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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NEW ZEALAND
New Zealand’s current account deficit narrowed significantly in 2023 compared with the previous year. As a share of GDP the deficit in the year to Q4 2023 was 6.9% down 1.9pp and $5.6bn from Q4 2022. The Q4 deficit narrowed to -$7.84bn from -$10.97bn in Q3. 2022 saw NZ post one of the worst current account deficits in the OECD and its worst result since the series began in 1988, and so the improvement last year is significant.
- The progress in the year to Q4 was driven by the services deficit which saw a $6.1bn improvement as the tourism sector continued to recover from the pandemic.
- The goods deficit narrowed $0.3bn, as imports fell more than exports, but the primary income deficit widened $0.8bn.
NZ current account % GDP YTD
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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