Changes in this issue
Annual seasonal re-analysis
The seasonally adjusted and trend estimates of goods, services, primary income and secondary income have been revised as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the quarterly processing cycle and assesses the appropriateness of any prior corrections.
New base year and re-referencing of chain volume estimates and implicit price deflators
A new base year 2017-18 has been introduced into chain volume estimates, implicit price deflators, chain Laspeyres price and terms of trade indexes. These series have been re-referenced to 2017-18. Additivity has been preserved in the quarters subsequent to the new reference year as well as the annual sum of the quarters in the reference year. Re-referencing affects the levels, but not the movements of chain volume estimates, implicit price deflators and terms of trade indexes.
Selected international accounts ratios - table 23
The updated annual GDP and GNI benchmarks released in the Australian System of National Accounts, 2018-19 (cat. no. 5204.0) on 25 October 2019 will be revised and incorporated into the quarterly national accounts with 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. The revised benchmarks will change the level of the quarterly and annual GDP and GNI used in the ratios for table 23 of this publication. As the ratios using the currently available GDP and GNI would be inconsistent with the revised data, they have been suppressed in this issue. Table 23 in the time series spreadsheets released in conjunction with this publication will be updated with the release of the quarterly Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) on 4 December 2019.
Change to Australia's economic territory
A new Maritime Boundary Treaty between Australia and Timor-Leste came in to force on 30 August 2019. The new treaty provides exclusive jurisdiction of the former Joint Petroleum Development Area excluding Greater Sunrise in the Timor Sea to Democratic Republic of Timor-Leste. From this publication onwards, data contained within Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) will reflect the new maritime boundary.