5302.0 - Balance of Payments and International Investment Position, Australia, Jun 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/09/2019   
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Revisions

The following goods component has been revised since the release of the June 2019 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 March quarter 2019.

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 2015. In original current price terms, these revisions have:
  • decreased the 2015-16 current account deficit by $665m
  • decreased the 2016-17 current account deficit by $85m
  • increased the 2017-18 current account deficit by $565m
  • increased the current account deficit for the September quarter 2018 by $256m
  • increased the current account deficit for the December quarter 2018 by $152m
  • decreased the current account deficit for the March quarter 2019 by $1,044m.

The international investment position (IIP) has been revised back to the September quarter 2015. These revisions have revised Australia's net IIP liability up $26,189m to a net liability position of $992,335m at 31 March 2019. The financial account surplus has been revised up $2,628m to $3,630m in the March quarter 2019.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates and the incorporation of estimates for the latest quarter.

In seasonally adjusted terms, the revisions increased the volume surplus on goods and services by $1,041m for the March quarter 2019.

Data in this issue aligns with the data in the June quarter 2019 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 4 September 2019.