N.Z. APRIL CURRENT ACCOUNT DEFICIT NARROWS
New Zealand's current account deficit
narrowed to 76 mln N.Z. Dlrs in April from a revised 89 mln
dlrs in March, and 224 mln dlrs in April 1986, in a smoothed
seasonally-adjusted measurement, the Statistics Department
said.
    The March figure was revised from 69 mln dlrs.
    The department said in a statement seasonally adjusted, but
non-smoothed figures, showed a deficit of 99 mln dlrs against
76 mln dlrs in March and 230 mln dlrs in April 1986.
    Totally unadjusted figures show a deficit of 83 mln dlrs
against 164 mln dlrs in March, revised from 178 mln dlrs, and
compared with 262 mln in April 1986.
    The smoothed seasonally adjusted series shows a surplus on
merchandise trade of 145 mln dlrs against 135 mln dlrs in March
and 30 mln dlrs in April 1986.
    Seasonally adjusted but non-smoothed figures show a
merchandise trade surplus of 132 mln dlrs against a 148 mln dlr
surplus in March and a 14 mln dlr surplus in April 1986.
    Unadjusted merchandise figures show a surplus of 151 mln
dlrs against a 5.0 mln dlr (revised from 10 mln dlr) deficit in
March and a 31 mln dlr deficit in March 1986.
    The smoothed seasonally adjusted deficit on invisibles was
234 mln N.Z. Dlrs against 236 mln dlrs in March and 255 in
April 1986.
    The seasonally adjusted but non-smoothed deficit on
invisibles was 240 mln dlrs against 229 mln dlrs in March and
245 mln dlrs in April 1986. The unadjusted deficit on
invisibles was 234 mln dlrs against 158 mln dlrs, revised from
168 mln dlrs, in March and 231 mln dlrs in April 1986.
    Seasonally adjusted export and import figures were not
available.
    The department said these figures show a continuing
improvement in the current account deficit, caused mainly by an
improvement in the balance on merchandise trade which has now
being in surplus since november 1985.
 Reuter
