N.Z. Annual Current-Account Gap Narrows as Foreigners Earn Less
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New Zealand’s annual current-account deficit narrowed in the year through September as earnings by foreign-owned companies and banks declined, offsetting a rise in imports and increased overseas travel.
The shortfall was 4.7 percent of gross domestic product in the year ended Sept. 30 compared with a revised 4.8 percent in the 12 months through June, Statistics New Zealand said in Wellington today. The gap was smaller than the 4.8 percent median forecast in a Bloomberg News survey of nine economists.