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5302.0 - Balance of Payments and International Investment Position, Australia, March 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2013   
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MARCH KEY FIGURES

Dec Qtr 2012
Mar Qtr 2013
Dec Qtr 2012 to Mar Qtr 2013
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-12 811
-11 241
12
Seasonally adjusted
-14 759
-8 510
42
BALANCE ON GOODS AND SERVICES
Trend estimates
-3 574
-2 061
42
Seasonally adjusted
-5 211
367
(a). .
NET PRIMARY INCOME
Trend estimates
-8 915
-8 857
1
Seasonally adjusted
-9 229
-8 548
7
LEVELS AT END OF PERIOD
International Investment Position
864 282
877 075
1
Net foreign equity
106 997
113 498
6
Net foreign debt
757 284
763 578
1

. . not applicable
(a) See paragraph 5 of the Explanatory Notes.

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

International Investment
Graph: International Investment




MARCH KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $6,249m (42%) to $8,510m in the March quarter 2013. There was a turnaround of $5,578m on the balance on goods and services, resulting in a surplus of $367m in the March quarter 2013. The primary income deficit fell $681m (7%) to $8,548m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services rose $3,657m (84%) from $4,371m in the December quarter 2012 to $8,028m in the March quarter 2013. This is expected to contribute 1.0 percentage points to growth in the March quarter 2013 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $877.1b at 31 March 2013, an increase of $12.8b on 31 December 2012. Australia's net foreign equity liability increased $6.5b to a liability position of $113.5b. Australia's net foreign debt liability increased $6.3b to a liability position of $763.6b.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2013 3 September 2013
September 2013 3 December 2013
December 2013 4 March 2014
March 2014 3 June 2014



REVISIONS

The following goods and services debits components have been revised since the release of the March 2013 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0):
  • capital goods n.e.s. component of goods debits series, revised in the June and September quarters 2012 and March quarter 2013
  • architectural, engineering and other technical services component of services debits, revised back to June quarter 2012
  • legal, accounting, management consulting, public relations and other professional services component of services debits, revised in March quarter 2013.

Data in this issue aligns with the data in the March quarter 2013 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 5 June 2013.


CHANGES IN FORTHCOMING ISSUES

See Changes in forthcoming issues for details.


VALUE ADJUSTMENTS

See Value adjustments for details.


RELATED RELEASES

See Related releases for details.


INQUIRIES

For further information contact Val Tot 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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