New Zealand Has NZ$4.21 Billion Current Account Deficit In Q2

(RTTNews) - New Zealand posted a current account deficit of NZ$4.21 billion in the second quarter of 2023, Statistics New Zealand said on Wednesday.

That beat forecasts for a shortfall of NZ$4.80 billion following the NZ$5.22 billion deficit in the previous three months.

On a yearly basis, the current account deficit was NZ$29.76 billion. That follows the NZ$33.03 billion deficit in the first quarter.

In the year ended 30 June 2023, goods imports increased NZ$8.4 billion to NZ$85.8 billion, driven by fuel, motor vehicles, and aircraft. goods exports increased NZ$5.5 billion to NZ$73.3 billion, driven by dairy products, including milk powder, butter, and cheese.