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. source: Statistics New Zealand
Current Account in New Zealand averaged -1077.40 NZD Million from 1971 until 2020, reaching an all time high of 1909 NZD Million in the second 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 May of 2021.
Current Account in New Zealand is expected to be 500.00 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 -2790.00 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.