Balance of Payments and International Investment Position: June 2008 quarter

Embargoed until 10:45am  –  19 September 2008

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Media release  – 
Imports drive up current account deficit

Highlights

  • New Zealand's seasonally adjusted current account deficit for the June 2008 quarter was $4,623 million, $1,097 million larger than in the March 2008 quarter.
  • The current account deficit for the year ended June 2008 was $14,967 million, compared with $14,211 million for the year ended March 2008.
  •  There was a net inflow of capital into New Zealand of $4.5 billion in the June 2008 quarter, mainly due to a withdrawal of New Zealand investment from abroad.
  • New Zealand's net international liabilities were $159.2 billion at 30 June 2008, an increase of 3.5 percent from 31 March 2008.

Graph, Seasonally Adjusted Balances.

  Graph, Financial Account (Flows).
Geoff Bascand
Government Statistician
19 September 2008
ISSN 1178-0215

 

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