Dairy exports drive NZ surplus on goods and services to record, shrinking current account gap

Tue, 18 Mar 2014

March 19 (BusinessDesk) – Dairy exports drove New Zealand’s surplus on goods and services to a record in the fourth quarter, helping offset an outflow of profits from foreign-owned companies and shrinking the nation’s current account deficit. The current account gap fell to $1.43 billion in the fourth quarter, from a revised deficit of $4.88 billion in the third quarter, according to Statistics New Zealand. The annual gap fell to $7.55 billion, or 3.4 percent of gross domestic product, from $8.87 billion, or 4.1 percent. Economists polled by...

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