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1. New Zealand’s current account deficit widened by NZ$857m to NZ$4.6b, or ~4.1% of GDP, in Q4 2025.
2. New Zealand’s net services exports recorded a small surplus in Q4 2025. This is the just the third surplus since the pandemic hit in Q1 2020.
The net travel services exports surplus of 2.4% of GDP remained 0.5% of GDP below the pre-pandemic level.
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