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5302.0 - Balance of Payments and International Investment Position, Australia, June 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2012   
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JUNE KEY FIGURES

Mar Qtr 2012
Jun Qtr 2012
Mar Qtr 2012 to Jun Qtr 2012
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-11 422
-13 371
-17
Seasonally adjusted
-12 997
-11 801
9
BALANCE ON GOODS AND SERVICES
Trend estimates
-333
-2 707
-712
Seasonally adjusted
-2 013
-1 382
31
NET PRIMARY INCOME
Trend estimates
-10 842
-10 426
4
Seasonally adjusted
-10 719
-10 199
5
LEVELS AT END OF PERIOD
International Investment Position
884 672
879 520
-1
Net foreign equity
143 396
123 336
-14
Net foreign debt
741 276
756 183
2


Current Account Balance (a), Main aggregates
Graph: Current Account Balance (a), Main aggregates

International Investment
Graph: International Investment




JUNE KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $1,196m (9%) to $11,801m in the June quarter 2012. The deficit on the balance of goods and services fell $631m (31%) to $1,382m.The primary income deficit fell $520m (5%) to $10,199m.
  • In seasonally adjusted chain volume terms, the deficit on goods and services fell $871m (6%) from $14,506m in the March quarter 2012 to $13,635m in the June quarter 2012. This is expected to contribute 0.3 percentage points to growth in the June quarter 2012 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $879.5b at 30 June 2012, a decrease of $5.2b on 31 March 2012. Australia's net foreign debt liability increased $14.9b to a liability position of $756.2b. Australia's net foreign equity liability decreased $20.1b to a liability position of $123.3b.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2012 4 December 2012
December 2012 5 March 2013
March 2013 4 June 2013
June 2013 3 September 2013



REVISIONS

In original terms, data have been revised back to September quarter 2010.

Goods and service debits have been revised since the release of the June 2012 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0). The revised goods and services debits data aligns with the data in the June quarter 2012 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 5 September 2012. The following have been revised:
  • capital goods n.e.s component of goods debits series, revised back to March quarter 2012
  • legal, accounting, management consulting, public relations and other professional services component of services debits, revised back to December quarter 2011
  • architectural, engineering and other technical services component of services debits, revised back to June quarter 2012
  • waste treatment and de-pollution, agricultural and mining services component of services debits, revised back to December quarter 2011.

See Revisions for details.


CHANGES IN THIS ISSUE AND FORTHCOMING ISSUES

Changes in this issue:

As part of an ongoing improvement program, the method for seasonally adjusting the current price value of the goods credits component 'coal, coke and briquettes' has been refined in this issue.

Changes in forthcoming issues:

Changes to be incorporated in September quarter 2012 issue include:
  • annual seasonal re-analysis
  • new base year and re-referencing of chain volume estimates and implicit price deflators.

See Changes in this and forthcoming issues for details


COMMODITY VALUE ADJUSTMENTS

See Commodity value adjustments for details


RELATED RELEASES

For related recent and upcoming releases see Related releases for details.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for balance of payments estimates, and Charles Kauye on Canberra (02) 6252 5541 for international investment estimates.


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