REVISIONS

SUMMARY OF REVISIONS SINCE THE LAST ISSUE OF THIS PUBLICATION

Table 28 summarises revisions, in original current price terms, since the last issue of this publication.

Incorporation of the latest survey and administrative data has resulted in revisions to the balance of payments series back to September quarter 2012. In original current price terms, these revisions have:

• decreased the 2012-13 current account deficit by $677m
• decreased the 2013-14 current account deficit by $891m
• decreased the 2014-15 current account deficit by $933m
• decreased the current account deficit for September 2015 quarter by $156m
• decreased the current account deficit for December 2015 quarter by $306m
• decreased the current account deficit for March 2016 quarter by $5,796m.

The International Investment Position (IIP) has been revised back to September quarter 2012. These revisions have decreased Australia's net IIP liability by $4,375m to a net liability position of $1,007,773m at 31 March 2016.

In this issue of the publication there has been a substantial revision to the primary income credits series of non-financial corporations and consequentially to the reinvested earnings series for the March quarter 2016. This is a result of revisions to data reported to the ABS in the March quarter 2016.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates and the incorporation of estimates for the latest quarter.

In seasonally adjusted terms, the revisions decreased the volume surplus on goods and services by $815m (6%) for the March quarter 2016.

Data in this issue aligns with the data in the June quarter 2016 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 7 September 2016.