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Budget 2017 Home Page Budget Economic and Fiscal Update 2017

Table 7 - Balance of Payments - Current Account

$ millions
Year ended June
2016
Actual
2017
Forecast
2018
Forecast
2019
Forecast
2020
Forecast
2021
Forecast
Exports Goods 49,268 48,710 51,088 53,006 55,202 58,754
annual % change 1.3 -1.1 4.9 3.8 4.1 6.4
Imports Goods 51,551 51,701 54,989 57,987 61,073 64,700
annual % change 2.9 0.3 6.4 5.5 5.3 5.9
Balance on Goods -2,283 -2,991 -3,901 -4,982 -5,871 -5,946
% of nominal GDP -0.9 -1.1 -1.4 -1.7 -1.9 -1.8
Exports Services 21,512 21,887 23,536 24,795 25,839 26,737
annual % change 12.8 1.7 7.5 5.4 4.2 3.5
Imports Services 17,175 17,369 18,410 19,265 20,128 21,066
annual % change 5.0 1.1 6.0 4.6 4.5 4.7
Balance on services 4,337 4,518 5,126 5,530 5,711 5,671
% of nominal GDP 1.7 1.7 1.8 1.9 1.8 1.7
Balance on goods & services 2,054 1,527 1,224 548 -159 -275
% of nominal GDP 0.8 0.6 0.4 0.2 -0.1 -0.1
Primary and secondary                                                
income balance          -9,370 -8,953 -9,702 -10,276 -11,401 -12,458
% of nominal GDP -3.7 -3.3 -3.4 -3.5 -3.7 -3.8
Current account balance -7,320 -7,421 -8,478 -9,727 -11,560 -12,733
% of nominal GDP -2.9 -2.8 -3.0 -3.3 -3.7 -3.9

Source: Statistics New Zealand, the Treasury

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