5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/03/2020   
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December key statistics

Balance of payments

  • The current account surplus, seasonally adjusted, fell $5,548m to $955m in the December quarter 2019. The balance on goods and services surplus fell $6,021m to $13,893m. The primary income deficit fell $626m to $12,498m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services rose $531m from $8,418m in the September quarter 2019 to $8,949m in the December quarter 2019. This is expected to contribute 0.1 percentage points to growth in the December quarter 2019 volume measure of GDP.

International investment position (IIP)
  • Australia's net IIP liability position was $891.5b at 31 December 2019, a decrease of $83.4b on the revised 30 September 2019 position of $974.9b. Australia's net foreign debt liability position decreased $20.9b to $1,143.5b. Australia's net foreign equity asset position increased $62.6b to $252.1b at 31 December 2019.

Sep Qtr 2019
Dec Qtr 2019
Sep Qtr 2019 to Dec Qtr 2019
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
4 785
4 017
-16
Seasonally adjusted
6 503
955
-85
BALANCE ON GOODS AND SERVICES
Trend estimates
18 520
16 896
-9
Seasonally adjusted
19 914
13 893
-30
NET PRIMARY INCOME
Trend estimates
-13 488
-12 542
7
Seasonally adjusted
-13 124
-12 498
5
LEVELS AT END OF PERIOD
International Investment Position
974 925
891 482
-9
Net foreign equity
-189 476
-252 064
-33
Net foreign debt
1 164 402
1 143 546
-2



Current account balance (a), Main aggregates
Graph: Current Account Balance (a), Main aggregates



International investment
Graph: International Investment




Bushfires in December Quarter
Quality assurance undertaken by the ABS confirmed that the bushfires did not result in quality impacts to Balance of Payments and International Investment Position for December quarter 2019. It is expected that the recent bushfires and COVID-19 virus will impact the Australian economy in the March quarter 2020. For more information please see the ABS Chief Economist Series paper Measuring natural disasters in the Australian economy.


New ABS Website
The ABS will be launching a new website in 2020. You will soon be able to see how this release will appear on the new website by exploring our Beta site. Regular users of this information are encouraged to explore the Beta site and consider if this will affect the way you access and consume ABS data and information. If you would like more information on the new ABS website, or want to discuss how the transition to the new site might impact you, please email newABSwebsite@abs.gov.au