5232.0 - Australian National Accounts: Finance and Wealth, Dec 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 26/03/2020   
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December key figures

Financing resources and investment, original, current prices

Non-financial corporations
Financial corporations
General government
Household
Total National
Rest of world
$b
$b
$b
$b
$b
$b

Financing resources
Net saving (a)
23.3
-2.9
6.2
4.2
30.8
-1.8
plus Consumption of fixed capital
42.4
3.1
10.8
30.9
87.3
-
Gross saving
65.7
0.2
17.1
35.2
118.1
-1.8
plus Net capital transfers
0.8
-
-1.6
0.7
-0.2
0.2
less Statistical discrepancy (b)
-
-
-
-
-6.6
-
Total financing resources
66.5
0.2
15.4
35.8
124.5
-1.7
Uses of financing (Investment)
Capital formation
Gross fixed capital formation
53.3
3.4
20.8
41.0
118.5
-
plus Change in inventories
1.8
-
0.1
2.5
4.4
-
plus Net acquisition of non-produced non-financial assets
-0.2
-
0.2
-
-
-
Total capital formation
54.8
3.4
21.1
43.6
122.9
-
plus Financial investment
Acquisition of financial assets
4.8
20.3
2.1
43.5
-6.3
-7.9
less Incurrence of liabilities
21.7
17.2
9.5
20.6
-7.9
-6.3
Net financial investment (Net lending (+) / net borrowing (-))
-17.0
3.1
-7.4
22.9
1.7
-1.7
less Net errors and omissions
-28.6
6.3
-1.7
30.6
-
-
Total investment
66.5
0.2
15.4
35.8
124.5
-1.7

- nil or rounded to zero (including null cells)
(a) Net saving for the Rest of world is the balance on the external income account.
(b) The statistical discrepancy is not able to be distributed among the sectors.


National investment reaches a record high

National investment rose by $10.2b this quarter to $122.9b, the highest level on record.


Graph 1. Total capital formation, current prices
Graph 1 shows Total capital formation, current prices


Household investment grew to $43.6b, up from $38.9b in the previous quarter.

General government investment increased by $4.1b this quarter to $21.1b. This was impacted by the purchase of assets from the public corporations sector.

Non-financial corporations investment increased by $1.2b to $54.8b. There was a stronger than usual build up of mining inventories this quarter. Inventories of coal increased as production returned to more typical levels following planned and unplanned maintenance during the September quarter.


Australia is a net lender for a third consecutive quarter

National net lending was $1.7b in December quarter 2019, a slowdown from the $6.1b and $3.1b recorded in the June and September quarters 2019. Australia repaid $7.9b of liabilities with non-residents and disposed $6.3b of financial assets.

The decrease in Australia's liabilities to rest of the world of $53.4b was driven by the settlement of $41.5b in derivative contracts by authorised deposit taking institutions (ADIs). This was partly offset by non-residents acquiring private non-financial corporations' shares and other equity ($9.9b) and short term debt securities ($25.7b) issued by ADIs. Australia's transactions of financial assets during the quarter was -$6.3b as residents settled $42.3b of ADI derivative contracts with the rest of world, this was partly offset by acquisition of $21.2b in overseas shares and lending of $9.5b in loans to rest of world.


Graph 2. Net financial investment (net lending (+) / net borrowing (-))
Graph 2 shows Net financial investment


Non-financial corporations were net borrowers of $17.0b, driven by issuance of equity ($23.5b).

The general government was a net borrower of $7.4b, driven by the disposal of currency and deposit assets ($9.1b) and the issuances of short term debt securities ($7.5b) and loan borrowings ($6.0b).

Households were net lenders of $22.9b, accumulating $11.7b in deposits and accruing $19.3b in net equity in reserves of pension funds (superannuation), these were offset by loan borrowings of $19.8b.


Notes

Forthcoming issues

Issue (quarter)Release Date
March 202025 June 2020
June 202024 September 2020
September 202017 December 2020
December 202025 March 2021


Changes to this issue

Table 53. Nominal Value of Short Term Loans and Placements Market ($ million) and Table 54. Nominal Value of Long Term Loans and Placements Market ($ million) are available in this release following quality assurance work.


Revisions in this issue

This issue contains revisions to the original estimates of the capital accounts back to September quarter 2014 and concurrent seasonal adjustment.

There have been revisions to the financial accounts and balance sheets due to quality assurance reviews affecting the published aggregates after December quarter 2017, in addition to amendments to data collected in the ABS Survey of Financial Information, ABS Survey of International Investment and to data derived from Australian Prudential Regulation Authority (APRA) administrative data sets.


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