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New Zealand Has NZ$1.6 Billion Current Account Shortfall

New Zealand had a seasonally adjusted current account deficit of NZ$1.6 billion in the first quarter of 2020, Statistics New Zealand said on Wednesday.

That missed expectations for a surplus of NZ$1.482 billion but was an improvement over the NZ$2.66 billion shortfall in the three months prior.

The seasonally adjusted goods deficit narrowed to NZ$213 million, while the services surplus narrowed to NZ$983 million.

The primary income deficit widened to NZ$2.2 billion and the financial account recorded a net outflow of NZ$7.7 billion.

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