NZ current account gap narrows as expected on dairy exports, visitor spending

Tue, 18 Jun 2013

June 19 (BusinessDesk) - New Zealand's current account deficit narrowed as expected in the first quarter as volumes and prices of dairy exports rose and visitors spent more, lifting the balance on goods and services. The current account deficit fell to $663 million in the three months ended March 31, from a revised $3.2 billion in the fourth quarter of 2012, according to Statistics New Zealand. The annual gap narrowed to about $10.1 billion, or 4.8 percent of gross domestic product, from $10.5 billion, or 5 percent, three months earlier, abou...

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