5302.0 - Balance of Payments and International Investment Position, Australia, Sep 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/12/2014   
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MEDIA RELEASE
2 December 2014
Embargo: 11.30 am (Canberra time)
167/2014
Decrease in current account deficit

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit decreased $1,423m (10 per cent) to $12,525m in the September quarter 2014. Exports of goods and services fell $990m (1 per cent) and imports of goods and services fell $1,176m (1 per cent). The primary income deficit fell $1,239m (14 per cent).

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $3,021m (193 per cent) to $4,586m in the September quarter 2014. This is expected to contribute 0.8 percentage points to growth in the September quarter 2014 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $875.3b at 30 September 2014, an increase of $9.4b (1 per cent) on the liability position at 30 June 2014. Australia's net foreign debt liability increased $18.7b (2 per cent) to a net liability position of $882.9b. Australia's net foreign equity had a turnaround of $9.3b, resulting in a net asset position of $7.6b at 30 September 2014.

Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0).

Media notes:
  • September quarter 2014, Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) will be released on 3 December 2014.
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or ABS) as the source.
  • Media requests and interviews - contact the ABS Communications Section on 1300 175 070