New Zealand - Current Account Balance





New Zealand: Current Account Balance

Mnemonic TAB.INZL
Unit Mil. NZD, SA
Adjustments Seasonally Adjusted
Quarterly 0.92 %
Data 2018 Q4 -2,471
2018 Q3 -2,494

Series Information

Source Statistics New Zealand
Release Balance of Payments
Frequency Quarterly
Start Date 9/30/2011
End Date 12/31/2018

New Zealand: Trade

Reference Last Previous Units Frequency
Balance of Goods May 2019 264 383 Mil. NZD, NSA Monthly
Exports of Goods May 2019 5,805 5,504 Mil. NZD, NSA Monthly
Imports of Goods May 2019 5,541 5,122 Mil. NZD, NSA Monthly
Exports of Goods and Services 2019 Q1 21,055 21,074 Mil. NZD, SA Quarterly
Imports of Goods and Services 2019 Q1 21,148 21,135 Mil. NZD, SA Quarterly
Net Exports 2019 Q1 -93 -61 Mil. NZD, SA Quarterly
Real Exports of Goods and Services 2019 Q1 18,626 18,119 Mil. Ch. 2009/2010 NZD, SA Quarterly
Real Imports of Goods and Services 2019 Q1 21,552 21,405 Mil. Ch. 2009/2010 NZD, SA Quarterly
Real Net Exports 2019 Q1 -2,926 -3,286 Mil. Ch. 2009/2010 NZD, SA Quarterly
Current Account Balance 2018 Q4 -2,471 -2,494 Mil. NZD, SA Quarterly

Release Information

The Balance of Payments current account summarises New Zealand's international trade in goods and services, and investment income and transfers with the rest of the world. A deficit in the current account shows that expenses were greater than earnings for a given period. A deficit must be balanced by a net inflow of investment from the rest of the world.

The balance of payments is made up of:

  • Current account - records transactions in goods, services, income and current transfers.
  • Capital account - covers all transactions that involve the receipt or payment of capital transfers and the acquisition or disposal of non-produced, non-financial assets.
  • Financial account - royalties and government services involving a country’s claims on (assets), and liabilities to, the rest of the world. Both sides can have net increases (positive flows).
  • Direct investment - The direct investment threshold applied is 10 percent or more of the equity ownership in an enterprise at the individual investor level for both direct investment in New Zealand and New Zealand direct investment overseas.
  • Portfolio investment -  Portfolio investment comprises transactions in debt securities (bonds and notes, and money market instruments) and equities that are not classified as either direct investment or reserves. 
  • Other investment - The main sources used to collect data on other investment are the QIIS and the Quarterly Managed Funds Survey. The QIIS collects data on both assets and liabilities, while the Managed Funds Survey collects only assets data. The stock and flow of other investment assets and liabilities data are available by sector. 
  • Reserve assets -  Reserve assets comprise the financial claims on non-residents that are available to the RBNZ and the New Zealand Treasury. The principal holder of New Zealand’s reserves is the RBNZ. The data, which relate to transactions in reserve assets as opposed to changes in holdings, are obtained from RBNZ records.

Essential principles guiding the compilation of New Zealand's balance of payments statistics are:

  1. balance of payments statistics include transactions between residents of New Zealand and residents of other countries.
  2. transactions are recorded at the time ownership changes, or, in the case of services, when the service is performed.
  3. transactions are recorded at their market value. Foreign currency transactions are converted to their New Zealand dollar equivalent.
BPM6 is the International Monetary Fund’s Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). It is the current international standard adopted by New Zealand in the compilation of balance of payments and international investment statistics.

Data is subject to revision.