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5302.0 - Balance of Payments and International Investment Position, Australia, Sep 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2011   
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SEPTEMBER KEY FIGURES

Jun Qtr 2011
Sep Qtr 2011
Jun Qtr 2011 to Sep Qtr 2011
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-6 929
-6 061
13
Seasonally adjusted
-6 660
-5 637
15
BALANCE ON GOODS AND SERVICES
Trend estimates
6 108
6 419
5
Seasonally adjusted
6 218
6 801
9
NET PRIMARY INCOME
Trend estimates
-12 948
-12 410
4
Seasonally adjusted
-12 784
-12 364
3
LEVELS AT END OF PERIOD
International Investment Position
797 651
848 283
6
Net foreign equity
111 418
107 778
-3
Net foreign debt
686 233
740 504
8


Current Account, Main aggregates - Trend estimates at current prices (a)
Graph: Current Account, Main aggregates—Trend estimates at current prices (a)

International Investment
Graph: International Investment




SEPTEMBER KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $1,023m (15%) to $5,637m in the September quarter 2011. The surplus on the balance of goods and services rose $583m (9%) to $6,801m. The primary income deficit fell $420m (3%) to $12,364m.
  • In seasonally adjusted chain volume terms, the deficit on goods and services rose $1,930m (17%) from $11,340m in the June quarter 2011 to $13,270m in the September quarter 2011. This is expected to detract 0.6 percentage points from growth in the September quarter 2011 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $848.3b at 30 September 2011, an increase of $50.6b on 30 June 2011. Australia's net foreign debt liability increased $54.3b to a liability position of $740.5b. Australia's net foreign equity liability decreased $3.6b to a liability position of $107.8b.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2011 6 March 2012
March 2012 5 June 2012
June 2012 4 September 2012



REVISIONS

In original terms, data have been revised back to September quarter 1981. See Revisions for details.

Revisions have been made to incorporate the latest data relating to international merchandise trade. The 'capital goods n.e.s.' component of the goods debits series has been revised from July 2011 onwards since the release of the September 2011 issue of the International Trade in Goods and Services (cat. no. 5368.0).

The revised goods debits data aligns with the data to be published in the September quarter 2011 Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 7 December 2011.


CHANGES IN THIS AND FORTHCOMING ISSUES

Changes in this issue:
  • Seasonally adjusted and trend estimates
  • Chain volume estimates, implicit price deflators and terms of trade indexes
  • Selected international accounts ratios - table 35.

Changes in forthcoming issues:
  • Changes in time series spreadsheets table 83.

See Changes in this and forthcoming issues for details.


COMMODITY VALUE ADJUSTMENTS

Iron ore and coal
  • for this issue, no value adjustments have been applied to the 'metal ores and minerals' or 'coal, coke and briquettes' components. All previous adjustments applied to these components have been removed.

Capital expenditure
  • the balance of payments goods debits component 'capital goods n.e.s.' includes an estimate of expenditure on capital goods that have changed ownership but have not yet crossed the Customs frontier.


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 Val Tot on Canberra (02) 6252 5541 for international investment estimates.


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