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 changes in this issue, latest survey, and administrative data has resulted in revisions to the Balance of Payments and International Investment Position series back to December quarter 1959. In original current price terms, these revisions have:
- increased the 2008-09 current account deficit by $4,516m
- increased the 2009-10 current account deficit by $6,369m
- increased the 2010-11 current account deficit by $7,320m
- increased the 2011-12 current account deficit by $7,288m
- increased the 2012-13 current account deficit by $7,246m
- increased the current account deficit for September quarter 2012 by $1,407m
- increased the current account deficit for December quarter 2012 by $2,189m
- increased the current account deficit for March quarter 2013 by $1,067m
- increased the current account deficit for June quarter 2013 by $2,584m
- decreased Australia's net IIP liability by $4,923m to a net liability position of $812,014m at 30 June 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, the annual seasonal re-analysis and the rederivation of seasonal factors under the concurrent seasonal adjustment methodology.
Chain volume estimates, implicit price deflators and terms of trade indexes have been revised as a result of the incorporation of revised estimates and seasonal factors and the introduction of a new reference year. These indexes have also been revised with the introduction of the price deflation method, which is applied from September 2012 quarter onwards, to compile chain volume estimates for goods.