INDEPENDENT NEWS

Business income rebounds in 2011

Published: Fri 31 Aug 2012 10:50 AM
Business income rebounds in 2011
Embargoed until 10:45am – 31 August 2012
Total income for New Zealand businesses rebounded in the 2011 financial year, Statistics New Zealand said today. Increased household spending and rising exports contributed to the growth in business activity.
Total income for all businesses increased 4.7 percent, to $575.4 billion. This followed a 4.2 percent decrease in the 2010 financial year. In 2011, income from sales of goods and services (up $23.2 billion or 5.5 percent) contributed the most to the overall increase. In comparison, sales of goods and services fell $13.5 billion in the 2010 financial year.
"Increases in most industries show that the New Zealand economy is recovering from its 2010 decline," industry and labour statistics manager Neil Kelly said. "In particular, manufacturing and agriculture recorded strong growth in 2011, due to increases in both domestic and external demand."
Total income increased $7.6 billion (8.6 percent) for the manufacturing industry and $4.1 billion (14 percent) for the agriculture industry. Financial and insurance services showed the largest decline in total income, down $1.4 billion (2.2 percent).
Total expenditure for all businesses increased to $533.3 billion in the 2011 financial year, up 7.0 percent.
This followed a 7.0 percent decrease in the 2010 financial year. Purchases and other operating expenditure contributed most to the overall increase, up 9.3 percent in 2011 compared with a 3.8 percent decrease in 2010.
Surplus before income tax dropped to $44.4 billion, down 11.9 percent from $50.4 billion in the 2010 financial year. This was primarily due to a strong $29.8 billion increase in purchases and other operating expenditure in 2011. The strongest increase in operating expenditure was recorded in the public administration and safety industry, up $8.6 billion (72.6 percent). This was due to a large increase in the Earthquake Commission's claim liabilities, following the 2010/11 Christchurch and Canterbury earthquakes.
Other financial variables, and economic ratios by industry, are available in Annual Enterprise Survey: 2011 (provisional), and at a more detailed level on request. For an example of more detailed data see Industry benchmarks.
The Annual Enterprise Survey is Statistics NZ’s most comprehensive source of financial statistics, providing annual financial performance and financial position information about businesses operating within New Zealand. The industries covered in the survey contribute approximately 90 percent of New Zealand’s gross domestic product.
Ends
AnnualEnterpriseSurvey11.pdf
aes11tablesbroadindustrygroup.xls

Next in Business, Science, and Tech

Shocking Stuff: Consumers In Lower Income Areas Paying More For Power
By: Consumer NZ
Understanding DDoS cyber attacks – Expert Reaction
By: Science Media Centre
FMA sees spike in investment scam complaints since COVID
By: Financial Markets Authority
GDP rises in the June 2021 quarter
By: Statistics New Zealand
$350 Million Plant To Deliver Renewable Energy-from-waste Considered
By: South Island Resource Recovery Limited
Olam confirms plans for commissioning of NZ dairy plant
By: Olam International
View as: DESKTOP | MOBILE © Scoop Media