New Zealand’s current account balance switched to an NZD 2.895 billion deficit in the first quarter of 2021 from an NZD 1.903 billion surplus in the corresponding period of the previous year and compared with market expectations of an NZD 2.230 billion shortfall. The goods account posted an NZD 0.342 deficit this quarter compared to an NZD 1.094 billion surplus a year earlier, while the services account shifted to an NZD 0.635 billion deficit from an NZD 2.635 billion surplus. In addition, the secondary income gap widened to NZD 0.240 billion from NZD 0.109 billion. On the other hand, the primary income deficit narrowed to NZD 1.678 billion from NZD 1.718 billion in the same period a year ago. source: Statistics New Zealand
Current Account in New Zealand averaged -1086.69 NZD Million from 1971 until 2021, 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 July of 2021.
Current Account in New Zealand is expected to be -700.00 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 -1500.00 in 12 months time. In the long-term, the New Zealand Current Account is projected to trend around -2400.00 NZD Million in 2022, according to our econometric models.