Source: MIL-OSI Submissions
Business assets reach almost $2.0 trillion – At the end of the 2017 financial year, New Zealand businesses held assets valued at almost $2.0 trillion ($1,969 billion), Stats NZ said today.
“The value of business assets continued to increase in 2017, up 2.9 percent,” national accounts senior manager Gary Dunnet said.
This rate was below the level of growth in the previous two years, when assets increased 6.1 percent in 2016 and 6.2 percent in 2015.
Since 2013, the fastest growth occurred in the value of fixed assets (eg buildings, and plant and equipment) up 22.1 percent. Current assets (eg cash and deposits) increased 15.9 percent and other assets increased 18.6 percent during this period.
Growth in fixed assets remained high for the last three years, peaking in 2015 at 8.6 percent. In 2017, the value of fixed assets increased 5.8 percent.
“In 2017, almost three-fifths of the value of New Zealand’s business fixed assets were held in only two industry groups,” Mr Dunnet said. These two groups were agriculture, forestry and fishing; and rental, hiring and real estate services.
In agriculture, forestry and fishing, 92.2 percent of fixed assets sit in farming industries. In rental, hiring and real estate services, 92.7 percent of fixed assets are held by commercial property operators.
These two industry groups have also dominated growth since 2013. Agriculture, forestry and fishing had a growth of 20.2 percent in fixed asset value, while that for rental, hiring and real estate services grew 32.7 percent. Other industry groups combined saw a 15.1 percent increase in the value of their fixed assets.
The Annual Enterprise Survey (AES) is New Zealand’s most comprehensive source of financial statistics covering almost 469,000 businesses. It provides annual information on the financial performance and financial position for industry groups operating in New Zealand.
In AES 2017, more detailed information is freely available. Downloadable tables have more years of data, and Business Performance Benchmarker now has benchmarks for over 200 industries.
For more information about these statistics: