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16/12/2009 NOTE: Tables 35 and 85 in the Time Series Spreadsheets have been updated with the latest current price original GDP measure from the September 2009 quarterly national accounts.
SEPTEMBER KEY POINTS
BALANCE OF PAYMENTS
INTERNATIONAL INVESTMENT POSITION (IIP)
REVISIONS AND CHANGES TO THIS ISSUE
This issue introduces estimates compiled according to revised international standards, the Balance of Payments and International Investment Position manual, sixth edition (BPM6). This affects a number of key aggregrates and related series. Incorporation of the latest survey and administrative data has resulted in revisions. For further details refer to:
A new base year, 2007-08 has been introduced into the chain volume estimates. This has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2007-08. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the levels of, but not movements in, chain volume estimates.
Due to the changes in presentation introduced with this issue, Table 36, Summary of revisions, has not been populated. It will be provided from the next issue.
Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, please see paragraph 14 of the explanatory notes.
SELECTED INTERNATIONAL ACCOUNTS RATIOS - TABLE 35
Ratios of current account and international investment measures to both annual and annualised (i.e. four quarter moving average ending on the reference quarter) GDP are presented in Table 35. The updated annual GDP benchmarks released concurrently with this issue in the Australian System of National Accounts, 2008-09 (cat. no. 5204.0) have been used in the annual ratios presented in this issue. These benchmarks will be incorporated into the quarterly national accounts with the September quarter 2009 issue of Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) to be released on 16 December 2009. The introduction of these benchmarks will change the level of the quarterly GDP used in the annualised ratios. Therefore, annualised ratios using the currently available quarterly GDP would be inconsistent with the annual ratios and have been suppressed in this issue. Table 35 in the Time Series data released in conjunction with this publication will be updated with the release of the quarterly national accounts.
For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for balance of payments estimates, and Val Tot on Canberra (02) 6252 5541 for international investment estimates.
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