New Zealand Has NZ$4.8 Billion Current Account Shortfall

(RTTNews) - New Zealand posted a seasonally adjusted current account deficit of NZ$8.3 billion in the third quarter of 2021, Statistics New Zealand said on Wednesday.

That beat expectations for a shortfall of NZ$7.913 billion following the NZ$1.396 billion deficit in the previous three months.

The current account deficit for the year ended 30 September 2021 widened to NZ$15.9 billion (4.6 percent of GDP) from the NZ$2.4 billion deficit for the September 2020 year (0.7 percent of GDP).

The seasonally adjusted goods deficit widened to NZ$1.9 billion, while the services deficit widened to NZ$749 million.

The primary income deficit narrowed to NZ$1.8 billion, while the financial account saw a net inflow of MZ$9.3 billion.