New Zealand’s current account deficit narrowed to NZD 3.52 billion in the third quarter of 2020 from a NZD 6.65 billion deficit in the corresponding period of the previous year and compared with market expectations of a NZD 3.65 billion gap. The deficit was mainly explained by a rise in goods imports of NZD 1.1 billion, following the fall in the June 2020 quarter, mainly driven by an increase in car purchases. The services account returned to surplus in the third quarter, due to a NZD 270 million increase in services exports and a NZD 304 million fall in services imports. On an annual basis, the current account deficit for the September 2020 year narrowed to NZD 2.6 billion, compared with a gap of NZD 11.7 billion in the same quarter of the previous year. source: Statistics New Zealand
Current Account in New Zealand averaged -1069.23 NZD Million from 1971 until 2020, reaching an all time high of 1909 NZD Million in the second 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 January of 2021.
Current Account in New Zealand is expected to be 900.00 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 -3250.00 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.