NZ: Q1 current account deficit narrows to 3.6% of GDP – Westpac

Michael Gordon, senior economist at Westpac, notes that New Zealand’s current account deficit narrowed from 3.8% to 3.6% of GDP in the year to March.

Key Quotes

“The trade balance has improved compared to a year ago, reflecting stronger dairy exports and a moderation in imports.”

“Earnings on New Zealanders’ overseas investments were stronger than expected.”

“We expect the current account deficit to remain around this level over the rest of this year.”