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New Zealand Economic and Financial Overview 2016

Selected Economic and Financial Data

Table 2 - Statistical Data
(dollar amounts in millions) 2011 2012 2013 2014 2015
GDP at Current Prices[1],[2] 203,433 213,241 217,995 231,071 239,465
Annual % Increase (Decrease) in Real GDP [1],[2][3] 1.4 2.2 2.2 2.5 3.2
Population[4] 4,386 4,411 4,447 4,513 4,600
Unemployment Rate[5] 6.4 6.8 6.1 5.8 5.3
Change in Consumer Price Index[6] 1.8 0.9 1.6 0.8 0.1
Exchange Rate[7] 0.7768 0.8236 0.8281 0.7822 0.6658
90-Day Bank Bill Rate[8] 2.71 2.64 2.69 3.67 2.84
10-Year Government Loan Stock Rate[8] 4.20 3.51 4.71 3.95 3.46
Terms of Trade Index[9] 1288 1170 1355 1351 1305
Current Account Deficit as a % of GDP [2],[10] (3.2) (3.6) (3.7) (2.5) (3.3)

Source: Statistics New Zealand

Table 3 - Government Finance[11]
Year ended 30 June
(dollar amounts in millions)
2010/11 2011/12 2012/13 2013/14 2014/15 2015/16[12]
Total Revenue 81,212 83,346 86,311 89,199 95,013 96,805
Total Expenses 99,608 92,586 90,663 91,842 94,272 96,722
OBEGAL[13] (18,396) (9,240) (4,414) (2,802) 414 (401)
Gains/(Losses) 5,036 (5,657) 11,339 5,741 5,357 699
Operating Balance (13,360) (14,897) 6,925 2,939 5,771 298
Operating Balance % of GDP (6.6) (7.0) 3.2 1.3 2.4 0.1
Total Assets 245,215 240,318 244,416 256,824 278,703 282,731
Total Liabilities 164,328 180,538 174,405 176,127 186,467 189,993
Minority Interests 308 432 1,940 5,211 5,782 5,876
Net Worth 80,579 59,348 68,071 75,486 86,454 86,862
Net Direct Domestic Borrowing 18,362 8,557 76 4,764 3,418 -
Net Direct Overseas Borrowing 787 (1,450) (1,010) 278 (514) -

Source: The Treasury

Table 4 - Direct Public Debt
Year ended 30 June
(dollar amounts in millions)
2010/11 2011/12 2012/13 2013/14 2014/15 2015/16
Internal Funded Debt 60,519.9 64,006.2 67,587.3 73,121.6 69,828.8 -
Internal Floating Debt 7,326.0 10,081.0 4,735.0 3,800.0 7,100.0 -
External Debt 33.4 (308.5) (1,222.5) (342.7) 934.7 -
Total Direct Public Debt 68,059.9 73,778.7 71,099.8 76,578.9 78,303.6 -

Source: The Treasury

  • [1]Year ended 31 March.
  • [2]2015 data provisional. Prior years' data revised.
  • [3] Production based - chain volume series expressed in 2009/10 prices.
  • [4]September year resident population estimate.
  • [5]September quarter, seasonally adjusted.
  • [6]Annual percentage change, December quarter.
  • [7]US$ per NZ$ December quarter average.
  • [8]December quarterly average.
  • [9]Year ended 30 September. Base: June quarter 2002 = 1,000.
  • [10]Year ended 30 September.
  • [11]Financial Statements of the Government of New Zealand for the Year Ended 30 June 2015.
  • [12]Half Year Update announced 15 December 2015.
  • [13]Operating Balance Excluding Gains and Losses (OBEGAL). OBEGAL is the operating balance excluding gains and losses on assets and liabilities of institutions such as the Accident Compensation Corporation, Earthquake Commission and the Government Superannuation Fund.
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