5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2015 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/03/2016   
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1 March 2016
Embargoed: 11:30 am (Canberra time)
Increase in current account deficit

Latest Australian Bureau of Statistics (ABS) figures show that in seasonally adjusted, current price terms, the current account deficit increased $2,258m (12 per cent) to $21,106m in the December quarter 2015. Exports of goods and services fell $2,550m (three per cent) and imports of goods and services rose $43m. The primary income deficit fell $331m (three per cent).

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $19m to $8,510m in the December quarter 2015. This is expected to contribute 0.0 percentage points to growth in the December quarter 2015 volume measure of Gross Domestic Product.

Australia's net International Investment Position was a liability of $943.6b at 31 December 2015, an increase of $19.2b (two per cent) on the 30 September 2015 position of $924.5b. Australia's net foreign debt liabilities increased $2.8b to a net liability position of $1,005.6b. Australia's net foreign equity assets decreased $16.4b (21 per cent) to a net asset position of $61.9b at 31 December 2015.

The ABS will release feature article, A view into United States dollar exposure with the December quarter 2015 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0). This article is the second one in a series of analytical studies intended to present a picture of the Australian economy and its interactions with the rest of the world. This article focuses on the exposure of the USD in Australia's investments and trade activity.

Both publications are available for download from www.abs.gov.au.

Media notes: