New Zealand's seasonally adjusted current account deficit narrowed by $53 million to $5.5 billion in the March 2025 quarter, according to figures released by Stats NZ today.
"The value of New Zealand goods exports increased in the March 2025 quarter. However, rising export values were partly offset by increases in goods imports," international accounts spokesperson Viki Ward said.
"The March 2025 quarter current account deficit is very similar to the December 2024 quarter."
The value of services New Zealand imported from the rest of the world increased, while the value of services exported decreased in the March 2025 quarter.
In the March 2025 quarter, foreign investors earned more in dividends and interest from their New Zealand investments, than New Zealand investors did from their investments overseas.
| Quarter | Current account balance | Goods balance | Services balance | Primary and secondary income balance |
| Mar-05 | -2309000000 | -761000000 | 605000000 | -2153000000 |
| Jun-05 | -2871000000 | -997000000 | 506000000 | -2379000000 |
| Sep-05 | -3105000000 | -1486000000 | 836000000 | -2454000000 |
| Dec-05 | -3092000000 | -1070000000 | 572000000 | -2594000000 |
| Mar-06 | -3671000000 | -1335000000 | 614000000 | -2950000000 |
| Jun-06 | -2718000000 | -892000000 | 672000000 | -2498000000 |
| Sep-06 | -2668000000 | -602000000 | 573000000 | -2639000000 |
| Dec-06 | -3010000000 | -953000000 | 806000000 | -2864000000 |
| Mar-07 | -3225000000 | -1051000000 | 778000000 | -2952000000 |
| Jun-07 | -3283000000 | -1045000000 | 702000000 | -2940000000 |
| Sep-07 | -3259000000 | -770000000 | 736000000 | -3226000000 |
| Dec-07 | -2688000000 | -100000000 | 601000000 | -3189000000 |
| Mar-08 | -3191000000 | -554000000 | 632000000 | -3270000000 |
| Jun-08 | -4263000000 | -1398000000 | 503000000 | -3368000000 |
| Sep-08 | -3913000000 | -929000000 | 312000000 | -3296000000 |
| Dec-08 | -3190000000 | -120000000 | 251000000 | -3321000000 |
| Mar-09 | -1940000000 | 521000000 | 538000000 | -2999000000 |
| Jun-09 | -315000000 | 537000000 | 508000000 | -1360000000 |
| Sep-09 | 340000000 | 599000000 | 771000000 | -1030000000 |
| Dec-09 | -2437000000 | 123000000 | 662000000 | -3222000000 |
| Mar-10 | -489000000 | 773000000 | 470000000 | -1732000000 |
| Jun-10 | -891000000 | 1104000000 | 573000000 | -2568000000 |
| Sep-10 | -981000000 | 759000000 | 476000000 | -2217000000 |
| Dec-10 | -2157000000 | 296000000 | 364000000 | -2818000000 |
| Mar-11 | -1641000000 | 730000000 | 309000000 | -2681000000 |
| Jun-11 | -1252000000 | 982000000 | 176000000 | -2411000000 |
| Sep-11 | -1722000000 | 454000000 | 384000000 | -2560000000 |
| Dec-11 | -1302000000 | 701000000 | 629000000 | -2632000000 |
| Mar-12 | -2488000000 | -275000000 | 183000000 | -2396000000 |
| Jun-12 | -2236000000 | 128000000 | 298000000 | -2662000000 |
| Sep-12 | -1781000000 | 207000000 | 267000000 | -2254000000 |
| Dec-12 | -1974000000 | 28000000 | 164000000 | -2166000000 |
| Mar-13 | -1956000000 | 131000000 | 291000000 | -2378000000 |
| Jun-13 | -2153000000 | -198000000 | 316000000 | -2272000000 |
| Sep-13 | -2082000000 | -172000000 | 294000000 | -2204000000 |
| Dec-13 | -851000000 | 1574000000 | 155000000 | -2580000000 |
| Mar-14 | -766000000 | 1489000000 | 302000000 | -2556000000 |
| Jun-14 | -2176000000 | 210000000 | 258000000 | -2644000000 |
| Sep-14 | -2292000000 | -244000000 | 328000000 | -2377000000 |
| Dec-14 | -2267000000 | -367000000 | 762000000 | -2662000000 |
| Mar-15 | -1650000000 | -92000000 | 871000000 | -2429000000 |
| Jun-15 | -2134000000 | -730000000 | 1070000000 | -2474000000 |
| Sep-15 | -1325000000 | -481000000 | 1312000000 | -2156000000 |
| Dec-15 | -1704000000 | -767000000 | 1255000000 | -2193000000 |
| Mar-16 | -970000000 | -389000000 | 1402000000 | -1984000000 |
| Jun-16 | -1356000000 | -551000000 | 1230000000 | -2034000000 |
