New Zealand posted a seasonally adjusted current account deficit of NZ$1.826 billion in the second quarter of 2016, Statistics New Zealand said on Wednesday.
The services surplus fell NZ$144 million to NZ$1.034 billion in Q2. The primary income deficit climbed NZ$135 million to NZ$2.040 billion in the latest quarter.
The balance of goods was a NZ$452 million deficit in Q2.
"More New Zealanders went overseas this quarter than in previous June quarters. And they spent the most ever recorded while traveling for work and holidays," international statistics manager Stuart Jones said.
This caused services imports to increase, while services exports decreased, resulting in the NZ$144 million fall in the services surplus; the biggest since March 2012.
The primary income deficit increased by NZ$135 million to NZ$2,040 million in the June 2016 quarter, due to an increase in income on foreign direct investment in New Zealand.
"Overall, the profits earned by foreign-owned New Zealand companies increased this quarter," Jones said. "The majority of this income was reinvested in the June quarter, rather being than paid out as dividends as it was last quarter."
For the year ended June 2016, the current account deficit was NZ$7.4 billion (2.9 percent of GDP; it was 3.1 percent of GDP for the March 2016 year).
New Zealand's net international liability position was NZ$163.3 billion (64.9 percent of GDP) at 30 June 2016, up from a revised NZ$159.0 billion (63.9 percent of GDP) at 31 March 2016.
New Zealand's external debt position was NZ$141.6 billion (56.3 percent of GDP) at 30 June 2016, up from NZ$141.0 billion (56.7 percent of GDP) at 31 March 2016.
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