Amadeusz Juskowiak

Nz quarterly current account deficit narrows

New Zealands current account deficit for the quarter ended December 31 1986 narrowed to 567 mln dlrs from 738 mln revised down from 742 mln for the September quarter and from 733 mln a year earlier the statistics department said

The deficit for the year ended December narrowed to 275 billion dlrs from 291 billion dlrs revised down from 292 billion for the year ended September The deficit for calendar 1985 was 261 billion

The December quarter showed a 182 mln dlr surplus for merchandise trade unchanged from the September quarter surplus which was revised down from 271 mln dlrs The 1985 December quarter showed a 13 mln dlr deficit

Imports for the December 1986 quarter were 2655 billion against 2883 billion in the September quarter and 2454 a year earlier Exports were 2837 billion against 3065 billion and 2440 billion

Imports for the year ended December 1986 were 1074 billion dlrs compared with 1114 billion in 1985 Exports were 1120 billion against 1136 billion

Government borrowing stood at 926 billion dlrs for calendar 1986 against 315 billion for 1985 Borrowing in the December quarter rose to 392 billion from 179 in the September quarter and 611 mln a year earlier

Repayments stood at 55 billion for the year up from 31 billion in 1985 Repayments in the December quarter accounted for 14 billion dlrs against 260 mln in the September quarter and 334 mln a year earlier

Official reserves totalled 7205 billion dlrs at end December compared with 4723 billion at end September and 3255 billion one year earlier