| Sep-16 | -1766000000 | -730000000 | 1297000000 | -2334000000 |
| Dec-16 | -1414000000 | -872000000 | 1381000000 | -1924000000 |
| Mar-17 | -2451000000 | -850000000 | 1182000000 | -2783000000 |
| Jun-17 | -1621000000 | -576000000 | 1495000000 | -2540000000 |
| Sep-17 | -1785000000 | -101000000 | 1359000000 | -3043000000 |
| Dec-17 | -2278000000 | -524000000 | 1340000000 | -3094000000 |
| Mar-18 | -3327000000 | -1623000000 | 1390000000 | -3094000000 |
| Jun-18 | -3427000000 | -1483000000 | 1364000000 | -3308000000 |
| Sep-18 | -2981000000 | -890000000 | 941000000 | -3032000000 |
| Dec-18 | -2942000000 | -1133000000 | 1088000000 | -2897000000 |
| Mar-19 | -2449000000 | -788000000 | 926000000 | -2587000000 |
| Jun-19 | -2708000000 | -1037000000 | 894000000 | -2565000000 |
| Sep-19 | -2291000000 | -1170000000 | 1150000000 | -2271000000 |
| Dec-19 | -1597000000 | -797000000 | 980000000 | -1780000000 |
| Mar-20 | -1011000000 | -120000000 | 927000000 | -1818000000 |
| Jun-20 | -252000000 | 1821000000 | -308000000 | -1764000000 |
| Sep-20 | -1040000000 | 709000000 | -30000000 | -1719000000 |
| Dec-20 | -2037000000 | 84000000 | -769000000 | -1352000000 |
| Mar-21 | -5353000000 | -1418000000 | -1779000000 | -2156000000 |
| Jun-21 | -3313000000 | -524000000 | -453000000 | -2336000000 |
| Sep-21 | -5305000000 | -1844000000 | -1068000000 | -2393000000 |
| Dec-21 | -6682000000 | -1932000000 | -2018000000 | -2732000000 |
| Mar-22 | -8847000000 | -2865000000 | -3059000000 | -2923000000 |
| Jun-22 | -9023000000 | -3280000000 | -2339000000 | -3404000000 |
| Sep-22 | -7459000000 | -2410000000 | -1840000000 | -3208000000 |
| Dec-22 | -9317000000 | -3617000000 | -2225000000 | -3475000000 |
| Mar-23 | -7893000000 | -3959000000 | -1401000000 | -2533000000 |
| Jun-23 | -7045000000 | -2420000000 | -806000000 | -3819000000 |
| Sep-23 | -6973000000 | -3154000000 | 107000000 | -3927000000 |
| Dec-23 | -6709000000 | -2754000000 | -316000000 | -3639000000 |
| Mar-24 | -6948000000 | -2541000000 | -543000000 | -3864000000 |
| Jun-24 | -7029000000 | -2606000000 | -460000000 | -3962000000 |
| Sep-24 | -6576000000 | -1956000000 | -494000000 | -4126000000 |
| Dec-24 | -5601000000 | -1681000000 | 47000000 | -3967000000 |
| Mar-25 | -5548000000 | -574000000 | -645000000 | -4330000000 |
| Year ended in quarter | Annual current account balance to GDP ratio (%) |
| Mar-05 | -5.1 |
| Jun-05 | -6.1 |
| Sep-05 | -6.6 |
| Dec-05 | -7.1 |
| Mar-06 | -7.8 |
| Jun-06 | -7.6 |
| Sep-06 | -7.3 |
| Dec-06 | -7.2 |
| Mar-07 | -6.8 |
| Jun-07 | -6.9 |
| Sep-07 | -7.1 |
| Dec-07 | -6.9 |
| Mar-08 | -6.6 |
| Jun-08 | -7.0 |
| Sep-08 | -7.5 |
| Dec-08 | -7.7 |
| Mar-09 | -7.1 |
| Jun-09 | -5.0 |
| Sep-09 | -2.6 |
| Dec-09 | -2.2 |
| Mar-10 | -1.5 |
| Jun-10 | -1.7 |
| Sep-10 | -2.4 |
| Dec-10 | -2.3 |
| Mar-11 | -2.8 |
| Jun-11 | -2.8 |
| Sep-11 | -3.2 |
| Dec-11 | -2.8 |
| Mar-12 | -3.1 |
| Jun-12 | -3.6 |
| Sep-12 | -3.6 |
| Dec-12 | -3.9 |
| Mar-13 | -3.6 |
| Jun-13 | -3.6 |
| Sep-13 | -3.8 |
| Dec-13 | -3.2 |
| Mar-14 | -2.5 |
| Jun-14 | -2.4 |
| Sep-14 | -2.5 |
| Dec-14 | -3.1 |
| Mar-15 | -3.4 |
| Jun-15 | -3.3 |
| Sep-15 | -3.1 |
| Dec-15 | -2.8 |
| Mar-16 | -2.4 |
| Jun-16 | -2.1 |
| Sep-16 | -2.2 |
| Dec-16 | -2.1 |
| Mar-17 | -2.5 |
| Jun-17 | -2.5 |
| Sep-17 | -2.6 |
| Dec-17 | -2.9 |
| Mar-18 | -3.1 |
| Jun-18 | -3.6 |
| Sep-18 | -4.0 |
| Dec-18 | -4.2 |
| Mar-19 | -3.9 |
| Jun-19 | -3.5 |
| Sep-19 | -3.3 |
| Dec-19 | -2.9 |
| Mar-20 | -2.4 |
| Jun-20 | -1.6 |
| Sep-20 | -1.0 |
| Dec-20 | -1.1 |
| Mar-21 | -2.7 |
| Jun-21 | -3.4 |
| Sep-21 | -4.7 |
| Dec-21 | -6.0 |
| Mar-22 | -6.8 |
| Jun-22 | -8.1 |
| Sep-22 | -8.7 |
| Dec-22 | -9.2 |
| Mar-23 | -8.6 |
| Jun-23 | -7.9 |
| Sep-23 | -7.7 |
| Dec-23 | -6.9 |
| Mar-24 | -6.6 |
| Jun-24 | -6.6 |
| Sep-24 | -6.5 |
| Dec-24 | -6.1 |
| Mar-25 | -5.7 |
/Stats NZ Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.
