NZ current account turns to surplus in first quarter helped by tourism, trade, foreign profits

Tue, 14 Jun 2016

By Jonathan Underhill June 15 (BusinessDesk) - New Zealand’s current account balance turned to a surplus in the first quarter as tourism drove up the services balance and foreigners earned less from their local investments. The current account surplus was $1.3 billion in the first quarter, from a deficit of $2.89 billion a year earlier, Statistics New Zealand said. The figures aren’t seasonally adjusted. The goods balance turned to a surplus of $606 million from a deficit of $1.37 billion as imports fell faster than exports. The servic...

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