New Zealand posted a current account deficit of NZ$9.46 billion in the fourth quarter of 2022, Statistics New Zealand said on Wednesday.
That missed expectations for a shortfall of NZ$7.64 billion following the downwardly revised NZ$11.40 billion deficit in the third quarter.
New Zealand's seasonally adjusted current account balance was an NZ$8.5 billion deficit in the fourth quarter, NA$1.4 billion wider than the third quarter deficit.
The widening of the seasonally adjusted current account deficit was mainly the result of the: NZ$1.3 billion widening of the goods deficit; NZ$429 million narrowing of the services deficit; NZ$556 million widening of the primary income deficit; and offset of the NZ$65 million change in the secondary income balance, to a surplus.
For all of 2022, the current account deficit was NZ$33.79 billion after showing a NZ$21.1 billion shortfall in 2021.
