New Zealand has also had persistent current-account deficits since the early 1970s, peaking at −7.8% of GDP in 2006 but falling to −2.6% of GDP in FY 2014. The CIA World Fact Book estimates New Zealand's 2017 public debt (that owed by the government) at 31.7% of GDP. Between 1984 and 2006, net external foreign debt increased 11-fold, to NZ$182 billion. gross core crown debt was NZ$84,524 million or 29.5% of GDP and net core crown debt was NZ$62,114 million or 21.7% of GDP. thumb|left|New Zealand Government Gross Debt as percent of GDP 1860 to 2000 thumb|left|GDP per capita development in Australia and New Zealand Despite New Zealand's persistent current-account deficits, the balance on external goods and services has generally been positive. In FY 2014, export receipts exceeded imports by NZ$3.9 billion. There has been an investment income imbalance or net outflow for debt-servicing of external loans. In FY 2014, New Zealand's investment income from the rest of the world was NZ$7 billion, versus outgoings of NZ$16.3 billion, a deficit of NZ$9.3 billion. The proportion of the current-account deficit that is attributable to the investment income imbalance (a net outflow to the Australian-owned banking sector) grew from one third in 1997 to roughly 70% in 2008.
New Zealand has also had persistent current-account deficits since the early 1970s, peaking at −7.8% of GDP in 2006 but falling to −2.6% of GDP in FY 2014. The CIA World Fact Book estimates New Zealand's 2017 public debt (that owed by the government) at 31.7% of GDP. Between 1984 and 2006, net external foreign debt increased 11-fold, to NZ$182 billion. gross core crown debt was NZ$84,524 million or 29.5% of GDP and net core crown debt was NZ$62,114 million or 21.7% of GDP. thumb|left|New Zealand Government Gross Debt as percent of GDP 1860 to 2000 thumb|left|GDP per capita development in Australia and New Zealand Despite New Zealand's persistent current-account deficits, the balance on external goods and services has generally been positive. In FY 2014, export receipts exceeded imports by NZ$3.9 billion. There has been an investment income imbalance or net outflow for debt-servicing of external loans. In FY 2014, New Zealand's investment income from the rest of the world was NZ$7 billion, versus outgoings of NZ$16.3 billion, a deficit of NZ$9.3 billion. The proportion of the current-account deficit that is attributable to the investment income imbalance (a net outflow to the Australian-owned banking sector) grew from one thir.d in 1997 to roughly 70% in 2008