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Source: MIL-OSI Submissions

National accounts (income and expenditure): Year ended March 2021 – information release

19 November 2021

Key facts

Provisional estimates for the year ended March 2021:

These accounts are measured in current prices, which means they measure nominal changes in macroeconomic aggregates before accounting for price inflation.

  • New Zealand’s gross domestic product (income measure) was $326.5 billion – up 0.8 percent from year ended March 2020.
  • Net national disposable income was up $2.1 billion, while final consumption expenditure increased by $9.2 billion, leading to a $7.1 billion decrease in national saving – down to $15.1 billion.
  • Household spending was up 1.9 percent; household net disposable income was up 5.1 percent. Household saving was $11.4 billion – up $6.1 billion.
  • General government saving was down $22.6 billion to -$17.4 billion.
  • Investment in residential building increased by 6.6 percent from the level of the year ended March 2020, while investment in many other fixed asset types fell substantially.

19 November 2021: In July 2021, we first released a new suite of experimental quarterly estimates for institutional sector accounts, balance sheets, and the nominal income measure of quarterly gross domestic product (GDP) to provide more timely data on New Zealand’s economy.

The data released in National accounts (income and expenditure): Year ended March 2021 will provide the benchmark for all non-provisional years (up to and including the year ended March 2020) in the National accounts (income, saving, assets, and liabilities): September 2021 quarter.

The provisional estimates for 2021 in National accounts (income and expenditure): Year ended March 2021 represent the official annual estimates for this period. Results will not fully reconcile with the new quarterly estimates, as these remain experimental.

Visit our website to read this information release and to download CSV files:

MIL OSI