Balance of Payments Current Account Balance in NZD comes in -2.695bn
- expected -2.675bn, prior -3.521bn
Current account to GDP ratio is -0.8%, which was the expected and the prior.
NZ's goods balance has improved due to exports having been more resilient than imports through the pandemic.
- The balance for income has improved with lower domestic corporate profitability, alongside lower interest rates offshore.
As the headlines says, NZ dollar little changed.