5302.0 - Balance of Payments and International Investment Position, Australia, Jun 2015 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2015   
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MEDIA RELEASE
1 September 2015
Embargoed: 11.30 am (Canberra time)
93/2015
Increase in current account deficit

Latest Australian Bureau of Statistics (ABS) figures show that in seasonally adjusted, current price terms, the current account deficit increased $5,532m (41 per cent) to $19,033m in the June quarter 2015. Exports of goods and services fell $4,816m (six per cent) and imports of goods and services rose $44m. The primary income deficit rose $715m (nine per cent).

The ABS has identified and corrected an error in primary income debits. In original terms, this has increased primary income debits by more than $1.0b in the September quarter 2013, March quarter 2014, September quarter 2014 and March quarter 2015.

In seasonally adjusted, chain volume terms, the net goods and services surplus fell $2,334m (28 per cent) to $5,987m in the June quarter 2015. This is expected to detract 0.6 percentage points from growth in the June quarter 2015 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $906.0b at 30 June 2015, a decrease of $4.7b (one per cent) on the 31 March 2015 position of $910.7b. Australia's net foreign debt liability decreased $8.0b (one per cent) to a net liability position of $976.1b. Australia's net foreign equity asset decreased $3.3b (five per cent) to a net asset position of $70.1b at 30 June 2015.

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: