New Zealand’s current account deficit widened to NZD 6.35 billion in the third quarter of 2019 from NZD 6.24 billion in the corresponding period of the previous year and compared with market expectations of a NZD 6.34 billion gap. The goods account gap increased to NZD 3.51 billion from NZD 3.20 billion a year ago, and the services account shortfall rose to NZD 0.48 billion from NZD 0.33 billion. Also, the secondary account deficit went up to NZD 0.17 billion from NZD 0.06 billion. Meantime, the primary income shortfall narrowed to NZD 2.19 billion from NZD 2.64 billion. The 12-month gap narrowed to NZD 11 billion from NZD 10.65 billion in prior period. Current Account in New Zealand averaged -1058.32 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 -6351 NZD Million in the third quarter of 2019. source: Statistics New Zealand

Current Account in New Zealand is expected to be -2900.00 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 -4800.00 in 12 months time. In the long-term, the New Zealand Current Account is projected to trend around -2790.00 NZD Million in 2020, according to our econometric models.

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New Zealand Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-6351.00 -1037.00 1737.00 -6351.00 1971 - 2019 NZD Million Quarterly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-03-19 09:45 PM Q4 NZ$-3.26B NZ$-6.18 NZ$-3.555B NZ$-3.7B
2019-06-18 10:45 PM Q1 NZ$0.68B NZ$-3.26B NZ$0.526B NZ$ 0.6B
2019-09-17 10:45 PM Q2 NZ$-1.11B NZ$0.68B NZ$-1.117B NZ$-0.9B
2019-12-17 09:45 PM Q3 NZ$-6.351B NZ$-1.03B NZ$-6.336B NZ$-4.3B
2020-03-17 09:45 PM Q4 NZ$-6.351B NZ$-3.9B


News Stream
2019-09-17
New Zealand Current Account Deficit Narrows
New Zealand’s current account deficit narrowed to NZD 1.11 billion in the second quarter of 2019 from NZD 1.67 billion a year earlier to practically match expectations of a NZD 1.12 billion gap. The goods account surplus widened to NZD 0.95 billion from NZD 0.27 billion a year ago. In contrast, the services account surplus narrowed to NZD 0.57 billion from NZD 0.96 billion. Meantime, the primary account deficit narrowed to NZD 2.35 billion from NZD 2.82 billion, whereas the secondary account shortfall widened to NZD 0.28 billion from NZD 0.09 billion. The 12-month gap widened to NZD 10.23 billion from NZD 9.33 billion for the previous period.

2019-06-18
New Zealand Current Account Surplus Widens
New Zealand current account surplus widened to NZD 0.68 billion in the first quarter of 2019 from NZD 0.09 billion a year earlier and compared to expectations of a NZD 0.53 billion surplus. The goods account switched to a NZD 0.23 billion surplus from a NZD 0.39 deficit a year ago. In contrast, the services account surplus narrowed to NZD 2.98 billion from NZD 3.24 billion. Meantime, the primary account deficit narrowed to NZD 2.41 billion from NZD 2.63 billion, whereas the secondary account remained practically unchanged at NZD 0.12 billion (vs NZD 0.13 billion).

2019-03-19
New Zealand Current Account Deficit Widens in Q4
New Zealand current account deficit widened to NZD 3.26 billion in the fourth quarter of 2018 from NZD 2.85 billion a year earlier and compared to expectations of a NZD 3.56 billion shortfall. The goods account deficit widened sharply to NZD 1.70 billion from NZD 1.19 billion a year earlier, whereas the services account surplus narrowed to NZD 0.97 billion from NZD 1.97 billion. Meantime, the primary income shortfall narrowed to NZD 2.52 billion from NZD 2.95 billion, whereas the secondary income account turned balanced compared to a NZD 0.10 billion surplus in Q4 2017. In 2018, the country's current account gap rose to NZD 2.74 billion from NZD 2.05 billion in the previous year.


New Zealand Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade -752.57 -1039.24 1157.64 -1641.63 NZD Million [+]
Current Account -6351.00 -1037.00 1737.00 -6351.00 NZD Million [+]
Current Account to GDP -3.60 -3.00 -0.10 -8.90 percent [+]
Imports 5980.60 6046.07 6133.86 37.85 NZD Million [+]
Exports 5228.03 5006.83 5742.63 19.68 NZD Million [+]
External Debt 294466.00 284710.00 294466.00 67673.00 NZD Million [+]
Terms of Trade 1462.00 1435.00 1472.00 796.00 points [+]
Capital Flows 5828.00 -291.00 7263.00 -3332.00 NZD Million [+]
Foreign Direct Investment 909.00 4526.00 4526.00 -7322.00 NZD Million [+]
Tourist Arrivals 283834.00 261770.00 529255.00 40.00 [+]
Terrorism Index 0.14 0.29 1.19 0.00 [+]
Weapons Sales 6.00 4.00 75.00 1.00 USD Million [+]
Crude Oil Production 23.00 23.00 72.00 15.00 BBL/D/1K [+]
Global Dairy Trade Price Index 2.80 -5.10 22.60 -14.00 percent [+]