External Deficit Steady

New Zealand's annual current account deficit remained stable at 3.6% of GDP in the March 2026 quarter. The data aligns with market expectations and does not alter GDP growth forecasts for the first quarter.

Key Takeaways

• 1.New Zealand's annual current account deficit held steady at 3.6% of GDP in the year to March 2026.
• 2.The latest balance of payments data suggests no reason to alter Q1 GDP forecasts, which remain at 0.9% q/q.
• 3.New Zealand’s net international investment liability position continues to shrink, reaching 42.8% of GDP.

Table of Contents

• Prior narrowing draws to a close
• Visitors spending more
• Contact Details

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