BoP reflects strong economic performance in NZ
BoP reflects strong economic performance in NZ - Mallard
Acting Finance Minister Trevor Mallard welcomed the latest current account figures which reflect the resilience of the New Zealand economy at a time when there are uncertainties in world markets.
He was responding to the June balance of payments showing a deficit for the June year of $3 billion, or around 2.5 percent of GDP. The figures showed a current account deficit for the June quarter of $624 million, compared to a March quarter surplus of $836 million.
“Our trading surplus improved but was offset by investment income trends,” Trevor Mallard said.
“Ironically, foreign companies earned better profits
in a strong New Zealand economy than New Zealand companies
earned in the weaker global market.”