5302.0 - Balance of Payments and International Investment Position, Australia, Sep 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2019   
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Revisions

The following goods component has been revised since the release of the September 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 September 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:
  • increased the 2015-16 current account deficit by $15m
  • decreased the 2016-17 current account deficit by $20m
  • decreased the 2017-18 current account deficit by $149m
  • decreased the current account deficit for the September quarter 2018 by $432m
  • decreased the current account deficit for the December quarter 2018 by $157m
  • increased the current account deficit for the March quarter 2019 by $790m
  • decreased the current account surplus for the June quarter 2019 by $1,441m.

The International Investment Position (IIP) has been revised back to the September quarter 2018. These revisions have decreased Australia's net IIP liability $3,594m to a net liability position of $997,966m at 30 June 2019. The financial account deficit has been revised down $663m to $3,267m at the June 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 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 2019 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 4 December 2019.