The corporate sector's overseas debt is on the rise again, increasing by NZ$2.3 billion in the three months to June to reach NZ$219.1 billion.
Reserve Bank data shows the increase at June 30 from NZ$216.8 billion at March 31. As a percentage of Gross Domestic Product (GDP), however, corporate overseas debt held steady at 115.7%.
The June quarter rise in corporate sector overseas debt comes after four straight quarterly falls from NZ$233.4 billion, or 126.8%, at March 31, 2009.
Government sector debt, meanwhile, rose just under NZ$3 billion in the three months to June 30 to NZ$27.35 billion from NZ$24.39 billion. As a percentage of GDP it rose to 14.5% from 13%.
Total overseas debt stood at NZ$246.46 billion at June 30, up nearly NZ$5.3 billion in three months, from NZ$241.2 billion at March 31. It rose to 130% of GDP from 128.8%. The total figure is, however, down from the recent peak of NZ$253.8 billion at March 31 last year, the equivalent of 137.9% of GDP.
Overseas debt
Select chart tabs
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.