Main Media English

Get Latest News, India News, World News at Main Media English

Support Us

New Zealand’s annual current account deficit $18.7 bn

IANS logo Reported By IANS |
Published On :

Wellington, Dec 13 (IANS) New Zealand’s annual current account deficit was recorded at NZ$30.6 billion ($18.7 billion), 7.6 per cent of gross domestic product (GDP), in the year ended September 30, 2023, according to the statistics department Stats NZ on Wednesday.

The figure was compared to the NZ$31.1 billion deficit reported in the year ended September 30, 2022 when the deficit was 8.3 per cent of GDP, reports Xinhua news agency.

Also Read Story

Empty chairs, forced attendance allegations cast shadow on INDIA bloc’s Delhi rally

Nagaland’s sole LS seat to witness triangular contest in 2024 polls

Odisha Crime Branch busts racket involved in Rs 1.04 cr fraud

IPL 2024: Under-pressure Mumbai Indians hope to shine in home comfort (Preview)

IPL 2024: Sai Sudharsan, David Miller star as clinical Gujarat beat Hyderabad by seven wickets

Viksit Bharat Ambassador meet-up: India is world’s 3rd largest start-up ecosystem today, says I&B Minister Anurag Thakur

Amit Shah chairs meeting of Lok Sabha core committees in Jaipur, holds roadshow in Sikar

IPL 2024: Ishant Sharma back as Delhi Capitals win toss, elect to bat against CSK

Viksit Bharat Ambassador Jaipur meet-up: Participants heap praise on the initiative

The narrowing annual current account deficit in the year ended September 30, 2023 was due to a NZ$4.1 billion narrowing of the services deficit, offset by a NZ$2.5 billion widening of the goods deficit and a NZ$1.4 billion widening of the primary income deficit, it said.


Services exports drove the narrowing services deficit, and overseas visitor arrivals had continued to rise since the easing of border restrictions, Stats NZ said.

“More overseas visitors to New Zealand in the year ended September 2023 meant an increase in tourism spending, but levels are still below what they were before COVID-19,” said Jason Attewell, Stats NZ general manager of economic and environment insights.

“While not as large, spending by New Zealanders on overseas travel has returned to previous levels,” Attewell said.

Goods imports contributed to the widening goods deficit, with non-crude fuel imports including diesel, jet fuel, and petrol increasing by 52 per cent, he said.

Meat exports, largely sheep meat and beef, decreased by 12 per cent, which was partly offset by a 3 per cent increase in dairy exports, statistics show.

–IANS

ksk/

(This report is auto-generated from IANS news service. 'Main Media' holds no responsibility for its content.)

Get involved in bringing the ground realities of Seemanchal. Click the "Support Us" button to join our membership.

Support Us

Related News

Pawar vs Pawar: A fight for supremacy in Baramati

Rebel Wilson opens up on weight loss journey, says she’s an emotional eater

Shraddha Kapoor asks fans how they wasted 1st quarter of 2024

PM Modi virtually interacts with party workers in Varanasi

AIADMK will ally again with BJP after LS elections, says Chidambaram

PE-VC investments fall by 8 per cent to $6.2 billion in Q1

Cut! Mark Ronson’s role in Amy Winehouse biopic gets axed

Leave a Reply

Your email address will not be published. Required fields are marked *