5302.0 - Balance of Payments and International Investment Position, Australia, Jun 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2014   
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MEDIA RELEASE
2 September 2014
Embargo: 11.30 am (Canberra time)
126/2014
Increase in current account deficit

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit increased $5,938m (76%) to $13,742m in the June quarter 2014. Exports of goods and services fell $6,227m (7%) and imports of goods and services rose $1,030m (1%). The primary income deficit fell $1,275m (13%).

In seasonally adjusted, chain volume terms, the net goods and services surplus fell $3,624m (25%) to $10,657m in the June quarter 2014. This is expected to detract 0.9 percentage points from growth in the June quarter 2014 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $864.2b at 30 June 2014, an increase of $16.5b on 31 March 2014. Australia's net foreign debt liability increased $17.2b to a net liability position of $865.5b. Australia's net foreign equity position increased $0.7b to a net asset position of $1.2b.

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

Media notes:
  • June quarter 2014, Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) will be released on 3 September 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