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MARCH KEY FIGURES

			Dec Qtr 2016	Mar Qtr 2017	Dec Qtr 2016 to Mar Qtr 2017
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-5 825	-1 259	78
	Seasonally adjusted		-3 511	-3 108	11
BALANCE ON GOODS AND SERVICES
	Trend estimates		3 994	9 950	149
	Seasonally adjusted		6 113	9 242	51
NET PRIMARY INCOME
	Trend estimates		-9 419	-10 803	-15
	Seasonally adjusted		-9 228	-11 940	-29
LEVELS AT END OF PERIOD
	International Investment Position		1 028 203	1 025 520	-
		Net foreign equity	-327	10 557	(a). .
		Net foreign debt	1 028 529	1 014 963	-1
. . not applicable
- nil or rounded to zero (including null cells)
(a) See paragraph 17 of the Explanatory Notes.

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, fell $403m (11%) to $3,108m in the March quarter 2017. There was an increase of $3,129m (51%) on the balance on goods and services, resulting in a surplus of $9,242m in the March quarter 2017. The primary income deficit rose $2,712m (29%) to $11,940m.
• In seasonally adjusted chain volume terms, the surplus on goods and services fell $2,966m (85%) from $3,509m in the December quarter 2016 to $543m in the March quarter 2017. This is expected to detract 0.7 percentage points from growth in the March quarter 2017 volume measure of GDP.

• Australia's net IIP liability position was $1,025.5b at 31 March 2017, a decrease of $2.7b on the revised 31 December 2016 position of $1,028.2b. Australia's net foreign debt liability decreased $13.6b (1%) to $1,015.0b. Australia's net foreign equity had a turnaround of $10.9b from a net asset position of $0.3b at 31 December 2016 to a net liability position of $10.6b at 31 March 2017.