5302.0 - Balance of Payments and International Investment Position, Australia, Mar 2008
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/06/2008
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MARCH KEY POINTS
BALANCE OF PAYMENTS
INTERNATIONAL INVESTMENT POSITION (IIP)
Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last three years and six quarters.
CHANGES IN THIS ISSUE
General Government foreign debt liabilities and net foreign debt for March quarter 2008 have been confidentialised in Table 30, Foreign Debt Levels. This is due to a request from the relevant Minister that identifiable information about the activities of the Future Fund be confidentialised. The information will remain confidential in all releases published up to and including 30 June 2008.
A revised front page format has been introduced in this issue. This enables more information to be provided in the 'key points' section explaining reasons for movements in components and balances and unusual occurrences during the quarter.
CHANGES IN FORTHCOMING ISSUES
The global financial crisis has caused changes in the structure and behaviour of financial markets. Sudden shifts in structural relationships which have existed for some time mean that data supplied by businesses to the ABS and ABS editing and compilation practices may not reflect the impact of these changes fully and in a timely manner.
The ABS is working with providers and reviewing and updating, where needed, a range of methods relating to the collection and compilation of financial sector output, income, transactions, positions and prices. Improvements have been incorporated into this publication and some will be incorporated into future publications, leading to revisions.
One of these reviews relates to the calculation of accrued income on long-term debt securities. In addition, methodology and data sources for compiling compensation of employees have been improved. Both of these reviews will be implemented in the June quarter 2008 issue and will result in revisions.
An information paper Impact of introducing Revision 4 of the Standard International Trade Classification (cat. no. 5368.0.55.010) was released on 26 May 2008. The paper outlines statistical impacts resulting from changes to the classification of Australian import and export statistics. This information paper can be accessed on the ABS web site www.abs.gov.au. The ABS will implement the changes to the classifications from the September 2008 reference quarter. This will impact on data released in this and related publications.
For further information contact Selvi Sekhar 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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