NZ’s annual current account gap narrows to 3.3% of GDP on tourist influx

Tue, 15 Dec 2015

By Jonathan Underhill Dec. 16 (BusinessDesk) - New Zealand’s annual current account deficit narrowed in the third quarter as an influx of big-spending tourists made up for the impact of weaker dairy export prices. The current account gap was $8.1 billion, or 3.3 percent of gross domestic product in the 12 months ended Sept. 30, from a revised gap of $8.3 billion, or 3.4 percent of GDP three months earlier, Statistics New Zealand said. In the third quarter, the actual deficit blew out to $4.7 billion from a revised $1.17 billion in the...

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