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Financial News: New Zealand Has NZ$6.9 Billion Current Account Deficit

New Zealand Has NZ$6.9 Billion Current Account Deficit In Q4

03/19/2024 - 18:16:00 (RTTNews)

(RTTNews) - New Zealand posted a seasonally adjusted current account deficit of NZ$6.9 billion in the fourth quarter of 2023, Statistics New Zealand said on Wednesday.

That follows the NZ$6.733 billion shortfall in the three months prior.

The seasonally adjusted goods deficit narrowed to NZ$2.9 billion, while the services deficit widened to $438 million. The primary income deficit widened to NZ$3.4 billion and the financial account recorded a net inflow of NZ$12.9 billion.

The current account deficit for 2023 narrowed to NZ$27.8 billion (6.9 percent of GDP) from the NZ$33.4 billion deficit in 2022 (8.8 percent of GDP).

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