New Zealand's current account deficit showed a slight improvement in the second quarter of 2024. According to the latest data updated on 17 September 2024, the deficit as a percentage of GDP has decreased to -6.70%, compared to -6.80% in the first quarter of the year.
This marginal change indicates some progress in addressing the country's economic imbalances. While the deficit remains substantial, the Q2 figures showcase a slow but positive trend that could signal the beginning of a more significant economic recovery.
Economists and policymakers will be closely monitoring this development to see if the momentum can be maintained in the subsequent quarters. As New Zealand navigates through its economic challenges, the slight decrease in the current account deficit is a step in the right direction.
