Balance of payments and international investment position (M7)

The balance of payments records the value of the country's transactions with the rest of the world. It shows changes in financial claims on, and liabilities to, the rest of the world. The international investment position is a snapshot of the country's financial assets and liabilities.
16 March 2022 03:00 p.m.
Next release
02 June 2022 03:00 p.m.
Statistics New Zealand
Terms of trade Current account balance Net international investment position (IIP)
Date (Index) (q/q%) (y/y%) ($m) Ratio to GDP (%) ($m) Ratio to GDP (%)
Previous years:
Dec 2019 1500 2.7 7.1 -2,561 -2.9 -171,642 -53.6
Dec 2020 1476 1.4 -1.6 -2,837 -0.8 -180,316 -55.6
Mar 2021 1477 0.1 -0.9 -3,189 -2.5 -165,110 -50.4
Jun 2021 1525 3.2 -0.1 -1,536 -3.3 -154,866 -45.2
Sep 2021 1531 0.4 5.2 -8,248 -4.6 -164,163 -47.7
Dec 2021 1515 -1.0 2.6 -7,261 -5.8 -161,264 -46.1

The data: coverage, periodicity, and timeliness

Coverage characteristics

The balance of payments (BoP) statistics measures New Zealand's relationship with the rest of the world.

International trade in goods and services is summarised in the BoP current account, along with investment income and transfers with the rest of the world.

The international investment position (IIP) statistics shows the level of New Zealand's international assets and liabilities. This is affected by financial transactions and valuation changes.

The BoP and IIP statistics are closely related, with the BoP measuring transaction flows and the IIP measuring stock positions.




BoP and IIP statistics are released around three months after the end of the reference quarter.

Access by the public

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

View the Statistics Release Calendar.


Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

The data has been reproduced with the permission of Statistics New Zealand.

Provision of information about revisions and advance notice of major changes in methodology

Revisions are generally published when a table is next due to be updated and released. New or revised data is in bold font.


Dissemination of documentation on methodology and sources used in preparing statistics

Data is sourced from Statistics New Zealand.

Terms of trade

Terms of trade

The terms of trade index measures the changing volume of merchandise imports that can be funded by a fixed volume of New Zealand's merchandise exports.

It is calculated as the ratio of the total export price index to the total import price index.

The terms of trade has an index reference period of the June 2002 quarter (=1000).

Balance of payments (BOP)

Current account

The current account records the value of New Zealand's transactions with the rest of the world in goods, services, income, and transfers.

The credit side of this account shows the export of goods and services, income earned, and, under current transfers, the offsetting entries to resources received by residents without payment being required.

The debit side shows the import of goods and services, income paid, and, under current transfers, the offsetting entries to resources supplied to foreign residents without payment being required.

The current account balance is the sum of all current account credits less all current account debits. When the sum of debits is greater than the sum of credits we have a current account deficit.


Physical, produced items over which ownership rights can be established and whose ownership can be passed from one person to another through transactions.


Products other than tangible goods. Services result from production activity that changes the conditions of the consuming units, or makes the exchange of products or financial assets possible.


Earnings from providing capital (e.g. profits received from directly owning a company, dividends received from owning shares, interest received from lending money) or wages/salaries earned from providing labour (‘compensation of employees').

Current transfers

Offsetting entries to transactions where goods and services are supplied or received without there being an exchange of equal value in return (e.g. taxes or donations).

International investment position (IIP)

International investment position

The IIP measures the stock (or level) of New Zealand's financial assets and liabilities with the rest of world.


A financial claim held by an entity on another entity (e.g. a New Zealand bank lending money to an overseas company would hold an asset equal to the value of the loan).


A financial claim owing to an entity by another entity (e.g. New Zealand company borrowing from overseas would have a liability to overseas equal to the value of the loan).

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.