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5204.0 - Australian System of National Accounts, 2007-08  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/10/2008   
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BALANCE SHEETS

The Net worth of an economy or a sector is defined as the difference between total assets and total liabilities. Australia's net worth at the end of June 2008 was estimated to be $6,390 billion in current prices, an increase of $426 billion (up 7.1%) since 30 June 2007. Most of this increase was due to holding gains for Non-dwelling construction (up $100 billion); Dwellings (up $76 billion); and Land (up $101 billion), offset by Holding losses in shares and other equity. Net transactions (both capital and financial) contributed $85 billion to the change, and Other volume changes contributed $38 billion.

Australia's Net international investment position as at 30 June 2008 was a Net foreign liability of $692 billion, up $66 billion (up 10%) on the position a year earlier. This result was due to Net transactions of $65 billion, with exchange rate and price changes almost offsetting each other.

Australia's real net worth rose 2.5% over the year ended 30 June 2008, from 1.7% growth for the previous year.

Percentage change in real net worth - as at 30 June
Graph: Percentage change in real net worth—as at 30 June


Balance sheets are produced in current prices for each institutional sector in the economy. Of these the household sector has the highest net worth, $5,056 billion at 30 June 2008, virtually the same as the previous year's position. Holding losses on shares and other equities offset positive contributions from transactions and holding gains of non-financial assets.

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