5302.0 - Balance of Payments and International Investment Position, Australia, Mar 2009
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/06/2009
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MARCH KEY POINTS
BALANCE OF PAYMENTS
INTERNATIONAL INVESTMENT POSITION (IIP)
Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last three years and six quarters. Incorporation of the latest survey and administrative data has resulted in revisions to the current account back to September quarter 2005. In original terms, these revisions have increased the 2007-08 current account deficit by $335m, increased the deficit by $771m in the September quarter 2008, and decreased the deficit for the December quarter 2008 by $391m. In seasonally adjusted chain volume terms, revisions increased the volume deficit on goods and services by $275m for the September quarter 2008 and decreased the volume deficit by $234m for the December quarter 2008.
The financial account and international investment position have been revised back to September quarter 2005, resulting in a decrease of $52m in Australia's net IIP liability as at 31 December 2008 to $713,802m.
SEPTEMBER QUARTER 2009 RELEASE
As advised in the previous issue, the ABS will introduce revised international standards into the Balance of Payments, National Accounts and related series with the September quarter 2009 releases (see Information papers below). To enable series to be compiled and validated according to the new standards, the September quarter issue of this publication will be released one week later than normal.
An information paper detailing changes to international standards applying to the statistics in this publication is scheduled for release on 22 July 2009 (cat. no. 5302.0.55.002). A separate paper outlining changes applying to the presentation of statistics in International Trade in Goods and Services, Australia (cat. no. 5368.0) will be released on 17 June 2009 (cat. no. 5368.0.55.012). Both papers describe the background to the changes, the timing of the changes, and provide mock-ups of the proposed publications and related spreadsheets.
International Investment Position, Australia: Supplementary Statistics, 2008 (cat. no. 5352.0) was released on 15 May 2009 and supplements this publication by presenting statistics on Australia’s international investment position by countries. For both Australian investment abroad (assets) and foreign investment in Australia (liabilities), it includes details of investment stocks (level of investment), flows (transactions) and associated income by country.
GOODS DEBITS CONFIDENTIALITY
The confidentiality treatment impacting on the civil aircraft, capital goods n.e.s and other merchandise goods components is described in 'Changes to Import Confidentiality Restrictions'.
For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for balance of payments estimates, and Joe Whelan on Canberra (02) 6252 5541 for international investment estimates.
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