Australian Bureau of Statistics
1360.0 - Measuring Australia's Economy, 2003
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/02/2003
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RELATIONSHIP BETWEEN THE BALANCE OF PAYMENTS AND INTERNATIONAL INVESTMENT POSITION STATEMENTS
Source: Balance of Payments and International Investment Position, Australia, Concepts, Sources and Methods (5331.0)
Australia's balance of payments provides a statistical statement that systematically summarises the economic transactions between residents of Australia and residents of other countries.
Transactions cover the provision (changes in ownership) of goods, services, income, and financial claims on, and liabilities to, the rest of the world. Most transactions are exchanges where tangible resources are provided in exchange for financial claims. For example, wheat is exchanged for foreign currency. The system reflects the double entry of these offsetting transactions. However, not all transactions are exchanges, so the system also includes offset entries which are classified as transfers, such as gifts. Transfer entries offset the provision of real and financial resources when nothing is provided in exchange.
Australia's international investment position provides statistics showing the stock of foreign financial assets and liabilities of Australian residents. Changes in the balance sheet positions can occur as a result of transactions as recorded in the financial account of the balance of payments, and non-transaction changes such as price changes and exchange rate variations.
This page last updated 22 August 2007
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