5302.0 - Balance of Payments and International Investment Position, Australia, Sep 2016 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2016   
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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 2011. In original current price terms, these revisions have:

  • decreased the 2011-12 current account deficit by $473m
  • decreased the 2012-13 current account deficit by $1,440m
  • decreased the 2013-14 current account deficit by $3,550m
  • increased the 2014-15 current account deficit by $415m
  • increased the current account deficit for September 2015 quarter by $307m
  • increased the current account deficit for December 2015 quarter by $318m
  • increased the current account deficit for March 2016 quarter by $246m
  • increased the current account deficit for June 2016 quarter by $878m.

The International Investment Position (IIP) has been revised back to September quarter 2015. Major contributors to the revisions were due to late forms, the addition of units to the frame and revised data from reporting units. These revisions have increased Australia's net IIP liability $2,039m to a net liability position of $1,037,897m at 30 June 2016.

Seasonally adjusted and trend series have been revised to incorporate latest quarterly estimates, the annual re-analysis and the re-derivation of seasonal factors under the concurrent seasonal adjustment methodology. For details on the seasonal re-analysis see the Annual seasonal re-analysis section.

Chain volume estimates, implicit price deflators and terms of trade indexes have been revised as a result of the incorporation of revised estimates and seasonal factors and the introduction of a new reference year. For details see the New base year and re-referencing of chain volume estimates, implicit price deflators and terms of trade indexes section.

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