NZ annual current account gap narrows in 3Q as trade balance shrinks

Tue, 18 Dec 2012

Dec. 19 (BusinessDesk) – New Zealand’s annual current account deficit narrowed as expected in the third quarter, driven by a decline in the trade surplus and as overseas investors earned less from their local investments. The current account gap was $9.89 billion in the year ended Sept. 30, from a deficit of $10.09 billion three months earlier, according to Statistics New Zealand. An annual gap of $9.83 billion was expected, according to a Reuters survey. The annual deficit narrowed to 4.7 percent of gross domestic product from 4.9 percent....

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