New Zealand M2 Growth
1989 - 2026 | Monthly | % | CEIC Data
Key information about New Zealand M2 Growth
- New Zealand Money Supply M2 increased 3.5 % YoY in Jan 2026, compared with a growth of 4.1 % in the previous month
- New Zealand Money Supply M2 growth data is updated monthly, available from Mar 1989 to Jan 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 Jan 2026 in the chart:
What was New Zealand's M2 Growth in Jan 2026?
New Zealand Money Supply M2 increased 3.5 % YoY in Jan 2026, compared with a growth of 4.1 % in the previous month See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 3.5 Jan 2026 | 4.1 Dec 2025 | -1.0 May 1999 | 15.7 Oct 1996 | % | monthly | Mar 1989 - Jan 2026 |
M2 Growth by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 13.5 Jan 2026 | monthly | Dec 1994 - Jan 2026 |
| Algeria (%) | 9.0 Dec 2024 | monthly | Jan 2002 - Dec 2024 |
| Argentina (%) | 36.9 Dec 2025 | monthly | Jan 1991 - Dec 2025 |
| Armenia (%) | 22.0 Dec 2025 | monthly | Jan 2003 - Dec 2025 |
| Australia (%) | 7.3 Jan 2026 | monthly | Mar 1966 - Jan 2026 |
| Austria (%) | 3.6 Jan 2026 | monthly | Sep 1998 - Jan 2026 |
| Azerbaijan (%) | 6.9 Oct 2025 | monthly | Dec 1996 - Oct 2025 |
| Bahrain (%) | 5.9 Jan 2026 | monthly | Dec 1975 - Jan 2026 |
| Bangladesh (%) | 9.6 Dec 2025 | monthly | Jun 1987 - Dec 2025 |
| Belarus (%) | 25.1 Dec 2025 | monthly | Dec 1990 - Dec 2025 |
| Belgium (%) | 2.8 Jan 2026 | monthly | Dec 1997 - Jan 2026 |
| Bolivia (%) | 17.6 Dec 2025 | monthly | Dec 1988 - Dec 2025 |
| Bosnia and Herzegovina (%) | 9.7 Jan 2026 | monthly | Aug 1998 - Jan 2026 |
| Botswana (%) | 0.8 Nov 2025 | monthly | Jan 2002 - Nov 2025 |
| Brazil (%) | 11.8 Jan 2026 | monthly | Jan 1971 - Jan 2026 |
| Bulgaria (%) | 6.6 Dec 2025 | monthly | Dec 1996 - Dec 2025 |
| Cambodia (%) | 12.2 Jan 2026 | monthly | Jan 1996 - Jan 2026 |
| Canada (%) | 4.7 Dec 2025 | monthly | Jan 1969 - Dec 2025 |
| Chile (%) | 3.9 Jan 2026 | monthly | Jan 1987 - Jan 2026 |
| China (%) | 9.0 Jan 2026 | monthly | Mar 1997 - Jan 2026 |
| Colombia (%) | 12.5 Jan 2026 | monthly | Dec 1980 - Jan 2026 |
| Croatia (%) | 6.6 Dec 2025 | monthly | Jun 1995 - Dec 2025 |
| Cyprus (%) | -5.2 2014 | yearly | 2006 - 2014 |
| Czech Republic (%) | 4.0 Jan 2026 | monthly | Jan 2003 - Jan 2026 |
| Denmark (%) | 2.7 Jan 2026 | monthly | Jan 1992 - Jan 2026 |
| Ecuador (%) | 13.9 Nov 2025 | monthly | Dec 2007 - Nov 2025 |
| Egypt (%) | 18.7 Jan 2026 | monthly | Jan 1997 - Jan 2026 |
| Estonia (%) | 3.5 Jan 2026 | monthly | Jan 2012 - Jan 2026 |
| European Union (%) | 4.0 Jan 2026 | monthly | Jan 1981 - Jan 2026 |
| Finland (%) | 4.8 Jan 2026 | monthly | Jan 1981 - Jan 2026 |
| France (%) | 1.0 Jan 2026 | monthly | Dec 1978 - Jan 2026 |
| Georgia (%) | 25.7 Jan 2026 | monthly | Oct 1996 - Jan 2026 |
