REVISIONS


The following goods component has been revised since the release of the September 2018 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 September quarter 2018.

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 2014. In original current price terms, these revisions have:

• increased the 2014-15 current account deficit by $101m
• increased the 2015-16 current account deficit by $178m
• increased the 2016-17 current account deficit by $72m
• increased the current account deficit for the September quarter 2017 by $255m
• decreased the current account deficit for the December quarter 2017 by $870m
• decreased the current account deficit for the March quarter 2018 by $1,080m
• decreased the current account deficit for the June quarter 2018 by $1,204m.

The International Investment Position (IIP) has been revised back to the September quarter 2017. These revisions have increased Australia's net IIP liability $4,060m to a net liability position of $957,490m at 30 June 2018. The financial account surplus has been revised up $1,259m to $13,940m in the June 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 and the annual re-analysis. 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 for details.

Data in this issue aligns with the data in the September quarter 2018 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 5 December 2018.