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


Further Reduction in BoP Deficit

Balance of Payments: September 2000 quarter

Further Reduction in BoP Deficit

The current account deficit for the September 2000 quarter was $2.1 billion, Government Statistician Brian Pink said today. After adjusting for seasonal factors, the current account deficit recorded its third consecutive quarterly decrease. This decrease was the result of a $105 million rise in the goods and services surplus combined with a $102 million fall in the income and current transfers deficit.

Goods exports rose at a faster rate than goods imports for the third consecutive quarter, causing the rise in the goods and services surplus. The New Zealand dollar depreciating against the currencies of our main trading partners and higher world prices for crude oil pushed up prices for both exports and imports of goods. Over the same period, the services balance has remained relatively flat.

The income deficit fell $84 million and the current transfers surplus rose $18 million, resulting in a decrease in the income and current transfers deficit. This is the second consecutive fall in the income deficit, driven by a decrease in returns that foreigners received from their investments in New Zealand.

The current account balance trend has now returned to the $1.0 billion to $1.5 billion deficit band that it occupied in the mid-1990s. The trend for the goods and services balance has remained in surplus in the September 2000 quarter and has returned to levels that it occupied in the mid-1990s. The decrease in the deficit for the income and current transfers balance trend over the latest two quarters has been driven by the investment income balance, while the current transfers balance remains relatively flat.

The current account deficit for the year ended September 2000 was $6,911 million. This compares with a $7,336 million deficit for the year ended June 2000 and a $4,927 million deficit for the year ended September 1999.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: David McLean Appointed As KiwiRail Chair

David McLean has been appointed as Chair of KiwiRail Holdings Ltd, the Minister for State Owned Enterprises Dr David Clark and Minister of Finance Grant Robertson announced today... More>>

Dairy NZ: ‘More Milk From Fewer Cows’ Trend Continues In A Record Year
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>