National accounts (industry production and investment): General information

General information GDP and expenditure on GDP GDP is a measure of the value added from all economic activity in New Zealand. The consolidated accounts of the nation show the main forms of income generated by the economy and the categories of final expenditure on GDP. Supply and use balancing Annual current-price production and expenditure estimates of GDP components are reconciled within the supply and use framework. This framework provides a powerful statistical and analytical tool within which to balance the flows of goods and services in the economy. Within the framework we present a detailed analysis of the production and use of goods and services, and the incomes generated in that production. The accounts are balanced when, for all industries, total inputs equal total outputs; and, for products, total supply equals total demand. As a result, the statistical discrepancy between the measures of GDP is zero in the years for which we carry out balancing. The supply and use approach also provides the basis for checking consistency of the measures for the supply and use of goods and services, which are estimated from quite different statistical sources. This data confrontation results in balanced GDP and expenditure accounts. We create analytical tables, known as supply and use tables, to be used for supply and use data confrontation. This approach leads to improved accuracy for key national accounts measures, such as GDP, gross national expenditure, national disposable income, and their components. Sources and methods for annual national accounts We have released a pilot guide to the data and methods used to compile the annual national accounts in New Zealand. The primary purpose of the guide is to provide and outline the data and methods we currently use to compile particular published statistics, released as National accounts (industry production and investment), previously titled National accounts (industry benchmarks), and National accounts (income and expenditure). Annual national accounts sources and methods provides an overview of the conceptual framework of the national accounts, and other information, to help interpret the sources and methods in the three sets of tables attached to the guide: industry expenditure institutional sector accounts. We welcome feedback on the coverage and content of this document. Please send your feedback to [email protected] with “Sources and methods for annual national accounts” in the subject line. Confidentiality Australian and New Zealand Standard Industrial Classification 2006 (ANZSIC06) data is published in categories specified in the New Zealand Standard Industrial Output Classification (NZSIOC). See New Zealand Standard Industrial Output Classification for the NZSIOC industry levels. The annual national accounts are published at NZSIOC level 3, which has 55 industry categories. Some industries may be grouped to preserve the confidentiality of individual businesses. en-NZ