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Financial News: New Zealand Has NZ$1.9 Billion Current Account Deficit

New Zealand Has NZ$1.9 Billion Current Account Deficit

03/17/2020 - 18:32:00 (RTTNews)

(RTTNews) - New Zealand had a seasonally adjusted current account deficit of NZ$1.9 billion in the fourth quarter of 2019, Statistics New Zealand said on Wednesday.

The seasonally adjusted goods deficit narrowed to NZ$845 million, while the services surplus widened to NZ$1.1 billion.

The primary income deficit narrowed to NZ$2.1 billion and the financial account recorded a net inflow of NZ$1.1 billion.

The current account deficit for the year ended December 2019 narrowed to NZ$9.2 billion (3.0 percent of GDP) from the NZ$11.4 billion deficit for the December 2018 year (3.8 percent of GDP).

New Zealand's net international liability position was NZ$170.9 billion, down from NZ$171.2 billion at 30 September 2019.

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