News Bites

New Zealand's current account deficit falls

11:09 am on 16 December 2015

The gap between what New Zealand earned and spent internationally has narrowed.

Official figures show the seasonally adjusted current account deficit stands at $1.75 billion in the three months to September, compared with a $2.1bn shortfall in the previous quarter.

Statistics New Zealand said the smaller deficit was due to a rise in overseas visitor spending.

On an annual basis, the deficit narrowed to $8.1bn, or 3.3 percent of the value of the economy.