New Zealand’s current account deficit narrowed to NZD 2.66 billion in the fourth quarter of 2019 from NZD 3.61 billion in the corresponding period of the previous year and compared with market expectations of a NZD 2.96 billion gap. The goods shortfall declined to NZD 1.50 billion from NZD 1.84 billion a year ago and the services surplus rose slightly to NZD 0.97 billion from NZD 0.96 billion. Also, the primary income gap decreased to NZD 2.05 billion from NZD 2.71 billion. Meanwhile, the secondary income deficit went up to NZD 0.07 billion from NZD 0.02 billion. Considering full 2019, the country's current account gap went down to NZD 9.95 billion from NZD 11.52 billion in 2018. New Zealand's stats agency also reported that the economic impact of COVID-19 on New Zealand will first appear in the balance of payments statistics in the March 2020 quarter, to be released 17 June 2020.
Current Account in New Zealand averaged -1066.06 NZD Million from 1971 until 2019, reaching an all time high of 1737 NZD Million in the first quarter of 2016 and a record low of -6260 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 2020. source: Statistics New Zealand
Current Account in New Zealand is expected to be -1600.00 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 500.00 in 12 months time. In the long-term, the New Zealand Current Account is projected to trend around -2790.00 NZD Million in 2021 and -2700.00 NZD Million in 2022, according to our econometric models.