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New Zealand Has NZ$438 Million Current Account Deficit

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New Zealand Has NZ$438 Million Current Account Deficit

New Zealand had a seasonally adjusted current account deficit of 438 million in the third quarter of 2020 compared to the previous three months, Statistics New Zealand said on Wednesday.

The current account deficit for the year ended September 2020 narrowed to NZ$2.6 billion (0.8 percent of GDP) from the NZ$11.7 billion deficit for the September 2019 year (3.7 percent of GDP).

New Zealand’s net international liability position was NZ$177.9 billion, down from NZ$180.3 billion on 30 June 2020.

Seasonally adjusted, the goods surplus narrowed to NZ$881 million, while the services balance was a NZ$493 million surplus, the primary income deficit widened to NZ$1.6 billion and the financial account recorded a net inflow of NZ$4.3 billion.

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