GDP 12 : the Bank's measure of trading partner demand

Release date
Vol. 67. No. 4. December 2004
Mark Smith
This article provides readers with the technical details of the Bank's measure of external demand. GDP-12, as it is known, is a summary measure that is used to help gauge trading partner demand for New Zealand's exports. Although GDP-12 is a useful summary measure, there are other external influences affecting the demand for our exports and economic activity more generally. Bearing this in mind, the Bank considers a wide range of developments in its monitoring and forecasting of the world economy.