New Zealand Q3 BoP Current Account Balance: -5.012bn (expected is -5.3bn)

New Zealand Q3 BoP Current Account Balance: -5.012bn

• expected is -5.3bn
• prior was -1.065bn

Puts the NZ currence account balance at 2.6% of GDP in the 12 months to September (vs. consensus estimate at 2.8%)

From Statistics NZ:

• “With the value of goods exports falling and imports rising, the current account deficit is now the largest it has been in nearly six years”
• New Zealand’s annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014