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5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/03/2007   
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DECEMBER KEY FIGURES

Sep Qtr 2006
Dec Qtr 2006
Sep Qtr 2006 to Dec Qtr 2006
$m
$m
% change

TREND ESTIMATES

Balance on current account
-13 483
-14 250
-6
Balance on goods and services
-2 618
-2 740
-5
Net income
-10 740
-11 372
-6

SEASONALLY ADJUSTED

Balance on current account
-12 603
-15 096
-20
Balance on goods and services
-1 465
-3 554
-143
Net income
-10 999
-11 406
-4

ORIGINAL

Balance on current account
-14 446
-14 716
-2
Balance on capital and financial
account
14 192
15 073
6

Levels at end of period

Net international investment position
572 542
606 932
6
Net equity
58 863
85 771
46
Net debt
513 679
521 161
1

Current Account, Main aggregates - Trend estimates at current prices(a)
Graph: Current Account Main aggregates Trend estimates at current prices (a)

International Investment
Graph: International Investment



DECEMBER KEY POINTS


BALANCE OF PAYMENTS

  • The current account deficit, seasonally adjusted, rose $2,493m (20%) to $15,096m. The deficit on the balance of goods and services rose $2,089m (143%) to $3,554m. The income deficit rose $407m (4%) to $11,406m.
  • In seasonally adjusted chain volume terms there was an increase of $2,993m (36%) in the deficit on goods and services. This could be expected to contribute -1.3 percentage points to growth in the December quarter 2006 volume measures of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP rose $34b to a net liability position of $607b. Net foreign debt was $521b, an increase of $7b. Net equity liabilities increased by $27b to $86b.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2007 5 June 2007
June 2007 30 August 2007
September 2007 30 November 2007



REVISIONS

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 current account back to September quarter 2005. In original terms, revisions have decreased the 2005-06 current account deficit by $217m. The financial account and international investment position have also been revised back to September quarter 2005 decreasing Australia's net IIP liability as at 30 September 2006 by $1,842m.



CHANGES IN THIS ISSUE

Rounding


In both the seasonally adjusted and trend data presented in this publication, aggregate sub-totals and totals may not exactly equal the sum of the components due to rounding. The previous process was to generate sub-totals and totals as the sum of the rounded components.


Seasonal Adjustment - Sugar


For the seasonally adjusted sugar credits series a seasonal break correction has been inserted from March quarter 2004. The seasonal break, which is due to increased storage capacity, has removed residual seasonality detected in the series over the past six years.



INQUIRIES

For further information contact Tom Jebbink on Canberra (02) 6252 5540 for balance of payments estimates, and Val Tot on Canberra (02) 6252 5541 for international investment estimates.


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