B.o.p. figures improve

Press, 13 September 1988, Page 24

B.o.p. figures improve

PA Wellington New Zealand’s overseas balance of payments continued to show an improving trend while still being in deficit, Government Statistician, Mr Steve Kuzmicich, announced yesterday when releasing the July, 1988, statistics. The $4 million slow improvement a month in the current account trend over recent months arises from a S6M improvement in the trend of the mer-

chandise trade balance and a S2M deterioration in the invisibles balance.

Unadjusted statistics show a surplus on merchandise trade of SI6OM and a deficit on invisibles of SSI4M. Mr Kuzmicich said this was the eighth successive month a surplus on merchandise trade had been recorded. The combined effect of the surplus on merchandise trade and the deficit on invisibles produces an over-all

current account deficit of $354M for July, 1988.

New Zealand’s current account balance for the year ended June, 1988, improved from a deficit of $2019M for the year ended July, 1988, to a deficit of 51927 M.

By comparison the deficit recorded for the year ended July, 1987, was $2547M. Mr Kuzmicich said the August balance of payments statistics would be released on October 4.