New Zealand's seasonally adjusted current account balance shows a deficit of $3.1 billion for the December 2009 quarter .This comes after the first surplus in 20 years, recorded in the previous quarter.A current account deficit means that New Zealand's ov
New Zealand's seasonally adjusted current account balance shows a deficit of $3.1 billion for the December 2009 quarter .
This comes after the first surplus in 20 years, recorded in the previous quarter.
A current account deficit means that New Zealand's overseas expenditure is greater than its earnings abroad.
The change from a surplus to a deficit was driven by an increase in income earned by foreign investors from their New Zealand investments, Statistics New Zealand said today.
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