NZ current account deficit widens on lower dairy, oil, tourism revenues

Tue, 19 Mar 2013

March 20 (BusinessDesk) - New Zealand's current account deficit widened more than anticipated in the three months to Dec. 31, clocking in at $10.5 billion for the 2012 calendar year, or 5 percent of gross domestic product. Contributing to the rise was an increase in dividends paid to foreign investors, although foreign earnings by New Zealand companies in the quarter reached a five year high. The balance of payments is a high level measure of the extent to which New Zealand is or isn't paying its way in the world. Offshore borrowing by New Z...

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