MEDIA RELEASE
6 March 2012	Embargo: 11.30 am (Canberra time)	26/2012

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit rose $2,550m (44%) to $8,374m in the December quarter 2011. Exports of goods and services increased $336m and imports of goods and services increased $2,881m (4%). The primary income deficit fell $16m.

In seasonally adjusted, chain volume terms, the net goods and services deficit fell $861m (6%) to $13,228m in the December quarter 2011. This is expected to contribute 0.3 percentage points to growth in the December quarter 2011 volume measure of Gross Domestic Product.

Australia's net international investment position increased $1.7b to a net liability position of $854.7b in the December quarter 2011. Australia's net foreign equity liability increased $7.5b to a liability position of $119.3b. Australia's net foreign debt liability decreased $5.8b to a liability position of $735.4b.

Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0).

Media notes:

• When reporting ABS data you must attribute the Australian Bureau of Statistics (or ABS) as the source.
• December quarter 2011, Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 7 March 2012.