current account deficit tagged posts
June 19, 2013 New Zealand Finance
New information shows that the gap between imports and exports in New Zealand is closing.
On June 19th Statistics New Zealand released the Balance of Payments and International Investment Position report for the march quarter of this year, showing that the current account deficit fell by NZD 0.3 billion over the quarter.
The seasonally adjusted current account deficit for the March quarter was reported to be NZD 2.2 billion, while in the previous quarter it had reached NZD 2.5 billion.
The decrease in the current account deficit was mainly attributed to an increase in the export of dairy product, both in terms of value and volume.
The net exports also rose due to an increase in the amount of money spent in New Zealand by foreign tourists.
For the year ending March 2013 the current account...Read More
September 20, 2012 New Zealand Finance
New Zealand’s currency account deficit has risen compared to the March quarter and the June quarter of 2011.
On September 19th Statistics New Zealand released the Balance of Payments and International Investment Position for New Zealand for the June 2012 quarter, showing that seasonally adjusted current account deficit reached NZD 2.9 billion.
The current account deficit for the June 2012 quarter was NZD 3.5 billion higher than in the same period in 2011 year, and NZD 0.3 billion higher than in the March quarter.
The current account deficit is approximately 4.9 percent of the national GDP.
The increasing annual deficit was attributed to rising levels of imported of goods into New Zealand over the year, especially petroleum and petroleum derivatives.
Statistics New Zealand also noted that a...Read More
December 22, 2011 New Zealand Taxation
New Zealand’s current account deficit has continued to expand, as price for the country’s export commodities fall.
On December 21st Statistics New Zealand released its quarterly report on the country’s import and export levels, showing that the national current account deficit was larger than expected.
During the September quarter of 2011 the current account deficit in New Zealand reached NZD 2.7 billion, which exceeded the deficit recorded in the June 2011 quarter by NZD 0.7 billion. New Zealand’s total export of goods was valued at NZD 111.7 billion during the latest quarter.Read More
The increased current account deficit was attributed to falling prices of New Zealand’s primary export commodities, especially meat, dairy and forestry products...
June 25, 2010 New Zealand Finance
The New Zealand current account deficit has reached its lowest level in twenty years, in the year to March.
On June 23rd Statistics New Zealand released the latest current account deficit figures, revealing a decrease in the country’s current account deficit. For the year ended March 2010 the current account deficit was NZD 4.5 billion, compared to NZD 14.6 billion for the same period a year ago. The latest figure translates to 2.4 percent of the national GDP, the lowest recorded level since September 1989. The adjusted deficit for the quarter to March 2010 was NZD 1.6 billion.
The improvement in the current account was attributed to an increase in the price of export goods...Read More