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Quarterly Current Account Deficit $7.3b: Balance Of Payments & International Investment Position: March 24 Quarter
New Zealand’s seasonally adjusted current account deficit widened by $0.3 billion to $7.3 billion in the March 2024 quarter, according to figures released by Stats NZ today.
Services exports fall
In the March 2024 quarter, the seasonally adjusted services deficit widened by $1.1 billion.
Services exports fell $0.9 billion, driven by travel exports (spending by overseas visitors while in New Zealand).
“In the March 2024 quarter, the seasonal peak in visitor spending was less pronounced than it has been in the past,” institutional sectors senior manager Paul Pascoe said.
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- Quarterly current account deficit $7.3 billion
- Balance of payments and international investment position: March 2024 quarter
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