Current Account Returns To Deficit As Imports Rise

The seasonally adjusted current account deficit was $0.4 billion in the September 2020 quarter, compared with last quarter’s record surplus of $0.6 billion, Stats NZ said today.

The main contributor to the deficit was the rise in goods imports of $1.1 billion, following the fall in the June 2020 quarter.

“The rise in goods imports was mainly driven by an increase in car imports,” international statistics senior manager Peter Dolan said.

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