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- New Zealand’s seasonally adjusted current account deficit is NZ$1.8 billion in the third quarter
New Zealand’s seasonally adjusted current account deficit is NZ$1.8 billion in the third quarter
Statistics New Zealand released its current account data on late Tuesday evening. New Zealand's seasonally adjusted current account deficit was NZ$1.8 billion in the third quarter, down NZ$322 million from the second quarter.
An increase in export earnings offset the rise in the overseas expenditure.
"Overseas visitor spending is driving our services surplus, which has grown each quarter since December 2013. On average, visitors spent more per person this quarter than last, which was the key driver for the increase in total expenditure," international statistics manager Jason Attewell said.
"The falling New Zealand dollar may also have been a factor in attracting visitors to New Zealand as the better exchange rate meant visitors could get more for their money," he added.
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