New Zealand’s seasonally adjusted current account deficit narrowed $372 million to $1.6 billion in the March 2020 quarter, Stats NZ said today. The smaller deficit was driven by our trade in goods with the goods deficit narrowing $613 million to $213 million. New Zealand’s services surplus narrowed by $83 million to $983 million during the quarter. “Travel restrictions began in early February to combat the spread of COVID-19, followed by a shutdown of New Zealand’s borders to all non-residents from 19 March,” international statistics senior manager Peter Dolan said. A $342 million fall in spending by international ... (full story)