1 Nov 2011

NZ techology firms bounce back from global crisis

7:31 am on 1 November 2011

New Zealand's top 100 technology companies have bounced back from the global financial crisis and collectively topped $7 billion in revenue.

The Technology Investment Network (TIN) has released its annual report, which monitors key data from the country's largest 100 technology exporters and 100 emerging high-tech companies.

It shows the companies' revenue rose 5% in 2011 compared with the previous year.

The technology sector is the country's second biggest exporter behind dairy.

The network's managing director, Greg Shanahan, says exports rose 4% to more than $5 billion over the year, with exports to Australia rising 10%.

He says the companies the network monitors felt the effects of the global financial crisis last year, and this year represents their answer to it.

Looking ahead, Mr Shanahan says the country's technology businesses are well-positioned to further grow their businesses, especially in Australia.