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Newsflash: Balance Of Payments Better Than Thought
Statistics NZ have this afternoon announced substantial revisions to their balance of payments statistics series.
The current account deficit for the year to March 2000 is now recorded as 7.1% of GDP rather previously published 8.2%.
The improvement is almost entirely due to earnings by New Zealand companies’ overseas subsidiaries. Substantial revisions go back as far as September 1998.
In the March 1999 year, where previously the current account deficit was recorded as 5.8% of GDP, the new figures show a deficit of 4.4% of GDP.
The revisions are expected
to have a positive impact on the value of the languishing
Kiwi dollar.
Alastair Thompson
Scoop Publisher
Alastair Thompson is the co-founder of Scoop. He is of Scottish and Irish extraction and from Wellington, New Zealand. Alastair has 24 years experience in the media, at the Dominion, National Business Review, North & South magazine, Straight Furrow newspaper and online since 1997. He is the winner of several journalism awards for business and investigative work.
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