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MARCH KEY FIGURES

			Dec Qtr 2018	Mar Qtr 2019	Dec Qtr 2018 to Mar Qtr 2019
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-6 196	-2 006	68
	Seasonally adjusted		-6 325	-2 900	54
BALANCE ON GOODS AND SERVICES
	Trend estimates		9 826	13 846	41
	Seasonally adjusted		8 841	13 594	54
NET PRIMARY INCOME
	Trend estimates		-15 604	-15 384	1
	Seasonally adjusted		-14 792	-15 984	-8
LEVELS AT END OF PERIOD
	International Investment Position		997 972	966 146	-3
		Net foreign equity	-96 546	-133 331	-38
		Net foreign debt	1 094 519	1 099 476	-
- nil or rounded to zero (including null cells)

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, fell $3,425m to $2,900m in the March quarter 2019. The balance on goods and services surplus rose $4,753m to $13,594m. The primary income deficit rose $1,192m to $15,984m.
• In seasonally adjusted chain volume terms, the surplus on goods and services rose $1,069m from $1,527m in the December quarter 2018 to $2,597m in the March quarter 2019. This is expected to contribute 0.2 percentage points to growth in the March quarter 2019 volume measure of GDP.

• Australia's net IIP liability position was $966.1b at 31 March 2019, a decrease of $31.8b on the revised 31 December 2018 position of $998.0b. Australia's net foreign debt liability position increased $5.0b to $1,099.5b. Australia's net foreign equity asset position increased $36.8b to $133.3b at 31 March 2019.