N.Z. FEBRUARY CURRENT ACCOUNT DEFICIT NARROWS

  New Zealand's current account
  deficit narrowed to 78 mln dlrs in February from 93 mln in
  January and 233 mln in February 1986, in a smoothed seasonally
  adjusted measurement, the statistics department said.
      This is the first time current account figures have
  appeared in a seasonally adjusted form.
      Non-seasonally adjusted but smoothed figures show a deficit
  of 112 mln dlrs against 144 mln in January and 281 mln in
  February 1986.
      Totally unadjusted figures show a deficit of 47 mln dlrs
  against 168 mln in January and 227 mln in February 1986.
      The smoothed seasonally adjusted series shows a surplus on
  merchandise trade of 174 mln dlrs after 161 mln in January and
  33 mln in February 1986.
      Smoothed but non-seasonally adjusted figures show a
  merchandise trade surplus of 114 mln dlrs against 81 mln in
  January and a 47 mln dlr deficit in February 1986.
      Unadjusted merchandise figures show a surplus of 168 mln
  against 36 mln in January and 22 mln in February 1986.
      The deficit on invisibles was 241 mln dlrs against 242 mln
  in January and 250 mln in February 1986.
      The smoothed but not seasonally adjusted deficit on
  invisibles was 226 mln dlrs against 225 mln in January and 234
  mln in February 1986.
      The unadjusted deficit on invisibles was 215 mln dlrs
  against 204 mln in January and 249 mln in February 1986.
      Seasonally adjusted export and import figures were not
  available but the department said they will be included in
  future current account data.
      Smoothed but non-seasonally adjusted exports were 924 mln
  dlrs, unchanged from January, against 843 mln in February 1986.
      Smoothed but non-seasonally adjusted imports were 810 mln
  dlrs against 843 mln in January and 890 mln in February 1986.
  

