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National Accounts (Income and Expenditure): Year ended March 2015
Embargoed until 10:45am  –  20 November 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, Gross domestic product and gross domestic product per capita, 2001-15.

Provisional estimates for the year ended March 2015:

  • New Zealand’s gross domestic product (GDP) was $241.2 billion – up 3.7 percent from 2014.
  • National saving continued to increase.
  • Lower global milk prices contributed to a lower operating surplus, and lower household income from farming.
  • Household saving continued its decline since 2012, falling to negative $0.9 billion.
  • Household income increased more slowly than in 2014, as farming and dividend income fell. 
  • Household spending was up 3.3 percent, led by spending on housing, household utilities, transport, and restaurants and hotel services.
  • Government saving increased, due to higher tax revenue.
  • Investment in residential building and non-residential building increased strongly. 
  • High levels of investment were seen across most asset types, with an 11.5 percent increase in gross fixed capital formation – the largest increase since 2004.

Liz MacPherson, Government Statistician
ISSN 2324-1896
20 November 2015

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