National accounts - industry production and investment

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Abstract

This annual release contains detailed industry data on production, investment, and capital stock. We analyse the data in a supply-use balancing framework to reconcile the production, income, and expenditure measure of gross domestic product (GDP). All data in this release are in current prices, that is, they are not adjusted for the effect of changing prices over time. The release provides benchmarks for the level of economic activity, which update and maintain the quality of quarterly GDP statistics.

Purpose

Every day, millions of transactions take place in the New Zealand economy:

  • businesses buy and sell goods and services
  • government collects taxes and makes transfer payments to beneficiaries
  • people are paid for the work they do and use this income to buy food or pay rent.

Measuring these transactions is essential to understanding how the economy operates. These transactions are classified, measured, and recorded in the national accounts. The national accounts provide a convenient summary of the key economic and financial flows in New Zealand. They also provide a framework in which to analyse and compare important economic variables, such as household consumption and savings.

The national accounts are organised within the framework of the New Zealand System of National Accounts (NZSNA), which contains data collected from a wide and varied range of surveys and censuses, providing the necessary basis for subsequent socio-economic analysis.

The National accounts (industry production and investment) annual release presents detailed annual industry data on production, investment, and capital stocks. The data is analysed in a supply-use balancing framework to reconcile the production and expenditure GDP measures. It provides benchmarks for the level of economic activity within each industry, which update and maintain the quality of quarterly GDP statistics.

Each release contains tables on:

  • gross domestic product: production, income, and expenditure measures
  • industry output, intermediate consumption, value added, compensation of employees, and gross operating surplus
  • gross fixed capital formation and net capital stock, by asset type and industry
  • taxes on production and imports
  • agriculture outputs and inputs by product.

This release presents detailed information up to the latest balance year ended March.

  • In December 2016, the latest balanced year was the year ended March 2014, a time lag of about two and half years. However, this included provisional estimates of industry production and investment for the year ending March 2015, which provided an initial, unreconciled look at industry-level economic activity. This was an interim solution towards improving the timeliness of the balanced national accounts.

  • In 2017 we balanced the 2015 and 2016 years (years ended March), bringing this process forward a year. Therefore, in November 2017, the latest balanced year was the year ended March 2016, whereas previously it would have been 2015. This improvement means that quarterly GDP measures are benchmarked to a more-recent view of economic activity, and also means we can deliver more timely industry and commodity-level detail in our regional GDP releases and the tourism satellite accounts.

The process of balancing and reconciling the annual current-price production, income and expenditure estimates of GDP components results in revisions from the numbers published in previous years.

See the Annual national accounts sources and methods for more information.

Citation Information

Title

National accounts - industry production and investment

Creator

Stats NZ

Publisher

Stats NZ

Rights

Stats NZ

Coverage Information

Temporal Coverage

  • 2010 to present

Topical Coverage

  • Agriculture
  • Capital formation
  • Capital stocks
  • Compensation of employees
  • GDP
  • Gross domestic product
  • Gross operating surplus
  • Gross operating surplus and gross mixed income
  • Industry benchmarks
  • Industry output
  • Industry production and investment
  • Intermediate consumption
  • National accounts
  • Supply-use balancing
  • Taxes and subsidies
  • Value added

Other

Frequency

4 Annual

Significant events impacting this study series

National accounts (industry production and investment) replaced National accounts (industry benchmarks) in December 2016.

National accounts (industry benchmarks), last published in November 2015, replaced National accounts in November 2012.

The titles of these releases were changed to reflect the increased focus on industry and then investment data in these releases.

Main users of the data

Reserve Bank New Zealand, The Treasury, MBIE, various government offices, banks, international organisations (eg OECD), and others

Revision Information

Currently viewing revision 107 by on 22/11/2017 10:36:17 p.m.

Revision 107 *
23/11/2017 9:47:12 p.m.
Revision 31
1/07/2016 1:41:08 a.m.

Identifiers

DDI Agency
nz.govt.stats
DDI Id
48c58c28-4b3d-4a08-aa91-8af0f878c37d
DDI Version
107

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