Balance of Payments and International Investment Position: March 2009 quarter

Highlights

New Zealand's seasonally adjusted current account deficit was $2,682 million in the March 2009 quarter, $1,042 million smaller than the December 2008 quarter deficit. The current account deficit for the year ended March 2009 was 8.5 percent of GDP, compared with a deficit of 9.0 percent of GDP for the year ended December 2008.		The March 2009 quarter current account deficit was financed by a $2.0 billion net inflow of financial capital from abroad. Net international liabilities were $176.6 billion (98.2 percent of GDP) at 31 March 2009, compared with $167.4 billion (93.2 percent of GDP) at 31 December 2008.