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National Accounts

In the year to September 2009, the New Zealand economy recorded annual average annual GDP growth of -2.2%. Growth in the September quarter was 0.2% following growth of 0.2% in the June quarter and -0.8% in the March quarter.

Gross Domestic Product and Gross National Expenditure (1)

The following table shows Gross Domestic Product and Gross National Expenditure in nominal terms for the last five March years:

Gross Domestic Product and Gross National Expenditure
  (dollar amounts in millions)
Year ended 31 March
2005 2006 2007 2008 2009
Compensation of Employees 64,483 69,394 73,453 77,567 80,669
Net Operating Surplus 48,238 49,168 50,373 56,410 54,889
Consumption of Fixed Capital 20,272 21,909 23,554 25,248 26,976
Indirect Taxes 19,197 20,384 21,544 22,634 23,167
Less Subsidies 490 581 596 599 899
Gross Domestic Product 151,701 160,273 168,328 181,259 184,802
Final Consumption Expenditure
General Government 26,363 28,702 31,105 33,848 36,798
Private 89,297 95,498 100,557 105,515 108,401
Physical Increase in Stocks 1,644 1,100 68 1,408 909
Gross Fixed Capital Formation 35,425 38,556 38,993 41,667 40,083
Gross National Expenditure 152,729 163,856 170,724 182,439 186,190
Exports of Goods and Services 43,504 43,932 48,276 51,536 56,916
Less Imports of Goods and Services 44,533 47,515 50,671 53,148 59,370
Expenditure on Gross Domestic Product 151,700 160,273 168,328 180,827 183,737

(1) 2009 data estimated. Prior years' data revised.

Real Gross Domestic Product
Real Gross Domestic Product
Sources:  Statistics New Zealand

Source: Statistics New Zealand

Gross Domestic Product by Production Group(1)

The following table shows Gross Domestic Product by major industries at constant 1995/96 prices:

Gross Domestic Product by Production Group
   (dollar amounts in millions) 
Year ended 31 March
2005 2006 2007 2008 2009 2009
% of Total
Finance Insurance & Business Services, etc 32,615 33,996 35,025 36,228 36,793 27.6%
Manufacturing 19,573 19,684 18,597 18,597 17,612 13.2%
Personal & Community Services 14,822 15,124 15,216 15,504 15,947 11.9%
Transport & Communication 12,903 13,387 13,536 14,304 14,334 10.7%
Retail, Accommodation, Restaurants 9,406 9,826 10,098 10,410 10,042 7.5%
Wholesale Trade 9,824 10,077 10,090 10,523 9,973 7.5%
Govt Administration & Defence 5,201 5,492 5,954 6,374 6,673 5.0%
Agriculture 6,143 6,504 6,647 6,472 6,310 4.7%
Construction 6,190 6,501 6,331 6,592 6,010 4.5%
Fishing, Forestry, Mining 2,634 2,755 2,709 3,419 3,335 2.5%
Electricity Gas & Water 2,526 2,441 2,602 2,509 2,522 1.9%
Gross Domestic Product    126,393 130,383 131,500 135,367 133,486 100.0%
Annual Average % change   3.7% 3.2% 0.9% 2.9% (1.4%)
Primary Industries        8,866 9,359 9,451 10,051 9,801 7.3%
Goods Producing Industries 28,323 28,651 27,679 27,833 26,305 19.7%
Services Industries       84,370 87,505 89,609 92,898 93,504 70.0%

(1) 2008 data estimated. Prior year's data revised.

Gross Domestic Product by Industry Group
Gross Domestic Product by Industry Group
Sources:  Statistics New Zealand

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