Rising property values helped lift New Zealand’s net worth to just over $1.39 trillion at 31 March 2015, up 9 percent on 2014, Stats NZ said today.
“Net worth reflects the balance of what New Zealanders own and what they owe – that is, assets minus debts held by households and government,” national accounts senior manager Gary Dunnet said.
Except for a 3 percent decline in 2009, net worth has grown steadily since 2007 – from just over $1 trillion in 2007 to $1.39 trillion in 2015.
Graph, New Zealand's net worth,at 31 March, 2007–15
From 2007 to 2015, household net worth increased $319 billion (35 percent), to about $1,236 billion. Investment in land and buildings (non-financial assets) was a significant contributor to this increase, although this was partly offset by increased mortgage debt (loans liabilities).
Over the eight years, households also built up wealth through increased bank deposits (up 58 percent), investment in business shares (up 28 percent), and insurance and superannuation funds (up 90 percent).
The value of all assets owned by New Zealanders was nearly $4.0 trillion ($3,953 billion) in 2015. This figure consisted of financial assets (cash and deposits, loans, and investments) and non-financial assets (land and buildings; plant, machinery and equipment; and business inventories) valued at $2,404 billion and $1,549 billion, respectively.
All financial liabilities totalled $2,557 billion in 2015, with the largest contributions coming from equity (37 percent), and loans (30 percent).
Over the 2007–15 period, the net amount New Zealanders owed to the rest of the world rose from $130 billion to $153 billion.
“This first release of balance sheet statistics marks a significant milestone in our ongoing work to achieve a full set of national accounts,” Mr Dunnet said.
“Balance sheets help to relate economic growth to the accumulation of wealth, and to understand how financial shocks affect the productive economy. By filling these gaps, government, businesses, and households will have more economic information to make better decisions.”
Balance sheets are used to provide estimates of assets, liabilities, and net worth held by New Zealand businesses, households, and government.
Annual balance sheets are now part of Stats NZ’s suite of annual macroeconomic statistics. In coming years, we’ll add related financial information, including quarterly balance sheets and flow-of-funds estimates.Information in this release is based on data from a range of sources, some of which is only available up to 2015.
French Polynesia begins in New Zealand
He looks like the star of a television series set in the 1950s about British country doctors or family solicitors of those solid and dependable times. But former French premier Francois Fillon considered by the English-speaking world to be a shoo-in for his country’s presidency is now looking anything but a winner.
In recent weeks the Mr Clean of europolitics has found himself be-spattered in every variety of calumny and remarkable even for a country renowned for its political spoils system.
The hapless Mr Fillon is looking less and less like the fulcrum around which will rally the centrist forces in the event of a first round win by the National Front’s Marine Le Pen.
At the cusp of the 1960s/1970s France was the focus of New Zealand’s global trade interest for the way in which it was perceived to be throwing a spanner into the primary produce works as Britain made its transition into the Common Market, as the EU was then described.
Yet in a bizarre about turn France has now become as important to New Zealand industrially as Britain was in those days.
This is artfully concealed from public view though by a politico-media determination to keep the trade spotlight on Asia and the Middle East
Here though are just some of the French companies that dominate their sectors in New Zealand:- ‘
* Veolia Water and commuter transport in Wellington and Auckland. Controls Transdev * Axa Finance – (controls AMP) * Pernod Ricard Owns Montana * Lafarge Holcim Cement * Schneider Electrical manufacturer, formerly PDL * Accor Hotelier * Air Liquide Industrial n gases * Allflex Livestock management applications * Danone Dairy * Parmalat Dairy * Synlait Dairy * Alcatel Information technology * Thomson Air traffic control * Alstom Transport * Rexel Office supplies
This unacknowledged state of affairs took on a humorous form when one of the New Zealand government start-up technology incentive funds invested in what appeared to be a local computer games producer only to find out that it was in fact controlled by Vincent Bollore.
He is known as the Breton Raider, and who from his gigantic holdings in transport and commodities in Africa has devolved into the leisure-entertainment sector.
The officially encouraged focus on the East contains a romantic Prester John–like flavour in refusing to acknowledge how hard it is for anyone but the very biggest traders to actually get paid from anyone in these regions.
It also shrouds the mercantile dependence on a country such as France. This is demonstrated by a French trade deficit of $845 million in 2014. In France’s favour.
