Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Current Account Deficit $2,302 Million

Current Account Deficit $2,302 Million

The current account deficit stands at $2,302 million for the September 2002 quarter, according to Statistics New Zealand. A deficit balance on the current account means New Zealand's total receipts from international trading and earnings from international investments fall short of total payments to foreigners. After adjusting for seasonal variations in the pattern of exporting and importing, the deficit is $477 million higher than the June quarter deficit, continuing a pattern of increasing deficits since the March 2002 quarter.

The main factors driving the increase in the September quarter deficit were:

lower export receipts due to falling prices for primary products, and higher import payments due to increased merchandise import volumes, which have more than offset falling merchandise import prices.

For the year ended September 2002, the current account deficit of $3,729 million was 3.0 percent of GDP, unchanged compared with year ended September 2001.

Overall, the international investment position (the nation's balance sheet with the rest of the world) shows a rising gap between the value of New Zealand investments abroad and overseas investment in New Zealand. This is mainly due to falls in the value of investments held by New Zealand fund managers in overseas share markets. Our 'net debtor' position has increased from $97.9 billion at 30 June 2002 to $99.6 billion at 30 September 2002.

Brian Pink

Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


Dry: Beef + Lamb Launches Drought Resources

The resources include a fact sheet outlining strategies to manage and mitigate the effects of drought, coping with stress on the farm and advice on feed requirements and animal welfare during the dry period. More>>


InternetNZ: Net Neutrality Failure In US "Will Hurt All Users"

InternetNZ Chief Executive Jordan Carter has condemned the decision by the United States communications regulator to undo 2015 open Internet rules, warning that all Internet users will end up worse off as a result. More>>


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>