New Zealand’s current account deficit widened to NZD 6.1 billion in the first quarter of 2022 from NZD 3.2 billion in the corresponding period of the previous year and compared with market expectations of an NZD 5.5 billion shortfall. The goods gap increased significantly to NZD 1.6 billion from NZD 0.3 billion a year earlier, as imports surged 23.3% to NZD 18.3 billion while exports rose at a slower 15.2% to NZD 16.7 billion. The services deficit also stretched to NZD 1.9 billion from NZD 0.9 billion in the first quarter of 2021; and the primary income gap widened to NZD 2.3 billion from NZD 1.7 billion. Meanwhile, the secondary income shortfall was barely unchanged at NZD 0.3 billion. source: Statistics New Zealand
Current Account in New Zealand averaged -1168.14 NZD Million from 1971 until 2022, reaching an all time high of 2325 NZD Million in the first quarter of 2020 and a record low of -8248 NZD Million in the third quarter of 2021. 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 2022.
Current Account in New Zealand is expected to be -1900.00 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 -2400.00 NZD Million in 2023, according to our econometric models.