Tourist inflow helps narrow current account deficit in March quarter

New Zealand's allure remains strong. (Image: Real NZ)

Wed, 14 Jun 2023

The unexpectedly strong return of foreign guests to New Zealand’s shores helped narrow the nation’s record current account deficit, beating analysts’ dour expectations.Statistics NZ’s balance of payments data series showed the current account – which captures trade in goods and services and net income flows – was a deficit of $33.03 billion in the 12 months ended March 31, or 8.5% of gross domestic product (GDP), narrowing from the record shortfall of $34.94b, or 9% of GDP, at the end of December, which was r...

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