Economic Buzz: New Zealand has NZ$5.5 billion current account shortfall

New Zealand had a seasonally adjusted current account deficit of NZ$5.5 billion in the first quarter of 2025, Statistics New Zealand said on Wednesday.

The current account deficit for the year ended March 2025 narrowed to NZ$24.7 billion (5.7 percent of gross domestic product (GDP)) compared with the NZ$27.6 billion deficit for the March 2024 year (6.6 percent of GDP).

The seasonally adjusted goods deficit narrowed to NZ$574 million, while services moved from a surplus to a deficit of NZ$645 million.

The primary income deficit widened to NZ$4.2 billion, while the financial account recorded a net inflow of NZ$4.2 billion.

The annual current account deficit in the year ended 31 March 2025 was NZ$24.7 billion (5.7 percent of GDP).

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