5302.0 - Balance of Payments and International Investment Position, Australia, Mar 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/06/2014   
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REVISIONS


SUMMARY OF REVISIONS SINCE THE LAST ISSUE OF THIS PUBLICATION

Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last three years and six quarters.

Incorporation of the latest survey and administrative data has resulted in revisions to the Balance of Payments and International Investment Position series back to September quarter 2012. In original current price terms, these revisions have:

  • increased the 2012-13 current account deficit by $2,429m
  • increased the current account deficit for September quarter 2012 by $402m
  • increased the current account deficit for December quarter 2012 by $699m
  • increased the current account deficit for March quarter 2013 by $752m
  • increased the current account deficit for June quarter 2013 by $576m
  • increased the current account deficit for September quarter 2013 by $1,091m
  • increased the current account deficit for December quarter 2013 by $2,353m
  • increased Australia's net IIP liability by $8,738m to a net liability position of $838,535m at 31 December 2013.

The full time series for the revisions are available in Table 36, Summary of revisions, from the 'Download' tab of this issue.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates and the incorporation of estimates for the latest quarter.

In seasonally adjusted terms, the revisions decreased the volume surplus on goods and services by $950m (9%) for the December quarter 2013.