Analysts at ANZ suggest that as it typically does in Q1, the New Zealand’s unadjusted current account balance flipped from deficit to surplus (to +$0.2bn from -$2.8bn in Q4). Key Quotes “This was a slightly narrower surplus than we expected (by $0.1bn), contributing to a slightly wider annual deficit than we had pencilled in, at 2.8% of GDP ($7.9bn). Despite the small surprise in today’s release, the deficit remains well below its historical average of 3.6% of GDP.” “In seasonally adjusted terms, the current account deficit widened by $1.0bn to $3.0bn. As expected, this was driven entirely by the goods balance, which slipped $1.2bn to a deficit of $0.5bn, as ongoing solid broad-based import demand combined with higher oil prices and volumes, while exports softened on lower dairy prices and meat volumes.” “The external balance sheet continues to look in reasonable shape (by New Zealand’s standards at least).” “The net international liability position fell by $0.8bn to $156.1bn, driven largely by valuation changes and net exchange rate changes. However, as a share of GDP it lifted 0.1%pts to 54.5%, suggesting the possibility of a soft nominal GDP print tomorrow.” “We expect to see a 0.4% q/q expansion in production GDP, with net exports dragging on real expenditure GDP.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: 1.3150 remains a key barrier to further downside FX Street 5 years Analysts at ANZ suggest that as it typically does in Q1, the New Zealand's unadjusted current account balance flipped from deficit to surplus (to +$0.2bn from -$2.8bn in Q4). Key Quotes "This was a slightly narrower surplus than we expected (by $0.1bn), contributing to a slightly wider annual deficit than we had pencilled in, at 2.8% of GDP ($7.9bn). Despite the small surprise in today's release, the deficit remains well below its historical average of 3.6% of GDP." "In seasonally adjusted terms, the current account deficit widened by $1.0bn to $3.0bn. As expected, this was driven entirely by the goods… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.