New Zealand recorded a current account deficit of NZD 5.98 billion in the final quarter of 2025, narrowing from NZD 8.36 billion in the previous quarter but widening from a NZD 5.0 billion deficit a year earlier. The goods deficit remained broadly stable at around NZD 1.9 billion, in line with the same period last year. In contrast, the services deficit increased to NZD 194 million, up from NZD 75 million a year earlier. The primary income deficit widened significantly to NZD 3.67 billion from NZD 2.9 billion, while the secondary income deficit rose to NZD 227 million from NZD 110 million. On a seasonally adjusted basis, New Zealand’s current account deficit totalled NZD 16.3 billion in 2025, equivalent to 3.7% of GDP. source: Statistics New Zealand

New Zealand recorded a Current Account deficit of 5984 NZD Million in the fourth quarter of 2025. Current Account in New Zealand averaged -1510.93 NZD Million from 1971 until 2025, reaching an all time high of 1978.00 NZD Million in the first quarter of 2020 and a record low of -11493.00 NZD Million in the third quarter of 2022. 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 March of 2026.

New Zealand recorded a Current Account deficit of 5984 NZD Million in the fourth quarter of 2025. Current Account in New Zealand is expected to be -3300.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Current Account is projected to trend around -5900.00 NZD Million in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-16 09:45 PM
Current Account
Q3 NZ$-8.37B NZ$-1.3B NZ$-8.1B NZ$ -7.6B
2026-03-17 09:45 PM
Current Account
Q4 NZ$-5.98B NZ$-8.36B NZ$-4.75B NZ$-4.5B
2026-06-16 10:45 PM
Current Account
Q1 NZ$-5.98B NZ$ -3.3B


Related Last Previous Unit Reference
Balance of Trade -257.00 -627.00 NZD Million Feb 2026
Capital Flows 3689.00 5552.00 NZD Million Dec 2025
Current Account -5984.00 -8357.00 NZD Million Dec 2025
Current Account to GDP -3.70 -4.70 percent of GDP Dec 2025
Exports 6630.00 6100.00 NZD Million Feb 2026
Foreign Direct Investment 2376.00 538.00 NZD Million Dec 2025
Imports 6890.00 6730.00 NZD Million Feb 2026
Terms of Trade 1593.00 1536.00 points Dec 2025
Tourism Revenues 4613.00 3300.00 NZD Million Dec 2025
Visitor Arrivals YoY 385426.00 502640.00 Jan 2026


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).
Actual Previous Highest Lowest Dates Unit Frequency
-5984.00 -8357.00 1978.00 -11493.00 1971 - 2025 NZD Million Quarterly
Current Prices, NSA

News Stream
New Zealand Current Account Gap Widens in Q4
New Zealand recorded a current account deficit of NZD 5.98 billion in the final quarter of 2025, narrowing from NZD 8.36 billion in the previous quarter but widening from a NZD 5.0 billion deficit a year earlier. The goods deficit remained broadly stable at around NZD 1.9 billion, in line with the same period last year. In contrast, the services deficit increased to NZD 194 million, up from NZD 75 million a year earlier. The primary income deficit widened significantly to NZD 3.67 billion from NZD 2.9 billion, while the secondary income deficit rose to NZD 227 million from NZD 110 million. On a seasonally adjusted basis, New Zealand’s current account deficit totalled NZD 16.3 billion in 2025, equivalent to 3.7% of GDP.
2026-03-17
New Zealand Current Account Gap Widens Sharply in Q3
New Zealand posted a current account deficit of NZD 8.37 billion in Q3 2025, widening sharply from a NZD 1.30 billion shortfall in the previous quarter and above market expectations. The goods balance shifted back into a deficit of NZD 3.44 billion from a NZD 2.64 billion surplus a quarter earlier, while the services account deficit widened to NZD 1.78 billion from NZD 1.02 billion. Meanwhile, the primary income deficit widened to NZD 2.99 billion from NZD 2.56 billion, and the secondary income gap narrowed to NZD 0.15 billion from NZD 0.36 billion. On an annual basis, the current account deficit for the year ended September 30, 2025, stood at NZD 15.4 billion, improving from NZD 21.9 billion in the year ended September 30, 2024. Overall, the data point to a marked improvement in New Zealand’s external position on an annual basis, despite a significant deterioration at the quarterly level driven by weaker trade balances.
2025-12-16
NZ Current Account Deficit Narrows Sharply in Q2
New Zealand posted a current account deficit of NZD 0.97 billion in Q2 2025, significantly narrowing from a NZD 3.3 billion shortfall in the same period last year and well below market expectations of NZD 2.7 billion. The goods balance surplus widened sharply to NZD 2.67 billion from NZD 0.53 billion a year earlier, while the services account deficit increased to NZD 1 billion from NZD 0.66 billion. Meanwhile, the primary income deficit narrowed to NZD 2.3 billion from NZD 2.7 billion, and the secondary income gap fell to NZD 0.37 billion from NZD 0.49 billion. On an annual basis, the current account deficit for the year ended June 30, 2025, stood at NZD 16.0 billion, improving from NZD 18.3 billion in the year ended March 31, 2025. Overall, the data points to a marked improvement in New Zealand’s external position, driven largely by stronger goods exports and narrower income deficits.
2025-09-16