NZ current account deficit narrows as tourism bolsters services inflow

Tue, 14 Mar 2017

By Rebecca Howard March 15 (BusinessDesk) - New Zealand’s current account deficit narrowed in the fourth quarter, partly bolstered by a larger services balance surplus as tourism continues to boom. The deficit was $2.3 billion in the three months to Dec. 31 versus a revised third-quarter deficit of $5 billion, Statistics New Zealand said. The annual deficit was $7.1 billion, or 2.7 percent of gross domestic product for the year ended December 2016 versus a deficit of $8.3 billion or 3.4 percent of GDP in the prior year. The biggest qua...

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