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WorldPosted at: Mar 4 2024 10:18AM


New Zealand tourism gain narrows services deficit

Wellington, Mar 4 (UNI) The recovery of New Zealand tourism contributed to the narrowing of New Zealand's services trade deficit, according to the statistics department Stats NZ on Monday.
The services trade deficit narrowed to 696 million NZ dollars (425 million U.S. dollars) in the December 2023 quarter, compared with 2.1 billion NZ dollars (1.28 billion dollars) in the December 2022 quarter, the Stats NZ said.
The main contributor to the narrowing of the deficit was an increase in travel exports, which increased 44 percent compared with the December 2022 quarter to 3.7 billion NZ dollars (2.26 billion dollars), it said, adding travel exports represent the amount spent by visitors in New Zealand during the period.
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