| Germany (%) | 4.0 Jan 2026 | monthly | Jan 1970 - Jan 2026 |
| Ghana (%) | 30.3 Jun 2025 | quarterly | Mar 1991 - Jun 2025 |
| Greece (%) | 4.5 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Hong Kong SAR, China (%) | 9.9 Jan 2026 | monthly | Dec 1981 - Jan 2026 |
| Hungary (%) | 6.6 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Iceland (%) | 4.6 Jan 2026 | monthly | Sep 1987 - Jan 2026 |
| India (%) | 17.2 Dec 2025 | monthly | Mar 1995 - Dec 2025 |
| Indonesia (%) | 10.0 Jan 2026 | monthly | Feb 1969 - Jan 2026 |
| Iran (%) | 36.8 Sep 2025 | monthly | Dec 2000 - Sep 2025 |
| Ireland (%) | 5.4 Dec 2025 | monthly | Jan 2000 - Dec 2025 |
| Israel (%) | 6.0 Nov 2025 | monthly | Apr 1982 - Nov 2025 |
| Italy (%) | 2.5 Dec 2025 | monthly | Dec 1975 - Dec 2025 |
| Ivory Coast (%) | 22.8 Nov 2025 | monthly | Jan 2005 - Nov 2025 |
| Japan (%) | 1.6 Jan 2026 | monthly | Jan 1968 - Jan 2026 |
| Jordan (%) | 5.7 Jan 2026 | monthly | Jan 1991 - Jan 2026 |
| Kazakhstan (%) | 14.3 Jan 2026 | monthly | Dec 1994 - Jan 2026 |
| Kenya (%) | 10.7 Nov 2025 | monthly | Dec 1996 - Nov 2025 |
| South Korea (%) | 5.4 Dec 2025 | monthly | Jan 1971 - Dec 2025 |
| Kosovo (%) | 12.4 2024 | yearly | 2002 - 2024 |
| Kuwait (%) | 3.6 Dec 2025 | monthly | Jan 1995 - Dec 2025 |
| Kyrgyzstan (%) | 54.0 Dec 2025 | monthly | Jan 1995 - Dec 2025 |
| Laos (%) | 19.1 Dec 2025 | quarterly | Dec 2000 - Dec 2025 |
| Latvia (%) | 7.8 Jan 2026 | monthly | Jan 2015 - Jan 2026 |
| Lebanon (%) | 34.4 Nov 2025 | monthly | Dec 1980 - Nov 2025 |
| Lithuania (%) | 8.4 Jan 2026 | monthly | Dec 1994 - Jan 2026 |
| Luxembourg (%) | 5.6 Jan 2026 | monthly | Jan 2000 - Jan 2026 |
| Macau SAR, China (%) | 9.3 Jan 2026 | monthly | Jun 1985 - Jan 2026 |
| North Macedonia (%) | 11.6 Jan 2026 | monthly | Jan 2004 - Jan 2026 |
| Malawi (%) | 51.0 Sep 2025 | monthly | Jan 1976 - Sep 2025 |
| Malaysia (%) | 3.7 Jan 2026 | monthly | Dec 1970 - Jan 2026 |
| Malta (%) | 4.7 Jan 2026 | monthly | Jan 2009 - Jan 2026 |
| Mauritius (%) | 8.5 Dec 2025 | monthly | Jul 1977 - Dec 2025 |
| Mexico (%) | 7.2 Jan 2026 | monthly | Dec 1986 - Jan 2026 |
| Moldova (%) | 14.6 Dec 2025 | monthly | Jan 2001 - Dec 2025 |
| Mongolia (%) | 13.9 Jan 2026 | monthly | Dec 1997 - Jan 2026 |
| Montenegro (%) | 9.9 2024 | yearly | 2003 - 2024 |
| Morocco (%) | 11.6 Jan 2026 | monthly | Jan 1986 - Jan 2026 |
| Mozambique (%) | 11.9 Oct 2025 | monthly | Dec 2002 - Oct 2025 |
| Myanmar (%) | 25.0 Jun 2025 | quarterly | Dec 2002 - Jun 2025 |
| Nepal (%) | 14.2 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Netherlands (%) | 3.5 Dec 2025 | monthly | Dec 1957 - Dec 2025 |
| New Zealand (%) | 3.5 Jan 2026 | monthly | Mar 1989 - Jan 2026 |
| Nigeria (%) | 11.0 Jan 2026 | monthly | Apr 1991 - Jan 2026 |
| Norway (%) | 6.5 Jan 2026 | monthly | Dec 1993 - Jan 2026 |