Back now to Mr Fillon who until a few weeks ago was considered the favourite for the Elysees and thus the man to usher in New Zealand’s EU trade agreement.
His role even as the rallying point as the second round coalition leader in the French presidential double is now being questioned.
The favourites now are the National Front’s Marine Le Pen head-to-head with the former Socialist Party economics minister Emmanuel Macron and his own personal party France on the Move.
For Mr Fillon trouble does not travel alone. Not only is he being charged with putting his family on his parliamentary payroll, and for influence peddling, which is all pretty much part of French political life anyway.
In the unkindest cut of all he is also being accused of receiving his fine-cut English style suits as gifts from wealthy benefactors.
| From The This email address is being protected from spambots. You need JavaScript enabled to view it. \ Friday 31 March 2017 \\\
Energy and Resources Minister Judith Collins is leading a petroleum sector trade delegation to Texas and an electricity sector trade delegation to Silicon Valley next week.
Ms Collins will be accompanied by a petroleum sector delegation, which includes representatives from New Zealand Oil and Gas, Todd Energy and the Petroleum Exploration & Production Association of New Zealand, to Texas.
In Texas, Ms Collins will be attending the American Association of Petroleum Geologists’ Annual Convention & Exhibition in Houston, as well as meeting with exploration and service companies to discuss investment opportunities in New Zealand.
Ms Collins will then lead an electricity sector delegation, which includes representatives from Mercury, Contact Energy, Vector, Power Systems Consultants and Genesis Energy, to California’s Silicon Valley.
“The electricity sector is going through a lot of change internationally and the trade mission to Silicon Valley will help New Zealand companies learn about the opportunities with emerging technologies, support New Zealand businesses looking to partner with US firms, and encourage electric vehicle manufacturers to enter the New Zealand market.”
The delegation to Silicon Valley is due to make calls on Tesla’s electric vehicle plant, Siemens, Volkswagen, energy technology company Enphase, Plugshare, SolarCity, Pacific Gas & Electric, Wrightspeed and Californian State energy regulators.
Ms Collins will be in the United States from 1 to 7 April.
| A Beehive release | March 31, 2017 |||
Twelve of the 15 regional economies in New Zealand recorded nominal GDP increases in the year ended March 2016, Stats NZ said today.
Provisional estimates show the largest percentage increases were in the Bay of Plenty (7.7 percent), Auckland (6.0 percent), and Otago (4.8 percent). The national increase was 4.1 percent.
“The Bay of Plenty’s increase was underpinned by strong performances across the professional and administrative services, and agriculture, primarily kiwifruit,” senior national accounts manager Gary Dunnet said.
“The increase in Auckland was driven by the professional services, finance, and transport industries.”
Decreases were recorded in Taranaki (8.5 percent), the West Coast (2.8 percent), and Southland (1.0 percent).
“These decreases reflected a fall in mining and agriculture activity, mainly from the impact of lower international prices for oil, coal, and dairy products,” Mr Dunnet said.
Despite a fall in the region’s GDP, Taranaki retained the highest GDP per capita ($71,297), followed by Wellington ($67,888) and Auckland ($58,717). The Northland region had the lowest GDP per capita ($36,531). The national average was $54,178.
New Zealand's regional economies 2016 visually presents the key measures of the 15 regional economies.
This year's regional GDP release includes an additional year of provisional data for 2015 about regional industry activity.
Regional Gross Domestic Product: Year ended March 2016 – for more data and analysis
| A STATSNZ release | March 30, 2017 |||
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In a bid to get around terrestrial height restrictions, Clouds Architecture Office has proposed suspending the world's tallest skyscraper from an asteroid, leaving residents to parachute to earth.
New York-based Clouds Architecture Office drew up plans for Analemma Tower to "overturn the established skyscraper typology" by building not up from the ground but down from the sky by affixing the foundations to an orbiting asteroid.
"Harnessing the power of planetary design thinking, it taps into the desire for extreme height, seclusion and constant mobility," said the architects, who have previously drawn up proposals for space transportation and a 3D-printed ice house on Mars.
"If the recent boom in residential towers proves that sales price per square foot rises with floor elevation, then Analemma Tower will command record prices, justifying its high cost of construction."
Continue here on de zeen to read the full article with images | March 30, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242