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National Accounts (Income and Expenditure): Year ended March 2014 – corrected
Embargoed until 10:45am  –  30 January 2015
Key facts

The National Accounts (Income and Expenditure) release provides information on domestic production and the resulting income that is available for spending and saving. It also provides an insight into how saving is used and invested between different sectors of the economy.

Graph, National and sector saving, current price, 1999 to 2014.

Provisional estimates for the year ended March 2014:

  • New Zealand’s gross domestic product (GDP) was $229.7 billion.
  • Growth was reflected in higher operating profits for businesses, which drove up national income and saving.
  • Higher global milk prices resulted in higher business profits, export earnings, and household income from farming.
  • Revised estimates show positive household saving since 2010.
  • Government saving increased, due to higher tax revenue, driven by higher salaries and wages, household consumption, and business profits.
  • Investment in residential building and other construction continued to grow strongly due to the Canterbury rebuild.

Annual National Accounts republished on 30 January 2015

We republished National Accounts (Income and Expenditure): Year ended March 2014 on 30 January 2015. We did this to correct an error in the 2014 current-price estimates for taxes on production and imports that were published on 21 November 2014.

See Corrections and revisions for more information.

Liz MacPherson, Government Statistician
ISSN 2324-1896
30 January 2015

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