5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 28/02/2017   
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DECEMBER KEY FIGURES

Sep Qtr 2016
Dec Qtr 2016
Sep Qtr 2016 to Dec Qtr 2016
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-9 667
-5 437
44
Seasonally adjusted
-10 201
-3 853
62
BALANCE ON GOODS AND SERVICES
Trend estimates
-2 227
2 451
(a) . .
Seasonally adjusted
-3 538
4 667
(a) . .
NET PRIMARY INCOME
Trend estimates
-7 015
-7 454
-6
Seasonally adjusted
-6 238
-8 081
-30
LEVELS AT END OF PERIOD
International Investment Position
1 041 412
1 021 612
-2
Net foreign equity
-7 198
-1 443
80
Net foreign debt
1 048 610
1 023 055
-2

. . not applicable
(a) See paragraph 17 of the Explanatory Notes.

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

International Investment
Graph: International Investment




DECEMBER KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $6,348m (62%) to $3,853m in the December quarter 2016. There was a turnaround of $8,205m on the balance on goods and services, resulting in a surplus of $4,667m in the December quarter 2016. The primary income deficit rose $1,843m (30%) to $8,081m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services rose $700m (49%) from $1,424m in the September quarter 2016 to $2,124m in the December quarter 2016. This is expected to contribute 0.2 percentage points to growth in the December quarter 2016 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $1,021.6b at 31 December 2016, a decrease of $19.8b (2%) on the revised 30 September 2016 position of $1,041.4b. Australia's net foreign debt liability decreased $25.6b (2%) to a net liability position of $1,023.1b. Australia's net foreign equity asset decreased $5.8b (80%) to a net asset position of $1.4b at 31 December 2016.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2017 6 June 2017
June 2017 5 September 2017
September 2017 5 December 2017
December 2017 6 March 2018



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INQUIRIES

For further information contact Balance of Payments on Canberra (02) 6252 5540 for balance of payments estimates, and International Investment on Canberra (02) 6252 5541 for international investment estimates.