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National Accounts

In the year to September 2015, the New Zealand economy recorded annual average growth in real production GDP of 2.9%. Growth in the September 2015 quarter was 0.9% following growth of 0.3% in the June quarter and 0.2% in the March quarter.

The following table shows Gross Domestic Product and Gross National Expenditure in nominal terms for the five years to March 2015.

Table 6 - Gross Domestic Product and Gross National Expenditure[1]
Year ended 31 March
(dollar amounts in millions)
2011 2012 2013 2014 2015
Compensation of employees 88,831 92,305 94,901 98,887 104,425
Net operating surplus 59,829 63,255 63,703 71,862 71,958
Consumption of fixed capital 29,977 30,280 31,034 31,945 33,467
Indirect taxes 25,949 28,476 29,308 30,689 32,184
Less subsidies 1,152 1,075 951 910 847
Gross Domestic Product 203,434 213,241 217,995 232,473 241,187
Final consumption expenditure          
General government 39,767 41,406 41,877 43,535 44,977
Private 118,143 124,940 128,792 133,673 138,157
Physical increase in stocks 862 1,268 803 1,679 537
Gross fixed capital formation 39,992 42,326 45,010 48,508 54,090
Gross National Expenditure 198,765 209,941 216,482 227,396 237,761
Exports of goods and services 61,559 64,749 62,765 66,998 67,482
Less imports of goods and services 56,891 61,448 61,252 63,323 65,778
Expenditure on Gross Domestic Product 203,433 213,241 217,995 231,071 239,465

Source: Statistics New Zealand

  • [1]2014 and 2015 data provisional. Prior years' data revised.
Figure 1 - Real Gross Domestic Product
Figure 1 - Real Gross Domestic Product.
Sources:  Statistics New Zealand, the Treasury

The following table shows GDP by major industries at constant 1995/96 prices.

Table 7 - Gross Domestic Product by Production Group[2]
Year ended 30 September
(dollar amounts in millions)
2011 2012 2013 2014 2015 2015
% of Total
Rental, hiring and real estate services 26,436 27,434 27,945 28,425 29,238 13.2
Manufacturing 21,415 21,142 21,845 22,170 22,547 10.1
Professional, scientific, technical, administration and support 19,403 19,726 20,278 20,976 21,668 9.7
Retail trade and accommodation 12,457 13,000 13,480 14,023 14,969 6.7
Agriculture, forestry and fishing 10,681 11,998 12,153 12,883 13,727 6.2
Health care and social assistance 11,918 12,302 12,679 13,267 13,575 6.1
Construction 10,207 10,862 11,491 12,714 13,316 6.0
Financial and insurance services 11,496 11,779 12,281 12,722 13,082 5.9
Wholesale trade 10,705 10,905 11,115 11,490 11,461 5.2
Public administration and safety 8,890 8,851 9,017 9,240 9,497 4.3
Education and training 9,203 9,225 9,249 9,299 9,378 4.2
Transport, postal and warehousing 8,761 8,826 8,800 8,931 9,068 4.1
Information media and telecommunications 6,384 6,551 6,761 6,780 7,039 3.2
Arts, recreation and other services 6,486 6,564 6,748 6,837 6,933 3.1
Electricity, gas, water and waste services 6,205 6,160 6,281 6,405 6,496 2.9
Mining 3,524 3,324 3,470 3,800 3,737 1.7
Production GDP 198,567 204,002 209,219 215,895 222,246 100.0
Annual Average % change 1.1 2.8 2.3 3.0 3.3  
Primary industries 14,215 15,507 15,756 16,827 17,589 7.9
Goods-producing industries 37,817 38,153 39,591 41,208 42,258 19.0
Service industries 132,138 135,158 138,297 141,913 145,813 65.6

Source: Statistics New Zealand

  • [2]2015 data estimated. Prior years' data revised.
Figure 2 - Gross Domestic Product by Industry Group
Figure 2 - Gross Domestic Product by Industry Group.
Sources:  Statistics New Zealand, the Treasury
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