National Accounts: Year ended March 2008

Embargoed until 10:45am  –  13 November 2008
Media release  – 
Business profits lift saving


  • Current price gross domestic product (GDP) increased 7.0 percent, while GDP per capita increased 5.9 percent.
  • National saving rose to $2,934 million, up from $1,586 million in the previous March year.
  • Gross national income increased 6.6 percent, driven by gross operating surplus (profits) up 8.5 percent and compensation of employees up 6.0 percent.  


  • Final consumption expenditure increased, with household spending up 5.0 percent. Central and local government expenditure increased 8.2 percent and 6.1 percent, respectively.
  • Capital investment increased 8.9 percent. Fixed asset investment increased 6.0 percent, with a build-up in inventories of $1,395 million.
  • Net borrowing from overseas increased from $14,243 million to $14,984 million in the year ended March 2008.


 Graph, Gross Domestic Product and Gross Domestic Product per Capita.

Geoff Bascand
Government Statistician
13 November 2008
ISSN 1178-0568