On an annual basis, the current account deficit for the September 2020 year narrowed to $2.6b, compared with a deficit of $11.7b in the September 2019 year. "The rise in goods imports was mainly driven by an increase in car imports," international statistics senior manager Peter Dolan said. The lifting services balance was helped higher by both higher services exports and lower services imports." Travel and transportation services combined contributed 52 per cent of total services exports and just over a quarter of services imports in the September 2020 quarter. The level of liabilities fell by $5.7b, almost all due to financial account transactions reducing liabilities, with little overall impact from valuation and other changes.

Source: New Zealand Herald December 15, 2020 23:37 UTC