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NZ current account dips below $1 billion

FXStreet (Bali) - New Zealand Current Account (QoQ) registered at -$1.06, which is below expectations of $-0.95B for 2Q, with the New Zealand Current Account - GDP Ratio at -2.5% as expected.

Key findings

New Zealand's seasonally adjusted current account balance was a $2.0 billion deficit in the June 2014 quarter, up $1.4 billion from the March 2014 quarter's deficit.

Exports of goods fell $1.1 billion.

For the year ended June 2014, the current account deficit was $5.8 billion (2.5 percent of GDP); it was 2.7 percent of GDP for the year ended March 2014.

New Zealand's net international liability position was $149.7 billion (65.3 percent of GDP) at 30 June 2014 ($1.4 billion smaller than at 31 March 2014).

New Zealand's external debt position increased $2.0 billion, to $142.3 billion (62.1 percent of GDP) at 30 June 2014.

CORRECTION: New Zealand Current Account (QoQ) registered at -$1.06 above expectations ($-0.95B) in 2Q

New Zealand Current Account (QoQ) registered at -$1.06 above expectations ($-0.95B) in 2Q.
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