New Zealand Q4 Current Account Deficit NZ$5.9 Billion

(RTTNews) - New Zealand posted a seasonally adjusted current account deficit of NZ$5.9 billion in the fourth quarter of 2024, Statistics New Zealand said on Wednesday.

The goods deficit narrowed to NZ$1.7 billion in Q4, while the services balance moved from a deficit to a surplus of NZ$41 million.

The primary income deficit widened to NZ$4.2 billion and the financial account saw a net outflow of NZ$3.2 billion.

The current account deficit for the year ended December 2024 narrowed to NZ$26.4 billion (6.2 percent of gross domestic product (GDP)), compared with the NZ$27.3 billion deficit for the December 2023 year (6.5 percent of GDP).