Income and sales growth continues in 2007

Embargoed until 10:45am – 3 October 2008

Income and sales growth continues in 2007

Total income for all New Zealand businesses increased to $523.9 billion for the 2007 financial year, according to latest figures from Statistics New Zealand. This is an increase of 6.3 percent ($31.2 billion) from the 2006 financial year, but is lower than the 6.9 percent increase in 2006. Sales of goods and services increased by 4.2 percent to $400.0 billion in 2007, following a 6.1 percent increase in 2006.

Total expenditure increased to $464.2 billion in 2007, up 4.5 percent. The two largest components of expenditure are purchases, and salaries and wages paid to employees. Purchases and other operating expenditure increased 4.3 percent to $296.1 billion in 2007, after an increase of 4.8 percent in 2006.

Salaries and wages paid to employees increased by 6.4 percent to $72.0 billion, following a 7.7 percent increase in 2006.

Surplus before income tax increased to $65.8 billion in 2007, up $11.4 billion (20.9 percent) from the 2006 financial year. This is largely due to an increase in non-operating income and a decrease in non-operating expenses.

Other financial variables and economic ratios by industry are available in the accompanying Hot Off The Press, and at a more detailed level on request.

This is the first year the Annual Enterprise Survey has been designed using the Australian and New Zealand Standard Industrial Classification 2006 (ANZSIC06). Results for 2007 have been published using ANZSIC06, with 2005 and 2006 results back-cast and also presented on this basis. Previous years have used the 1996 version of this classification. More about ANZSIC06 can be found on our website at: www.stats.govt.nz/economy/industry/introducing-anzsic-2006/.

The Annual Enterprise Survey is New Zealand's most comprehensive source of financial statistics, providing annual financial performance and financial position information about industry groups operating within New Zealand. Industries covered in the survey contribute approximately 90 percent of New Zealand's gross domestic product.

Geoff Bascand
Government Statistician
3 October 2008

ENDS

See also the Hot Off The Press information release I>Annual Enterprise Survey: 2007 financial year (provisional) [PDF].

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