REVISIONS


The following goods component has been revised since the release of the March 2019 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0).

• capital goods n.e.s. component of goods debits, revised in the March quarter 2019.

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 the September quarter 2017. In original current price terms, these revisions have:

• decreased the current account deficit for the September quarter 2017 by $62m
• decreased the current account deficit for the December quarter 2017 by $14m
• increased the current account deficit for the March quarter 2018 by $47m
• decreased the current account deficit for the June quarter 2018 by $139m
• decreased the current account deficit for the September quarter 2018 by $693m
• decreased the current account deficit for the December quarter 2018 by $1,213m.

The International Investment Position (IIP) has been revised back to the September quarter 2017. These revisions have increased Australia's net IIP liability $22,322m to a net liability position of $997,972m at 31 December 2018. The financial account surplus has been revised down $1,373m to $8,682m at the December quarter 2018.

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 increased the volume surplus on goods and services by $286m for the December quarter 2018.

Data in this issue aligns with the data in the March quarter 2019 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 5 June 2019.