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Financial News: New Zealand Has NZ$2.6 Billion Current Account Deficit

New Zealand Has NZ$2.6 Billion Current Account Deficit In Q1

06/18/2019 - 19:17:00 (RTTNews)

(RTTNews) - New Zealand had a seasonally adjusted current account deficit of NZ$2.6 billion in the first quarter of 2019, Statistics New Zealand said on Wednesday - following the NZ$3.256 billion shortfall in the three months prior.

The current account/GDP ratio was down 3.6 percent on year versus expectations for a drop of 3.5 percent after sliding 3.7 percent in the previous quarter.

The seasonally adjusted goods deficit narrowed to NZ$1.1 billion, while the services surplus narrowed to NZ$970 million.

The primary income deficit narrowed to NZ$2.4 billion and the financial account saw a net inflow of NZ$726 million.

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