22 September 2000 Media Statement
Improvement in underlying current account balance welcomed

Associate Minister of Finance, Hon Trevor Mallard, welcomed the improvement in the underlying trend in the current account balance shown in data released by Statistics New Zealand today.

Statistics New Zealand noted that the trend estimate for the current account balance has recorded a sharp decrease in the deficit over the last two quarters following a period of increasing deficits. The main contributor to the decrease in the current account deficit has been a change in the goods and services balance trend from a deficit to a surplus.

"While there is still some way to go, the improvement in the underlying current account balance is positive news for New Zealand with goods exports and tourism major contributors", Trevor Mallard said.

ENDS

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