New Zealand Current Account to GDP

New Zealand recorded a Current Account deficit of 3.40 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in New Zealand is reported by the Statistics New Zealand. Current Account to GDP in New Zealand averaged -4.68 Percent from 1980 until 2013, reaching an all time high of -0.90 Percent in 1988 and a record low of -8.90 Percent in 1984. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - New Zealand Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-3.40 -4.10 -0.90 -8.90 -3.23 | 2014/06 1980 - 2013 Percent Yearly

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New Zealand Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
External Debt 249126.00 2013-12-31 249817.00 271406.00 67673.00 247670.73 2014-06-30 NZD Million [+]
Foreign Direct Investment 2347.00 2013-11-15 2175.00 2654.00 676.00 2238.69 2014-06-30 NZD Million [+]
Terms of Trade 1387.00 2013-11-15 1355.00 1438.00 796.00 1499.07 2014-06-30 Index Points [+]
Tourist Arrivals 455221.00 2014-02-15 530889.00 530889.00 2751.00 407889.82 2014-06-30 [+]
Current Account -837.00 2013-11-15 -2577.00 354.00 -4298.00 -1384.01 2014-06-30 NZD Million [+]
Current Account to GDP -3.40 2013-12-31 -4.10 -0.90 -8.90 -3.23 2014-06-30 Percent [+]
Balance of Trade 817.77 2014-02-15 286.16 1157.64 -1251.92 694.35 2014-06-30 NZD Million [+]
Exports 4555.79 2014-02-15 4070.39 4749.52 19.68 4347.42 2014-06-30 NZD Million [+]
Imports 3738.02 2014-02-15 3784.23 4820.02 37.85 4048.13 2014-06-30 NZD Million [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


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The Reserve Bank of New Zealand left its benchmark cash rate unchanged at a record low 2.5 percent on January 29th, but said higher rates are likely in the near future to fight inflation pressures from the housing and building sectors.
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In the fourth quarter of 2013, New Zealand inflation rate accelerated to an annual 1.6 percent, the highest annual rise since the March 2012 quarter.
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In November of 2013, New Zealand trade balance turned into a NZD 183 million surplus. This is the first trade surplus for a November month since 1991 and follows a trade deficit in October 2013, which was the lowest deficit for an October month since the mid-1990s. For the first time, China has surpassed Australia as New Zealand’s top goods export destination on an annual basis.
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