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5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/03/2015   
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MEDIA RELEASE
3 March 2015
Embargo: 11.30 am (Canberra time)
30/2015

Decrease in current account deficit

Latest Australian Bureau of Statistics (ABS) figures show that in seasonally adjusted, current price terms, the current account deficit decreased $2,542m (21 per cent) to $9,588m in the December quarter 2014. Exports of goods and services rose $952m (1 per cent) and imports of goods and services fell $518m (1 per cent). The primary income deficit fell $1,067m (14 per cent).

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $2,814m (54 per cent) to $7,991m in the December quarter 2014. This is expected to contribute 0.7 percentage points to growth in the December quarter 2014 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $866.1b at 31 December 2014, a decrease of $7.8b (1 per cent) on the 30 September 2014 position of $873.9b. Australia's net foreign debt liability increased $38.0b (4 per cent) to a net liability position of $924.8b. Australia's net foreign equity increased $45.8b (356 per cent) to a net asset position of $58.7b at 31 December 2014.

Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) available for download from the ABS website – http://www.abs.gov.au.

Media notes:

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Commonwealth of Australia 2015

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