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Balance of Payments and International Investment Position: June 2017 quarter
Embargoed until 10:45am  –  20 September 2017
Key facts
  • For the year ended June 2017, New Zealand's current account deficit was $7.5 billion (2.8 percent of GDP; it was 2.7 percent of GDP for the June 2016 year).
  • The seasonally adjusted current account balance was a $1,598 million deficit in the June 2017 quarter ($1,187 million smaller than the March 2017 quarter’s deficit).
  • The goods deficit decreased $677 million to reach $446 million.
  • The services surplus increased $295 million to reach $1,280 million, the highest on record.
  • New Zealand’s primary income deficit decreased to $1,910 million in the June 2017 quarter, $403 million smaller than in the March 2017 quarter.
  • New Zealand’s secondary income deficit increased to $522 million in the June 2017 quarter, $188 million larger than the March 2017 quarter deficit.
  • The capital account balance was a deficit of $14 million for the June 2017 quarter, down from the surplus of $3 million in the March 2017 quarter.
  • The financial account net inflow was $110 million for the June 2017 quarter. This is an increase from the revised financial account net outflow of $787 million for the March 2017 quarter.
  • New Zealand’s net international liability position was $154.2 billion (57.5 percent of GDP) at 30 June 2017, up from a revised $153.0 billion at 31 March 2017 but down slightly as a percentage of  GDP (57.8 percent).
  • New Zealand’s net external debt position was $145.5 billion (54.3 percent of GDP) at 30 June 2017, up from a revised net external debt position of $144.4 billion (54.6 percent of GDP) at 31 March 2017.
  • The outstanding reinsurance balance for the Canterbury earthquakes is $1.3 billion while the outstanding balance for the Kaikōura earthquakes is $991 million. Revisions to recognised reinsurance claims for the Canterbury and Kaikōura earthquakes are reported in the quarter when the earthquakes occurred.

 

Related links has information about data quality and revisions.

Liz MacPherson, Government Statistician
ISSN 1178-0215
20 September 2017

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