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New Zealands current account deficit widened in the second quarter of this year

2017-09-20 02:52 am | Resource: NEWS | No Views : 312



New Zealand posted a seasonally adjusted current account deficit of NZ $ 1.598 billion in the second quarter of 2017, the New Zealand Statistics Service said on Wednesday, resulting in a deficit of NZ $ 2.218 billion in the previous three months.
  
On a year-on-year basis, New Zealand's current account deficit amounted to NZ $ 7.5 billion, 2.8% of GDP, and recorded 2.7% of GDP in June 2016.
  
The deficit in goods fell by NZ $ 677 million to NZ $ 446 million, and the services sector surged by NZ $ 295 million to NZ $ 1,280 million, the highest level ever.
  
The main deficit for New Zealand's income fell to NZ $ 1,910 million in the fourth quarter of 2017, down NZ $ 403 million, from the fourth quarter of March 2017.
  
New Zealand's secondary income deficit rose to NZ $ 522 million in the fourth quarter of 2017, an increase of NZ $ 188 million over the fourth-quarter deficit of 2017.
   
The balance of the capital account recorded a deficit of NZ $ 14 million in the last quarter of 2017, a decrease of NZ $ 3 million in the fourth quarter of March 2017.
  
Net cash flow was NZ $ 110 million in the fourth quarter of 2017, an increase over the revised net financial flow of NZ $ 787 million for the fourth quarter of March 2017.
  
New Zealand's net foreign debt reached NZ $ 145.5 billion, representing 54.3 per cent of GDP on 30 June 2017, after the revised net foreign debt ratio was US $ 144.4 billion (54.6 per cent of GDP) on 30 March 2017 .


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