New Zealand’s current account balance switched to an NZD 2.895 billion deficit in the first quarter of 2021 from an NZD 1.903 billion surplus in the corresponding period of the previous year and compared with market expectations of an NZD 2.230 billion shortfall. The goods account posted an NZD 0.342 deficit this quarter compared to an NZD 1.094 billion surplus a year earlier, while the services account shifted to an NZD 0.635 billion deficit from an NZD 2.635 billion surplus. In addition, the secondary income gap widened to NZD 0.240 billion from NZD 0.109 billion. On the other hand, the primary income deficit narrowed to NZD 1.678 billion from NZD 1.718 billion in the same period a year ago. source: Statistics New Zealand

Current Account in New Zealand averaged -1086.69 NZD Million from 1971 until 2021, reaching an all time high of 1903 NZD Million in the first quarter of 2020 and a record low of -6651 NZD Million in the third quarter of 2019. This page provides the latest reported value for - New Zealand Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Current Account - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

Current Account in New Zealand is expected to be -700.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in New Zealand to stand at -1500.00 in 12 months time. In the long-term, the New Zealand Current Account is projected to trend around -2400.00 NZD Million in 2022, according to our econometric models.

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New Zealand Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-2895.00 -2590.00 1903.00 -6651.00 1971 - 2021 NZD Million Quarterly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-15 10:45 PM Q2 NZ$1.828B NZ$1.90B NZ$0.595B NZ$0.7B
2020-12-15 09:45 PM Q3 NZ$-3.52B NZ$1.91B NZ$-3.652B NZ$-2.8B
2021-03-16 09:45 PM Q4 NZ$-2.695B NZ$-3.521B NZ$-2.88B NZ$-2.8B
2021-06-15 10:45 PM Q1 NZ$-2.895B NZ$-2.590B NZ$-2.23B NZ$-2.0B
2021-09-14 10:45 PM Q2 NZ$-2.895B
2021-12-17 09:45 PM Q3


News Stream
NZ Current Account Balance Swings to Deficit in Q1
New Zealand’s current account balance switched to an NZD 2.895 billion deficit in the first quarter of 2021 from an NZD 1.903 billion surplus in the corresponding period of the previous year and compared with market expectations of an NZD 2.230 billion shortfall. The goods account posted an NZD 0.342 deficit this quarter compared to an NZD 1.094 billion surplus a year earlier, while the services account shifted to an NZD 0.635 billion deficit from an NZD 2.635 billion surplus. In addition, the secondary income gap widened to NZD 0.240 billion from NZD 0.109 billion. On the other hand, the primary income deficit narrowed to NZD 1.678 billion from NZD 1.718 billion in the same period a year ago.
2021-06-15
New Zealand Current Account Narrows
New Zealand’s current account deficit narrowed to NZD 2.7 billion in the fourth quarter of 2020 from a NZD 2.85 billion deficit in the corresponding period of the previous year and compared with market expectations of a NZD 2.88 billion gap. The goods account deficit narrowed to NZD 302 million from NZD 1496 million in the same month of the previous year, while the service balance switched to a NZD 759 million deficit from an NZD 532 million surplus in December of 2019, as tourism activity declined. Meanwhile, the primary income gap reduced to NZD 1475 million from NZD 1810 million. On an annual basis, current account deficit for the year ended December 2020 was NZD 2.5 billion, or 0.8% of GDP, the smallest in almost 19 years. It compares with a deficit of NZD 10.6 billion (3.3% of GDP) for the year ended December 2019.
2021-03-16
New Zealand Current Account Deficit Narrows
New Zealand’s current account deficit narrowed to NZD 3.52 billion in the third quarter of 2020 from a NZD 6.65 billion deficit in the corresponding period of the previous year and compared with market expectations of a NZD 3.65 billion gap. The deficit was mainly explained by a rise in goods imports of NZD 1.1 billion, following the fall in the June 2020 quarter, mainly driven by an increase in car purchases. The services account returned to surplus in the third quarter, due to a NZD 270 million increase in services exports and a NZD 304 million fall in services imports. On an annual basis, the current account deficit for the September 2020 year narrowed to NZD 2.6 billion, compared with a gap of NZD 11.7 billion in the same quarter of the previous year.
2020-12-15
New Zealand Current Account Balance Swings to Surplus in Q2
New Zealand’s current account balance switched to a NZD 1.83 billion surplus in the second quarter of 2020 from a NZD 1.47 billion deficit in the corresponding period of the previous year and compared with market expectations of a NZD 0.60 billion surplus. The goods account surplus widened to NZD 3.80 billion from NZD 0.91 billion a year earlier; and the primary income deficit narrowed to NZD 1.33 billion from NZD 2.41 billion. On the other hand, the services balance shifted to a NZD 0.30 billion shortfall from a NZD 0.29 billion surplus; and the secondary income gap increased to NZD 0.34 billion from NZD 0.27 billion in Q2 2019.
2020-09-15

New Zealand Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).