Makrognosis

New Zealand Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:NZ

Model score85 / 1009 Nov 2026
Grade equivalentAA-model-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank16th of 84economies scored

Makrognosis sovereign credit model scores New Zealand at 85 out of 100 as of 9 November 2026, equivalent to AA- on the familiar letter scale — investment grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places New Zealand 16th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 61.1% of GDP, a fiscal balance of −5.2% of GDP, a current account balance of −3.6% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

New Zealand sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 202684868890Robomacro
New Zealand sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202684.9AA-
1 October 202684.9AA-
31 July 202684.9AA-
30 July 202686.7AA-
26 July 202685.3AA-
21 June 202690.4AA
18 June 202687.1AA-
Get the New Zealand sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/NZ"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/NZ",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for New Zealand, from official national and international statistics.

InputValueVintage
GDP per capitaUS$53,3052026
Real GDP growth, 5-year average2.1%2026
Inflation, recent average2.0%2026
Government debt61.1% of GDP2026
Fiscal balance−5.2% of GDP2026
Current account balance−3.6% of GDP2026
Foreign-exchange reserves3.9 months of imports2026
Governance (World Bank WGI composite)1.692026

How New Zealand compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
11Australia9 Nov 202690
12Japan9 Nov 202689
13United Kingdom9 Nov 202688
14Finland9 Nov 202688
15United States9 Nov 202687
16New Zealand9 Nov 202685
17South Korea9 Nov 202685
18India9 Nov 202684
19Austria9 Nov 202683
20France9 Nov 202682
21Singapore9 Nov 202682
22Jamaica9 Nov 202680

All 84 economies ranked →

New Zealand economic indicators

New Zealand GDP (Gross Domestic Product)New Zealand Nominal GDP, expenditure measure, calendar year (Stats SNEA.SG00NAC00B15D, NZD million)New Zealand Nominal GDP, expenditure measure, seasonally adjusted (Stats SNEQ.SG02NSC00B15, NZD million)New Zealand Real GDP, production measure, chain volume 2009/10 prices, calendar year (Stats SNEA.SG00RAC00B01D, NZD million)New Zealand Inflation Rate (CPI)New Zealand Trade Balance: Goods & ServicesNew Zealand Merchandise exports incl. re-exports, fob (Stats Overseas merchandise trade, actual values), NZD millionNew Zealand Merchandise imports, cif (Stats Overseas merchandise trade, actual values), NZD millionNew Zealand Government Debt to GDPNew Zealand Dollar per US DollarNew Zealand GDP implicit price deflator, expenditure measure, seasonally adjusted (Stats SNEQ.SG08NSC00B15, 2009/10=1000)New Zealand General government gross debt (Stats GFS, NZD mn, June year)New Zealand NZD per USD, calendar-month average of the official ECB euro-reference USD cross

FAQ

What is New Zealand's credit rating?
Makrognosis sovereign credit model scores New Zealand at 85/100 as of 9 November 2026, equivalent to AA- (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/NZ returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.