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What does year-on-year mean?

Looking for the meaning or definition of the word year-on-year? Here's what it means.

Adjective
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Examples
They had a guarantee of year-on-year tax cuts, but abandoned it earlier this year.
Adding to its weak image is a 10 per cent year-on-year drop in January and February operating profits.
Last week, year-on-year figures showed slight rises in street crime and burglaries.
The first quarter national accounts show year-on-year growth of 11.7 per cent.
Growth had been expected to come down during the year, because of tougher year-on-year comparisons.
The 25 per cent year-on-year jump in revenues was also in line with expectations.

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