Current Account in New Zealand

New Zealand Current Account | Economic News & Forecasts

New Zealand - Current Account

Available data indicates the economy went through a softer patch in Q3 compared to Q2, which saw GDP expand at the strongest quarterly pace in two years on the back of higher public and private expenditure. Growth of retail sales was essentially flat in Q3 as higher fuel prices weighed on household budgets, hinting that consumer spending lost stride in the quarter. Furthermore, although overall construction volume reached a new high in Q3, the pace at which it rose moderated from Q2 due to stagnant building activity in the non-residential sector, likely dragging on overall investment gains. Meanwhile, electronic card spending declined on a monthly basis, on average, in October–November which, coupled with lower consumer confidence in the same two-month period, are early signs that relatively soft dynamics persist in Q4. This is further supported by weak external sector metrics, in which the third largest ever monthly goods trade deficit was recorded in October, exceeded only by the previous two months.

New Zealand - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -3.2  -3.1  -2.2  -2.7  

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New Zealand Current Account Chart

New Zealand Current Account
Note: Current account balance as % of GDP.
Source: Statistics New Zealand and FocusEconomics calculations.

New Zealand Facts

Bond Yield2.301.20 %Jan 16
Exchange Rate0.68-1.69 %Jan 16
Stock Market4,0030.11 %Jan 16

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