| Oman (%) | 4.3 Sep 2025 | monthly | Jan 2000 - Sep 2025 |
| Pakistan (%) | 17.1 Jan 2026 | monthly | Jan 1989 - Jan 2026 |
| Palestinian Territory (%) | 15.1 Jan 2026 | monthly | Jul 2003 - Jan 2026 |
| Panama (%) | 8.4 Nov 2025 | monthly | Dec 2003 - Nov 2025 |
| Paraguay (%) | 12.6 Jan 2026 | monthly | Dec 1989 - Jan 2026 |
| Peru (%) | 8.8 Jan 2026 | monthly | Jan 1993 - Jan 2026 |
| Philippines (%) | 7.5 Dec 2025 | monthly | Dec 1989 - Dec 2025 |
| Poland (%) | 9.8 Jan 2026 | monthly | Dec 1997 - Jan 2026 |
| Portugal (%) | 5.4 Jan 2026 | monthly | Dec 1980 - Jan 2026 |
| Qatar (%) | 3.5 Dec 2025 | monthly | Jan 1983 - Dec 2025 |
| Romania (%) | 6.9 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| Russia (%) | 9.7 Jan 2026 | monthly | Dec 1992 - Jan 2026 |
| Saudi Arabia (%) | 7.9 Jan 2026 | monthly | Jan 1994 - Jan 2026 |
| Serbia (%) | 7.2 Jan 2026 | monthly | Aug 2002 - Jan 2026 |
| Singapore (%) | 5.7 Jan 2026 | monthly | Mar 2005 - Jan 2026 |
| Slovakia (%) | 5.6 Jan 2026 | monthly | Dec 2001 - Jan 2026 |
| Slovenia (%) | 6.9 Jan 2026 | monthly | Jan 2008 - Jan 2026 |
| South Africa (%) | 6.9 Jan 2026 | monthly | Mar 1966 - Jan 2026 |
| Spain (%) | 5.2 Jan 2026 | monthly | Jan 1963 - Jan 2026 |
| Sri Lanka (%) | 11.3 Dec 2025 | monthly | Jan 1995 - Dec 2025 |
| Sudan (%) | 74.7 Dec 2025 | monthly | Dec 2004 - Dec 2025 |
| Sweden (%) | 4.7 Jan 2026 | monthly | Jan 1999 - Jan 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 (%) | -1.0 Sep 2025 | quarterly | Dec 1999 - Sep 2025 |
| Consolidated Fiscal Balance (USD mn) | 5,756.479 Sep 2025 | quarterly | Mar 1999 - Sep 2025 |
| Tax Revenue (USD mn) | 79,994.882 2025 | yearly | 1999 - 2025 |
| Tax Revenue: % of GDP (%) | 31.2 2024 | yearly | 1999 - 2024 |
| National Government Debt (USD mn) | 123,654.9 Sep 2025 | quarterly | Dec 2006 - Sep 2025 |
| Government Debt: % of GDP (%) | 48.5 Sep 2025 | quarterly | Dec 2006 - Sep 2025 |
| Forecast: Government Expenditure (NZD bn) | 204.048 2030 | yearly | 1985 - 2030 |
| Forecast: Government Net Debt (NZD bn) | 292.813 2030 | yearly | 1985 - 2030 |
| Forecast: Government Revenue (NZD bn) | 204.003 2030 | yearly | 1985 - 2030 |
| General Government: ytd: Borrowings: Gross Sovereign Issued Debt Excluding Reser... (NZD mn) | 219,606.789 Dec 2025 | quarterly | Dec 2006 - Dec 2025 |
| General Government: ytd: Revenue (NZD mn) | 82,650.000 Dec 2025 | quarterly | Mar 1999 - Dec 2025 |
| General Government: ytd: Expenses (NZD mn) | 87,970.000 Dec 2025 | quarterly | Mar 1999 - Dec 2025 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 2.751 2030 | yearly | 1980 - 2030 |
| Trade Balance (USD mn) | -303.5 Jan 2026 | monthly | Jan 1960 - Jan 2026 |
| Total Exports (USD mn) | 3,634.3 Jan 2026 | monthly | Jan 1957 - Jan 2026 |
