New Zealand is increasingly at risk of severe droughts as highlighted by the Climate Change Commission's national risk assessment. The country’s northern and eastern regions are particularly vulnerable to worsening drought conditions. Historical analysis reveals that the most extreme droughts occurred before 1950, notably the 1914-15 drought, which produced unprecedented rainfall deficits. This drought was more severe than any recent events, such as the 2012-13 drought that impacted the entire North Island, which was estimated to reduce national GDP by 0.7%. Current assessments often overlook these historical extremes, relying instead on more recent data that may underestimate the potential severity of future droughts. As climate change continues to raise temperatures and increase evaporation, New Zealand may face drought conditions beyond anything experienced in recent memory. This necessitates urgent revisions to planning and risk assessments to better prepare for the challenges ahead.