#1 Crown Jewel: NZ Government Net Worth % of GDP increased 37 points versus US declined 52 points.
#2 Crown Jewel: NZ Citizens’ Wealth per person increased $44,668 versus US declined $25,258.
The Most Important Government Financial Performance Indicators
|Government Net Worth as % of GDP||Citizens’ Wealth Per Person (USD)|
|New Zealand||United States||New Zealand||United States|
|2000 to 2019||Government Total Net Worth as % of GDP||+37pp||-52pp||Citizens’ Wealth (USD)||+$44,668||-$25,258|
|2019||Government Total Net Worth as % of GDP||48%||-122%||Citizens’ Wealth (USD)||$60,135||-$14,328|
|2000||Government Total Net Worth as % of GDP||11%||-70%||Citizens’ Wealth (USD)||$15,467||$10,930|
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Definitions: Government Net Worth is Government Total Assets less Government Total Debts. Citizens’ Wealth (CW1) is total economy GDP less Government Net Worth. United States is Federal government; debt corrected for incorrectly consolidated Social Security and Medicare bond holdings.
Sources: Sovereign government audited annual financial statements based on international public sector accounting standards from fiscal year 2000 to 2019 adjusted for restatements and comparability by KCPFM. GDP and population data from IMF October 2019 WEO database.
Disclosures: KCPFM received an independent verification letter on numbers in this matrix. KCPFM has no economic interest in New Zealand government securities.