| Total Exports Growth (%) | 2.6 Jan 2026 | monthly | Jan 1952 - Jan 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) | 3,937.8 Jan 2026 | monthly | Jan 1960 - Jan 2026 |
| Total Imports Growth (%) | 1.9 Jan 2026 | monthly | Jan 1961 - Jan 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) | 429.198 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Total Imports from USA (USD mn) | 341.412 Jan 2026 | monthly | Jan 1981 - Jan 2026 |
| Total Exports to China (USD mn) | 948.267 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Total Imports from China (USD mn) | 1,035.326 Jan 2026 | monthly | Jul 1982 - Jan 2026 |
| Import Volume Index (Jun2002=1000) | 2,914.000 Dec 2025 | quarterly | Mar 1949 - Dec 2025 |
| Import Volume Index: sa (Jun2002=1000) | 2,788.000 Dec 2025 | quarterly | Jun 1990 - Dec 2025 |
| Export Volume Index: Exclude Re Export (Jun2002=1000) | 1,461.000 Dec 2025 | quarterly | Mar 1951 - Dec 2025 |
| Export Volume Index: Exclude Re Export: sa (Jun2002=1000) | 1,440.000 Dec 2025 | quarterly | Jun 1990 - Dec 2025 |
| Exports: fob: Australia (NZD mn) | 802.114 Jan 2026 | monthly | Jan 1988 - Jan 2026 |
| Exports: fob: United States (NZD mn) | 733.546 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: United Kingdom (NZD mn) | 169.611 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: China (NZD mn) | 1,577.085 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: Japan (NZD mn) | 288.149 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: Australia: sa (NZD mn) | 939.332 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: China: sa (NZD mn) | 1,620.692 Jan 2026 | monthly | Jul 1981 - Jan 2026 |
| Exports: fob: SITC: Manufacturing: Goods (NZD mn) | 246.084 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Exports: fob: SITC: Crude Materials (NZD mn) | 470.132 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Exports: fob: SITC: Food & Live Animals (NZD mn) | 4,150.584 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Exports: fob: SITC: Mineral Fuels (NZD mn) | 39.948 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Exports: fob: SITC: Manufacturing: Machinery & Transport Equipment (NZD mn) | 292.372 Jan 2026 | monthly | Jan 2002 - Jan 2026 |
| Term Trade Index (Jun2002=1000) | 1,593.000 Dec 2025 | quarterly | Mar 1957 - Dec 2025 |
| Import Value Index (2015=100) | 136.389 2021 | yearly | 1995 - 2021 |
| Export Value Index (2015=100) | 130.280 2021 | yearly | 1995 - 2021 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 0.5 Dec 2017 | quarterly | Mar 1996 - Dec 2017 |
| Household Debt: % of GDP (%) | 90.7 Sep 2025 | quarterly | Dec 1990 - Sep 2025 |
| Money Supply M1 (USD mn) | 78,697.786 Jan 2026 | monthly | Dec 2016 - Jan 2026 |
| Money Supply M2 (USD mn) | 267,163.748 Jan 2026 | monthly | Mar 1988 - Jan 2026 |
