RSS New Zealand's Current Account Narrows Slightly to -6.4% of GDP in Q3

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 RSS New Zealand's Current Account Narrows Slightly to -6.4% of GDP in Q3

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New Zealand's current account deficit showed marginal improvement in the third quarter of 2024, standing at -6.4% of GDP, down from -6.7% in the second quarter. The data, released on December 17, 2024, signals a modest step towards addressing the country's long-standing trade imbalances.

The reduction, although slight, comes as New Zealand seeks to rebalance its economy amidst global financial uncertainties. Analysts note that the improvement was supported by a slightly stronger trade performance, aided by robust export sectors and moderated import growth.

As the country continues into the final quarter of the year, economic policymakers are likely to maintain focus on strategies that further narrow the deficit, eyeing a more sustainable current account position in 2025 through ongoing reforms and strategic engagements in international trade.

The material has been provided by InstaForex Company - www.instaforex.com
 
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