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DECEMBER KEY FIGURES

			Sep Qtr 2017	Dec Qtr 2017	Sep Qtr 2017 to Dec Qtr 2017
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-11 600	-13 672	-18
	Seasonally adjusted		-11 013	-14 024	-27
BALANCE ON GOODS AND SERVICES
	Trend estimates		1 941	-151	(a) . .
	Seasonally adjusted		1 977	-117	(a) . .
NET PRIMARY INCOME
	Trend estimates		-13 340	-13 306	-
	Seasonally adjusted		-12 767	-13 666	-7
LEVELS AT END OF PERIOD
	International Investment Position		958 350	986 194	3
		Net foreign equity	-32 034	-23 781	26
		Net foreign debt	990 384	1 009 975	2
- nil or rounded to zero (including null cells)
. . not applicable
(a) See paragraph 17 of the Explanatory Notes.

Current Account Balance (a) Main aggregates

International Investment

• The current account deficit, seasonally adjusted, rose $3,011m to $14,024m in the December quarter 2017. There was a turnaround of $2,094m on the balance on goods and services, resulting in a deficit of $117m in the December quarter 2017. The primary income deficit rose $899m to $13,666m.
• In seasonally adjusted chain volume terms, the deficit on goods and services rose $2,064m from $11,017m in the September quarter 2017 to $13,081m in the December quarter 2017. This is expected to detract 0.5 percentage points from growth in the December quarter 2017 volume measure of GDP.

• Australia's net IIP liability position was $986.2b at 31 December 2017, an increase of $27.8b (3%) on the revised 30 September 2017 position of $958.4b. Australia's net foreign debt liabilities increased $19.6b (2%) to $1,010.0b. Australia's net foreign equity assets decreased $8.3b (26%) to $23.8b at 31 December 2017.