Economists at ANZ Bank analyze New Zealand’s current account data and its implication for the Kiwi.The annual current account deficit came in at 8.5% of GDP in Q12023, narrowing from a revised 9.0% in Q4 2022 .
All up, New Zealand remains severely out of balance, but with tourism recovering, we now appear past the worst of it. That said, it could be a long road to something more sustainable. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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