NZ annual current account deficit widest in nine years

Tue, 18 Sep 2018

By Rebecca Howard Sept. 19 (BusinessDesk) - New Zealand posted its widest annual current account deficit in nine years in the June quarter as foreign-owned firms reaped bigger income from their domestic operations than Kiwi companies did overseas. The annual deficit widened to $9.5 billion, or 3.3 percent of gross domestic product, versus an annual deficit of $7.1 billion, or 2.6 percent of GDP, in the prior year, Statistics New Zealand said. Economists had tipped an annual deficit of 2.9 percent of GDP in a Bloomberg poll. The wider-...

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