Current account deficit narrowing more slowly than predicted

The seasonal peak in overseas visitor spending was less pronounced in the March 2024 quarter. (Image: Getty)

Wed, 19 Jun 2024

New Zealand’s current account deficit narrowed at a slower pace in the March 2024 quarter than the Reserve Bank of New Zealand and Treasury forecast.Statistics NZ’s balance of payments data series showed the seasonally adjusted current account – which captures trade in goods and services and net income flows – registered a deficit of $27.6 billion in the year ended March 31, 2024, equivalent to 6.8% of gross domestic product (GDP).This is a narrowing of $300 million to the deficit compared with the year ending Dec 31, 20...

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