New Zealand’s current account deficit deepened in the fourth quarter of 2025, reaching NZ$16.35 billion, up from a revised NZ$15.37 billion in the third quarter of 2025. The latest figures, updated on 17 March 2026, highlight a further deterioration in the country’s external balance heading into year-end.
On a year-over-year basis, the fourth-quarter reading is assessed against the same period a year earlier, in line with the standard comparison approach where both the latest “actual” and the prior “previous” metrics are benchmarked to their respective months a year before. While detailed drivers were not provided, the larger deficit underscores ongoing pressure on New Zealand’s external accounts and will likely remain a key focus for policymakers and investors monitoring the sustainability of the country’s external position.
The continued widening from Q3 to Q4 2025 suggests that any improvement in the current account remains elusive for now, and market participants may watch upcoming data for signs of stabilization or further slippage in New Zealand’s international trade and income flows.
