Hon GRANT ROBERTSON (Minister of Finance): Today, Statistics New Zealand reported GDP data for the December 2020 quarter. This shows that the New Zealand economy does remain resilient and among the best in the world, despite the impact of the COVID-19 pandemic. The data shows the volatility that the New Zealand economy has to deal with. Today's percentage drop follows the record 13.9 percent increase in the September quarter and an 11 percent drop in the June quarter. Statistics New Zealand reported that the size of the economy in 2020 was $322 billion. This was larger than in the year to December 2019 and above Treasury's half-yearly forecast published in December, which had picked that the economy would be $307 billion at this point. Today's figures reinforce the steps the Government is taking to support the economy and secure the recovery from COVID-19. Our economy continues to lead the world off the back of our strong health response.