New zealand disposable income
New Zealand's disposable income refers to the amount of money that households have available to spend or save after paying taxes and other essential expenses. Here are some key statistics on disposable income in New Zealand:
- Average disposable income: According to Statistics New Zealand, the average disposable income per household in New Zealand was NZD 63,000 (approximately USD 40,000) in the 2019/2020 financial year.
- Disposable income as a percentage of GDP: Disposable income accounts for around 70% of New Zealand's Gross Domestic Product (GDP). This means that about 70 cents out of every dollar earned in the country is available for households to spend or save.
- Regional variations: Disposable income varies significantly across different regions in New Zealand. For example, households in the Auckland region have an average disposable income of around NZD 85,000 (approximately USD 55,000), while those in the Southland region have an average disposable income of around NZD 45,000 (approximately USD 30,000).
- Income inequality: New Zealand has a relatively high level of income inequality, with the top 10% of households holding around 30% of the country's total disposable income. The bottom 10% of households, on the other hand, hold around 2% of the country's total disposable income.
- Trends: Disposable income in New Zealand has been growing steadily over the past few decades, driven by increases in employment, wages, and government transfers. However, the growth rate has slowed in recent years due to factors such as the COVID-19 pandemic and changes in government policies.
Here are some key statistics on disposable income in New Zealand:
- Average disposable income per household: NZD 63,000 (approximately USD 40,000)
- Disposable income as a percentage of GDP: 70%
- Regional variations in average disposable income:
- Auckland: NZD 85,000 (approximately USD 55,000)
- Wellington: NZD 65,000 (approximately USD 42,000)
- Southland: NZD 45,000 (approximately USD 30,000)
- Income inequality:
- Top 10% of households: hold around 30% of the country's total disposable income
- Bottom 10% of households: hold around 2% of the country's total disposable income
- Trends:
- Disposable income has been growing steadily over the past few decades
- Growth rate has slowed in recent years due to factors such as the COVID-19 pandemic and changes in government policies
It's worth noting that these statistics are based on aggregate data and may not reflect the individual circumstances of households in New Zealand. Additionally, disposable income is just one aspect of a household's financial situation, and other factors such as debt, savings, and financial stress can also be important indicators of financial well-being.