Travel Exports Gain Narrows Services Deficit

New Zealand’s services trade deficit narrowed to $696 million in the December 2023 quarter, compared with $2.1 billion in the December 2022 quarter, according to data released by Stats NZ today.

The main contributor to the narrowing of the deficit was an increase in travel exports, which increased 44 percent compared with the December 2022 quarter to $3.7 billion. Travel exports represent the amount spent by visitors in New Zealand during the period.

“Travel exports continue to rise as international travel patterns slowly return to normal,” international trade manager Alasdair Allen said.

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• Travel exports gain narrows services deficit
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