |
| Depository Corp: Domestic Credit (NZD mn) | 635,292.000 May 2026 | monthly | Mar 1988 - May 2026 |
| Depository Corp: Money Supply: Broad Money (NZD mn) | 451,046.000 May 2026 | monthly | Mar 1988 - May 2026 |
| Official Reserve Assets (NZD mn) | 54,698.014 May 2026 | monthly | Sep 2005 - May 2026 |
| Official Reserve Assets: Foreign Currency Reserves (NZD mn) | 42,411.014 May 2026 | monthly | Sep 2005 - May 2026 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 10.2 Oct 2025 | monthly | Aug 2003 - Oct 2025 |
| House Price Inflation: Net Percent Expecting (%) | 86.700 Jun 2026 | quarterly | Mar 2022 - Jun 2026 |
| House Price Inflation: Net Percent Expecting Higher (%) | 12.000 Jun 2026 | quarterly | Mar 2022 - Jun 2026 |
| Business Outlook Survey: Service: Business Confidence Index (Point) | 30.400 Jun 2026 | monthly | Feb 1991 - Jun 2026 |
| Business Outlook Survey: Manufacturing: Business Confidence Index (Point) | 58.000 Jun 2026 | monthly | Feb 1991 - Jun 2026 |
| Business Outlook Survey: All Industries: Business Confidence Index (Point) | 36.600 Jun 2026 | monthly | Feb 1991 - Jun 2026 |
| Business Outlook Survey: Retail: Business Confidence Index (Point) | 44.400 Jun 2026 | monthly | Feb 1991 - Jun 2026 |
| Business Outlook Survey: Construction: Business Confidence Index (Point) | 32.100 Jun 2026 | monthly | Feb 1991 - Jun 2026 |
| Performance Manufacturing Index (NA) | 51.300 May 2026 | monthly | Aug 2002 - May 2026 |
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