New Zealand Has NZ$5.0 Billion Current Account Deficit

New Zealand had a seasonally adjusted current account deficit of NZ$5.0 billion in the first quarter of 2021, Statistics New Zealand said on Wednesday.

The current account deficit for the year ended March 2021 narrowed to NZ$7.2 billion (2.2 percent of GDP) from the NZ$9.1 billion deficit for the March 2020 year (2.8 percent of GDP).

The seasonally adjusted goods balance had a NZ$1.5 billion deficit compared with a surplus in the previous quarter.

The seasonally adjusted services deficit widened to NZ$1.6 billion, while the primary income deficit widened to NZ$1.7 billion and the financial account recorded a net outflow of NZ$2.4 billion.

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