WELLINGTON, June 17 (Xinhua) -- New Zealand's current account deficit widened slightly to 4.6 billion NZ dollars (2.68 billion U.S. dollars) in the March 2026 quarter, up 100 million NZ dollars from the previous quarter, official data showed on Wednesday.
The increase was driven mainly by a larger goods deficit, which expanded to 1.1 billion NZ dollars from 757 million NZ dollars in the December 2025 quarter, Stats NZ reported.
"New Zealand has a current account deficit when we spend more than we earn from our transactions with the rest of the world," Stats NZ general manager and macroeconomic spokesperson Jason Attewell said.
Goods imports rose 3.2 percent to 22.1 billion NZ dollars, led by higher purchases of mechanical and machinery equipment, while goods exports increased by 1.7 percent to 21 billion NZ dollars, led by fruit and meat shipments but offset by weaker dairy exports, the statistics department noted.
The services balance remained in surplus at 33 million NZ dollars in the March 2026 quarter, narrowing from 48 million NZ dollars previously, as imports and exports both rose to 9.4 billion NZ dollars, it said, adding that travel services led export growth.
The primary income deficit narrowed to 3.3 billion NZ dollars from 3.5 billion NZ dollars, reflecting lower earnings by both New Zealand investors overseas and foreign investors domestically, statistics showed.
New Zealand's net international liability position stood at 193.1 billion NZ dollars at the end of March, slightly lower than three months earlier, Stats NZ said.
On an annual basis, the current account deficit was 16.3 billion NZ dollars, equivalent to 3.6 percent of gross domestic product, broadly unchanged from the previous year, added the department. ■
