The international statistical standards for compilation of the National and International Accounts have been revised recently. The revised statistical standards are in the System of National Accounts 2008 and the Balance of Payments and International Investment Position Manual sixth edition. In parallel with these standards a revised industrial classification has been introduced. ABS and Statistics New Zealand have collaborated on producing a regionally relevant version of this Australian and New Zealand Industrial Classification 2006 edition (ANZSIC06). In addition to the changes resulting from new standards and classification, additional improvements to source data and methods have been made.
This information paper describes the key changes and impact on selected key aggregates from the Australian System of National Accounts and the Balance of Payments and International Investment Position. The estimates of impacts presented in this paper are indicative only and are subject to refinement and revision. A range of new or revised methods used in compilation of the National and International Accounts are discussed in detail.
The Australian Bureau of Statistics (ABS) will implement the standards in ABS national and international statistics in the Australian System of National Accounts to be published on 8 December 2009, the September reference quarter 2009 quarterly Australian National Accounts to be published on 16 December 2009 and the September reference quarter 2009 quarterly Balance of Payments and International Investment Position to be published on 8 December 2009. The revisions to national and international accounts will be implemented across the complete time series.