New Zealand Current Account Gap Shrinks in Q1

2025-06-17 22:58 By Mojdeh Kazemi 1 min. read

New Zealand recorded a current account deficit of NZD 2.32 billion in the March quarter of 2025, narrowing from a NZD 3.82 billion gap a year earlier but slightly above expectations of a NZD 2.2 billion shortfall.

The goods balance swung to a NZD 0.45 billion surplus from a NZD 2.57 billion deficit in Q4, while the services account improved to a NZD 1.56 billion surplus from a NZD 0.26 billion gap.

However, the primary income deficit widened to NZD 4.23 billion from NZD 3.94 billion, and the secondary income gap rose to NZD 0.1 billion from NZD 0.03 billion.

For the year ended March 31, 2025, the annual current account deficit totaled NZD 24.7 billion, or 5.7% of GDP.



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New Zealand Current Account Gap Shrinks in Q1
New Zealand recorded a current account deficit of NZD 2.32 billion in the March quarter of 2025, narrowing from a NZD 3.82 billion gap a year earlier but slightly above expectations of a NZD 2.2 billion shortfall. The goods balance swung to a NZD 0.45 billion surplus from a NZD 2.57 billion deficit in Q4, while the services account improved to a NZD 1.56 billion surplus from a NZD 0.26 billion gap. However, the primary income deficit widened to NZD 4.23 billion from NZD 3.94 billion, and the secondary income gap rose to NZD 0.1 billion from NZD 0.03 billion. For the year ended March 31, 2025, the annual current account deficit totaled NZD 24.7 billion, or 5.7% of GDP.
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