New Zealand posted a seasonally adjusted current account deficit of NZ$2.8 billion in the first quarter of 2012, Statistics NZ reported Wednesday.
The deficit was $0.6 billion higher than in the December 2011 quarter.
Statistics NZ said the balance on goods and services moved into a deficit for the first time since the December 2008 quarter, leading to the increase in the current account deficit rise.
For the year to the March 2012 quarter, the current account deficit rose to 4.8 percent of GDP, compared to 3.7 percent for the year to the March 2011 quarter.
by RTT Staff Writer
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