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Quarterly Current Account Deficit $7.2 Billion
New Zealand’s seasonally adjusted current account deficit widened by $269 million to $7.2 billion in the June 2024 quarter, according to figures released by Stats NZ today.
Primary income deficit widens
In the June 2024 quarter, the primary income deficit widened by $291 million to $3.8 billion.
The overseas earnings of New Zealand investors increased by $36 million, while the earnings of overseas investors in New Zealand increased by $263 million.
“In the June 2024 quarter, New Zealand continued to issue bonds to overseas investors, which further added to the amount of interest paid on all issued bonds,” senior manager Stuart Jones said.
The overseas earnings of New Zealand investors were largely profits from overseas-owned companies.
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- Quarterly current account deficit $7.2 billion
- Balance of payments and international investment position: June 2024 quarter
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