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Rise In Imports Sees Current Account Deficit Widen
New Zealand’s seasonally adjusted current account deficit widened by $1.6 billion to $2.1 billion in the December 2020 quarter, Stats NZ said today.
“The widening of the quarterly deficit was driven by a rise in goods imports and a fall in services exports, which includes spending by overseas visitors in New Zealand,” international statistics senior manager Darren Allan said.
“Imports of crude oil and motor cars fell sharply early in 2020, following COVID-19 travel restrictions, but those imports have since partially risen towards pre-COVID-19 levels.”
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- Rise in imports sees current account deficit widen
- Balance of payments and international investment position: December 2020 quarter
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