NZ posts record current account surplus in first quarter, on exports, visitors

Tue, 17 Jun 2014

By Jonathan Underhill June 18 (BusinessDesk) - New Zealand recorded a record current account surplus in the first quarter, as exports such as meat and dairy drove the goods balance to an all-time high and the country enjoyed spending by an inflow of overseas visitors. The current account surplus was $1.41 billion in the three months ended March 31, from a revised deficit of $1.5 billion in the fourth quarter of 2013. The annual deficit was $6.3 billion, or 2.8 percent of gross domestic product, matching the level of March 2011, from a rev...

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