New Zealand's current account deficit widened to NZD 1.01 billion in the first quarter of 2026, up from NZD 0.71 billion in the same period the previous year, and was slightly smaller than market expectations of a NZD 1.03 billion gap. The goods balance recorded a NZD 0.09 billion deficit, swinging from a NZD 1.00 billion surplus in Q1 2025, as exports rose less than imports. The primary income deficit widened slightly to NZD 3.30 billion from NZD 3.27 billion, while the secondary income deficit increased to NZD 0.21 billion from NZD 0.19 billion. In contrast, the services surplus rose to NZD 2.59 billion, up from NZD 1.75 billion a year earlier, driven mainly by stronger growth in services exports and imports. Last year, the country recorded a current account deficit of NZD 16 billion. source: Statistics New Zealand

New Zealand recorded a Current Account deficit of 1010 NZD Million in the first quarter of 2026. Current Account in New Zealand averaged -1507.08 NZD Million from 1971 until 2026, 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 June of 2026.

New Zealand recorded a Current Account deficit of 1010 NZD Million in the first quarter of 2026. Current Account in New Zealand is expected to be -7500.00 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 and -5700.00 NZD Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
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$-1.01B NZ$-5.64B NZ$-1.03B NZ$-6.6B
2026-09-16 10:45 PM
Current Account
Q2 NZ$-1.01B NZ$ -7.5B


Related Last Previous Unit Reference
Balance of Trade 800.00 1598.00 NZD Million May 2026
Capital Flows -6107.00 2082.00 NZD Million Mar 2026
Current Account -1008.00 -5639.00 NZD Million Mar 2026
Current Account to GDP -3.70 -4.70 percent of GDP Dec 2025
Exports 8877.00 8268.00 NZD Million May 2026
Foreign Direct Investment 4029.00 2003.00 NZD Million Mar 2026
Imports 8077.00 6670.00 NZD Million May 2026
Terms of Trade 1561.00 1593.00 points Mar 2026
Tourism Revenues 7035.00 4617.00 NZD Million Mar 2026
Visitor Arrivals YoY 288546.00 358911.00 Apr 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
-1008.00 -5639.00 1978.00 -11493.00 1971 - 2026 NZD Million Quarterly
Current Prices, NSA

News Stream
New Zealand Q1 Current Account Deficit Close to Estimates
New Zealand's current account deficit widened to NZD 1.01 billion in the first quarter of 2026, up from NZD 0.71 billion in the same period the previous year, and was slightly smaller than market expectations of a NZD 1.03 billion gap. The goods balance recorded a NZD 0.09 billion deficit, swinging from a NZD 1.00 billion surplus in Q1 2025, as exports rose less than imports. The primary income deficit widened slightly to NZD 3.30 billion from NZD 3.27 billion, while the secondary income deficit increased to NZD 0.21 billion from NZD 0.19 billion. In contrast, the services surplus rose to NZD 2.59 billion, up from NZD 1.75 billion a year earlier, driven mainly by stronger growth in services exports and imports. Last year, the country recorded a current account deficit of NZD 16 billion.
2026-06-16
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