2022 TIN Report Press Release

New Zealand tech exports generated NZ$11.5 billion in revenue in FY2022, up 9.1% on the previous year 

• NZ’s top 200 technology export companies by revenue (TIN200 companies) generated $15.117B in total revenue for FY2022, up $1.247B or 9.0% on FY2021.
• Total TIN200 exports were $11.495B, up $961m or 9.1% on FY2021. Tech constitutes NZ’s second largest export earner behind dairy and comprises 14% of NZ’s total export revenue for the year to June 2022.
• 31 companies recorded revenue of $100m+ up from 12 in FY2012 – including four companies that topped the $1B mark.
• Total TIN200 employment was 62,718, up 6148 or 10.9% on FY2021.
• The average TIN200 employee wage rose $699 to $89,711 – $27,883 higher than the national median of $61,828.
• TIN200 company R&D expenditure grew by 18.6% to a total of $1.770B.
• NZ early-stage tech companies raised VC and Angel investment of $192m from a record 135 deals in FY2022, up $30.5m on FY2021.
• ICT companies were the primary growth driver in FY2022, recording a 15.1% or $860m increase in revenue.
• Auckland leads the regions, with $8B in revenue earned, while three other regions –Wellington, Waikato, and Canterbury – drew $1B+ in revenue.
• Fisher & Paykel Healthcare tops the TIN200 list for the second year running.

“Beyond resilience, Kiwi tech companies are competing and winning overseas in a time of global economic uncertainty and there’s a growing sense of confidence in the sector and by those invested in it. 

By the numbers, we see our tech companies supporting much-needed export diversity, productivity, and income assurance as New Zealand plots a path to recovery. Tech companies added more than a billion dollars of revenue growth and $960 million in export growth to the country’s economy over the last year.  

The sector’s breadth of export destinations, ability to absorb shocks and avoid conflict with climate goals is a major asset in this regard. On its current trajectory, tech exports will hit $20.5B by 2027, but challenges like attracting, training, and maintaining skilled talent remain an obstacle.”   

Total revenue for the TIN200 companies – the top 200 NZ tech export companies ranked by revenue -- reached $15.117B – up 9.0% or $1.247B on last year.   

With average annualised revenue growth of 10.6% between 2017 and 2022, TIN200 companies expanded nine times faster than the general New Zealand economy this year, delivering sustainable growth and profitability during a period of economic uncertainty.  

Driven by a 9.1% increase in exports, the TIN200 group of technology companies remains New Zealand’s second biggest export earner, generating a record $11.495B – or 14% of the country’s total export revenue – and making technology New Zealand’s second biggest offshore earner for a consecutive year.   

Now in its 18th year, the TIN Report has become a critical reference for benchmarking the performance of New Zealand’s 200 largest globally-focused technology companies, categorised according to the primary sectors of Biotech, ICT (Information and Communication Technologies) and High-Tech Manufacturing.   

Job growth in the New Zealand tech sector continues to accelerate despite the labour crunch and shortages of onshore expertise. Total employee numbers grew 10.9% to 62,718 globally, driven predominantly by job creation in the ICT sector.

The report found that the growth in high-paying tech jobs at home is having a profound effect on the domestic economy with an additional $264m coming into the country in wages.

Collectively, TIN200 companies invested $1.770B in Research and Development over the past year, up 18.6%, reflecting the need to continually innovate and absorb the changes brought about by a rapidly evolving world.