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Balance of Payments and International Investment Position: March 2015 quarter
Embargoed until 10:45am  –  17 June 2015
Revisions

Earthquake-related figures

New Zealand insurers have provided updated estimates of their Canterbury reinsurance claims on non-resident reinsurers. The updated data affects capital account inflows, investment abroad transactions, and IIP assets. We used the updated data to revise statistics back to the September 2010 quarter. There were no revisions made in the March 2015 quarter.

Revisions for Balance of Payments and International Investment Position: December 2014 quarter

These tables present a summary of revisions to the December 2014 quarter. Revisions reflect new or improved information becoming available.

Current and capital accounts

Current and capital accounts December 2014 quarter revisions

Component
Previously published Dec 2014 quarter Revised Dec 2014 quarter Size of
revision
NZ$(million)
Current account balance -3,194 -3,170 24
Goods balance -949 -959 -10
Goods exports (fob) 12,535 12,532 -3 
Goods imports (fob) 13,483 13,491 8
Services balance

573

544 -29
Services exports 4,752 4,705 -47
Services imports 4,179 4,161 -18
Primary income balance -2,762 -2,702 60
Primary income inflow 1,703 1,692 -11
Primary income outflow 4,465 4,394

-71

Secondary income balance -55 -54 1
Secondary income inflow 368 370 2
Secondary income outflow 424 424 0
Capital account balance 27 27

0

Capital account inflow 31 31 0
Capital account outflow 4 4 0

Financial account

Financial account December 2014 quarter revisions
Component Previously published Dec 2014 Revised Dec 2014 quarter Size of
revision
NZ$(million)
Financial account balance  3,762 4,238 476
NZ investment abroad 423 101 -322
Direct investment assets 446 458 12
Portfolio investment assets 3,440 3,440 0
Financial derivative assets -912 -912 0
Other investment assets 448 115 -333
Reserve assets -2,999 -2,999 0
Foreign investment in NZ 4,185 4,340 155
Direct investment liabilities 3,844 4,366 522
Portfolio investment liabilities 2,158 1,615 -543
Financial derivative liabilities -595 -595 0
Other investment liabilities -1,221 -1,046 175

Net errors and omissions

Net errors and omissions December 2014 quarter revisions
Component Previously published Dec 2014 quarter Revised Dec 2014 quarter Size of
revision
NZ$(million)
Net errors and omissions -595 -1095 -500

International investment position

International investment position (IIP) December 2014 quarter revisions
Component Previously published Dec 2014 quarter Revised Dec 2014 quarter Size of
revision
NZ$(million)
Net IIP -153,920 -154,592 -672
NZ's international assets 198,926 197,976 -950
Direct investment 34,909 34,920 11
Portfolio investment 99,695 99,013 -682
Financial derivatives 15,916 15,917 1
Other investment 28,148 27,868 -280
Reserve assets 20,258 20,258 0
NZ's international liabilities

352,846

352,568 -278
Direct investment 109,137 109,704 567
Portfolio investment 143,062 142,559 -503
Financial derivatives 18,555 18,557 2
Other investment 82,092 81,748 -344
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