New Zealand - Q2 Current Account
BoP Current Account Balance, -1.216bn
- expected -1.5bn, prior was +0.662bn
Current Account to GDP Ratio, -3.5%
- expected -3.7%, prior was -3.6%
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NZD a tickle higher, not much in it.
This is not a big market mover for the currency
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More added (summary via FT):
- A drop in the value of services exports for the quarter
- The prior quarter's surplus was the first in 12 months, and one of only 3 in the past 5 years
- Surplus in goods and services dropped to NZ$1.17bn from NZ$3.14bn
- Services exports from a March quarter figure that was the highest for some time
- Exports lifted to NZ$352m from a deficit in the March quarter of NZ$147m
- Imports of both goods and services increased during the June quarter
