Total Crown operating balance: NZ data and downloads
Total Crown operating balance was $−4,400 million in 2024/25, up $3,965 million on a year earlier.
Updated
Source: The Treasury (New Zealand). Last retrieved 10 October 2026.
Total Crown operating balance, $m, 1993/94 to 2024/25
Show the figures
| Period | Total Crown operating balance ($m) |
|---|---|
| 2024/25 | $−4,400 million |
| 2023/24 | $−8,365 million |
| 2022/23 | $5,321 million |
| 2021/22 | $−16,932 million |
| 2020/21 | $16,159 million |
| 2019/20 | $−30,040 million |
| 2018/19 | $389 million |
| 2017/18 | $8,396 million |
| 2016/17 | $12,317 million |
| 2015/16 | $−5,369 million |
| 2014/15 | $5,771 million |
| 2013/14 | $2,939 million |
| 2012/13 | $6,925 million |
| 2011/12 | $−14,897 million |
| 2010/11 | $−13,360 million |
| 2009/10 | $−4,509 million |
| 2008/09 | $−10,505 million |
| 2007/08 | $2,384 million |
| 2006/07 | $8,022 million |
| 2005/06 | $9,541.6 million |
2024/25Total Crown operating balance $−4,400 millionTreasury basis: PBE Standards
Lines break at accounting-basis changes and missing periods. Source: The Treasury (New Zealand).
Total Crown operating balance: NZ data and downloads: definitions
Revenue less expenses plus net gains and losses for the total Crown (excluding minority interests). Includes volatile market gains and losses, for example on the NZ Super Fund's investments.
Total Crown operating balance: NZ data and downloads: comparison limits
These affect how the figures can be compared.
- Swings with financial markets; OBEGAL is usually the better guide to underlying fiscal position.
- Not all of the operating balance is available to fund core Crown operations (Treasury notes the NZS Fund, SOEs and Crown entities retain part of their surpluses).
Total Crown operating balance: NZ data and downloads: data by period
The latest ten periods for up to the first six series. Downloads contain every published observation.
| Period | Total Crown operating balance | Total Crown operating balance |
|---|---|---|
| 2024/25 | $−4,400 million | −1.0% of GDP |
| 2023/24 | $−8,365 million | −2.0% of GDP |
| 2022/23 | $5,321 million | 1.3% of GDP |
| 2021/22 | $−16,932 million | −4.6% of GDP |
| 2020/21 | $16,159 million | 4.7% of GDP |
| 2019/20 | $−30,040 million | −9.5% of GDP |
| 2018/19 | $389 million | 0.1% of GDP |
| 2017/18 | $8,396 million | 2.8% of GDP |
| 2016/17 | $12,317 million | 4.5% of GDP |
| 2015/16 | $−5,369 million | −2.1% of GDP |
Total Crown operating balance: NZ data and downloads: questions for your AI
Download the file, attach it in the assistant you use, then paste the prompt. Whatever it tells you is its reading of the data, not ours.
- 1Download operating-balance.csv
- 2Attach it in ChatGPT, Claude, Gemini or another assistant
- 3Paste this prompt
The attached CSV is Total Crown operating balance (operating-balance), from The Treasury (New Zealand), Fiscal Time Series – Historical Fiscal Indicators. Describe how each measure has changed, naming its unit and period. Treat changes in basis and missing periods as breaks. Distinguish observation from explanation. Limitations: Swings with financial markets; OBEGAL is usually the better guide to underlying fiscal position. Not all of the operating balance is available to fund core Crown operations (Treasury notes the NZS Fund, SOEs and Crown entities retain part of their surpluses).. Do not infer causation from changes during government terms.
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Total Crown operating balance: NZ data and downloads: sources
The source publication, licence and snapshot used to build this page.
- Organisation
- The Treasury (New Zealand), Fiscal Time Series – Historical Fiscal Indicators
- Licence
- Creative Commons Attribution 4.0 International (CC BY 4.0). Source: The Treasury, Fiscal Time Series – Historical Fiscal Indicators, licensed under CC BY 4.0. Figures transformed and calculated by NZ in Numbers.
- Reuse limits
- Treasury logos, emblems, trade marks and website design are not covered and must not be reused.
- Snapshot
- data/raw/treasury-hfi/2026-10-10_de59f9028a81.xlsx
- SHA256
- de59f9028a81a697ee66eea04861edfd8e2c3a7e472b3b8798d976951964f70f
- Retrieved
- 10 October 2026