Balance of Payments and International Investment Position: December 2010 quarter

Embargoed until 10:45am  –  23 March 2011

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    Media release  – 
    Current account back in deficit but net liabilities fall

    Highlights

    • New Zealand had a seasonally adjusted current account deficit of $2,813 million in the December 2010 quarter, a turnaround of $4,550 million from the September 2010 quarter surplus.
    • For the year ended December 2010 the current account deficit was 2.3 percent of GDP, compared with 2.8 percent for the year ended December 2009.

     

    • The large turnaround was caused by a transfers deficit, following a surplus in the September 2010 quarter as a result of reinsurance claims arising from the Canterbury earthquakes.

     
    • Net international liabilities were $159.0 billion (81.7 percent of GDP) at 31 December 2010, $1.3 billion less than at 30 September 2010.

     
     Graph,seasonally adjusted balances Graph,Net international investment position 
     
    Geoff Bascand
    Government Statistician

     23 March 2011
    ISSN 1178-0215

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