| M2 Growth (%) | 3.5 Jan 2026 | monthly | Mar 1989 - Jan 2026 |
| Foreign Exchange Reserves (USD mn) | 27,531.8 Jan 2026 | monthly | Sep 2005 - Jan 2026 |
| Foreign Exchange Reserves: % of GDP (%) | 9.441 Sep 2025 | quarterly | Sep 2005 - Sep 2025 |
| Foreign Exchange Reserves: Months of Import (NA) | 6.8 Jan 2026 | monthly | Sep 2005 - Jan 2026 |
| Gold Reserves (USD mn) | 0.000 Jan 2026 | monthly | Dec 1950 - Jan 2026 |
| Total Deposits (USD mn) | 292,971.169 Jan 2026 | monthly | Dec 2016 - Jan 2026 |
| Total Deposits Growth (%) | 3.3 Jan 2026 | monthly | Dec 2017 - Jan 2026 |
| Domestic Credit (USD mn) | 383,024.1 Jan 2026 | monthly | Mar 1988 - Jan 2026 |
| Domestic Credit Growth (%) | 4.3 Jan 2026 | monthly | Mar 1989 - Jan 2026 |
| Credit to Households (USD bn) | 238.472 Jun 2025 | quarterly | Dec 1990 - Jun 2025 |
| Credit to Private Non-Financial Sector (USD bn) | 423.842 Jun 2025 | quarterly | Mar 1960 - Jun 2025 |
| Household Debt (USD mn) | 246,122.8 Jan 2026 | monthly | Dec 1990 - Jan 2026 |
| Total Loans (USD mn) | 365,576.199 Jan 2026 | monthly | Dec 2016 - Jan 2026 |
| Total Loans Growth (%) | 4.86 Jan 2026 | monthly | Dec 2017 - Jan 2026 |
| Private Debt: % of Nominal GDP (%) | 136.73 Sep 2025 | quarterly | Mar 1988 - Sep 2025 |
| Depository Corp: Money Supply: Broad Money: Narrow Money (NZD mn) | 130,122.000 Jan 2026 | monthly | Dec 2016 - Jan 2026 |
| Depository Corp: Domestic Credit (NZD mn) | 633,307.000 Jan 2026 | monthly | Mar 1988 - Jan 2026 |
| Depository Corp: Money Supply: Broad Money (NZD mn) | 441,739.000 Jan 2026 | monthly | Mar 1988 - Jan 2026 |
| Official Reserve Assets (NZD mn) | 51,186.566 Jan 2026 | monthly | Sep 2005 - Jan 2026 |
| Official Reserve Assets: Foreign Currency Reserves (NZD mn) | 33,411.681 Jan 2026 | monthly | Sep 2005 - Jan 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 (%) | 79.100 Mar 2026 | quarterly | Mar 2022 - Mar 2026 |
| House Price Inflation: Net Percent Expecting Higher (%) | -27.500 Mar 2026 | quarterly | Mar 2022 - Mar 2026 |
| Business Outlook Survey: Retail: Business Confidence Index (Point) | 63.000 Jan 2026 | monthly | Feb 1991 - Jan 2026 |
| Business Outlook Survey: Manufacturing: Business Confidence Index (Point) | 76.900 Feb 2026 | monthly | Feb 1991 - Feb 2026 |
| Business Outlook Survey: All Industries: Business Confidence Index (Point) | 64.100 Jan 2026 | monthly | Feb 1991 - Jan 2026 |
| Business Outlook Survey: Service: Business Confidence Index (Point) | 61.300 Jan 2026 | monthly | Feb 1991 - Jan 2026 |
| Business Outlook Survey: Construction: Business Confidence Index (Point) | 61.700 Jan 2026 | monthly | Feb 1991 - Jan 2026 |
| Performance Manufacturing Index (NA) | 53.900 Jan 2026 | monthly | Aug 2002 - Jan 2026 |
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