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5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2013 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 04/03/2014   
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DECEMBER KEY FIGURES

Sep Qtr 2013
Dec Qtr 2013
Sep Qtr 2013 to Dec Qtr 2013
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-11 446
-11 054
3
Seasonally adjusted
-12 539
-10 139
19
BALANCE ON GOODS AND SERVICES
Trend estimates
-1 588
-806
49
Seasonally adjusted
-2 672
247
(a). .
NET PRIMARY INCOME
Trend estimates
-9 354
-9 763
-4
Seasonally adjusted
-9 362
-9 898
-6
LEVELS AT END OF PERIOD
International Investment Position
845 502
829 797
-2
Net foreign equity
26 968
-23 074
(a). .
Net foreign debt
818 534
852 871
4

. . not applicable
(a) See paragraph 5 of the Explanatory Notes.

Current Account Balance (a), Main aggregates
Graph: Current Account Balance (a), Main aggregates

International Investment
Graph: International Investment




DECEMBER KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $2,400m (19%) to $10,139m in the December quarter 2013. There was a turnaround of $2,919m on the balance of goods and services, resulting in a surplus of $247m in the December quarter 2013. The primary income deficit rose $536m (6%) to $9,898m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services rose $2,505m (30%) from $8,248m in the September quarter 2013 to $10,753m in the December quarter 2013. This is expected to contribute 0.6 percentage points to growth in the December quarter 2013 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $829.8b at 31 December 2013, a decrease of $15.7b on 30 September 2013. Australia's net foreign debt liability increased $34.3b to a net liability position of $852.9b. Australia's net foreign equity had a turnaround of $50.0b from a net liability position of $27.0b on 30 September 2013 to a net asset position of $23.1b at 31 December 2013. This is the first time that an asset position has been recorded for net foreign equity (the quarterly series commenced in September quarter 1988).


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2014 3 June 2014
June 2014 2 September 2014
September 2014 2 December 2014
December 2014 3 March 2015



REVISIONS

Since the last issue of this publication data in original terms have been revised back to September quarter 2012. See Revisions for details.

The following goods and services debits components have been revised since the release of the December 2013 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0):
  • capital goods n.e.s. component of goods debits, revised back to September quarter 2012
  • legal, accounting, management consulting, public relations and other professional services component of services debits, revised in December quarter 2013
  • architectural, engineering and other technical services component of services debits, revised in December quarter 2013.

Data in this issue aligns with the data in the December quarter 2013 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 5 March 2014.


VALUE ADJUSTMENTS

See Value adjustments for details.


RELATED RELEASES

See Related releases for details.


INQUIRIES

For further information contact Val Tot on Canberra (02) 6252 5540 for balance of payments estimates, and Charles Kauye on Canberra (02) 6252 5541 for international investment estimates.


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Commonwealth of Australia 2014

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