New Zealand’s current account balance switched to a NZD 1.83 billion surplus in the second quarter of 2020 from a NZD 1.47 billion deficit in the corresponding period of the previous year and compared with market expectations of a NZD 0.60 billion surplus. The goods account surplus widened to NZD 3.80 billion from NZD 0.91 billion a year earlier; and the primary income deficit narrowed to NZD 1.33 billion from NZD 2.41 billion. On the other hand, the services balance shifted to a NZD 0.30 billion shortfall from a NZD 0.29 billion surplus; and the secondary income gap increased to NZD 0.34 billion from NZD 0.27 billion in Q2 2019. source: Statistics New Zealand
Current Account in New Zealand averaged -1057.20 NZD Million from 1971 until 2020, reaching an all time high of 1903 NZD Million in the first 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 November of 2020.
Current Account in New Zealand is expected to be 1100.00 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 -700.00 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 -2400.00 NZD Million in 2022, according to our econometric models.