NZ’s tourist influx narrows current account gap

TBNZ

New Zealand’s annual current account deficit narrowed in the third quarter as an influx of big-spending tourists made up for the impact of weaker dairy export prices.

The current account gap was $8.1 billion, or 3.3 percent of gross domestic product in the 12 months ended Sept. 30, from a revised gap of $8.3 billion, or 3.4 percent of GDP three months earlier, Statistics New Zealand said.

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Source Credits: Jonathan Underhill in BusinessDesk

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