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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ABS Chief Economist Bruce Hockman said: "Six consecutive quarters of goods and services surpluses, broadly commodity driven, have laid the foundation for our first current account surplus in 44 years.
"The surplus is both a price and volume story. Similar to the March quarter 2019, continued global supply interruptions have maintained high iron ore prices into the June quarter, boosting our export receipts to record levels.
"Export volumes for the key bulk commodities of liquid natural gas, coal and iron ore were up, while volumes fell across several import categories resulting in an increased June quarter trade surplus."
Contribution to Gross Domestic Product
In seasonally adjusted chain volume terms, the balance on goods and services surplus increased $2.7 billion, widening the surplus to $6.4 billion. The rising exports and falling imports resulted in an expected contribution of 0.6 percentage points to growth in the June quarter 2019 Gross Domestic Product.
International Investment Position
Australia's net international investment position was a liability of $1,001.6 billion at 30 June 2019, an increase of $9.2 billion on the revised 31 March 2019 position of $992.3 billion.
Australia's net foreign debt liability position increased $19.4 billion to $1,143.5 billion. Australia's net foreign equity asset position increased $10.2 billion to $141.9 billion at 30 June 2019.
Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) available for download from https://www.abs.gov.au.
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