5302.0 - Balance of Payments and International Investment Position, Australia, Mar 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/06/2017   
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MARCH KEY FIGURES

Dec Qtr 2016
Mar Qtr 2017
Dec Qtr 2016 to Mar Qtr 2017
$m
$m
% change

BALANCE ON CURRENT ACCOUNT
Trend estimates
-5 825
-1 259
78
Seasonally adjusted
-3 511
-3 108
11
BALANCE ON GOODS AND SERVICES
Trend estimates
3 994
9 950
149
Seasonally adjusted
6 113
9 242
51
NET PRIMARY INCOME
Trend estimates
-9 419
-10 803
-15
Seasonally adjusted
-9 228
-11 940
-29
LEVELS AT END OF PERIOD
International Investment Position
1 028 203
1 025 520
-
Net foreign equity
-327
10 557
(a). .
Net foreign debt
1 028 529
1 014 963
-1

. . not applicable
- nil or rounded to zero (including null cells)
(a) See paragraph 17 of the Explanatory Notes.

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

International Investment
Graph: International Investment




MARCH KEY POINTS


BALANCE OF PAYMENTS
  • The current account deficit, seasonally adjusted, fell $403m (11%) to $3,108m in the March quarter 2017. There was an increase of $3,129m (51%) on the balance on goods and services, resulting in a surplus of $9,242m in the March quarter 2017. The primary income deficit rose $2,712m (29%) to $11,940m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services fell $2,966m (85%) from $3,509m in the December quarter 2016 to $543m in the March quarter 2017. This is expected to detract 0.7 percentage points from growth in the March quarter 2017 volume measure of GDP.


INTERNATIONAL INVESTMENT POSITION (IIP)
  • Australia's net IIP liability position was $1,025.5b at 31 March 2017, a decrease of $2.7b on the revised 31 December 2016 position of $1,028.2b. Australia's net foreign debt liability decreased $13.6b (1%) to $1,015.0b. Australia's net foreign equity had a turnaround of $10.9b from a net asset position of $0.3b at 31 December 2016 to a net liability position of $10.6b at 31 March 2017.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2017 5 September 2017
September 2017 5 December 2017
December 2017 6 March 2018
March 2018 5 June 2018



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INQUIRIES

For further information contact Balance of Payments on Canberra (02) 6252 5540 for balance of payments estimates, and International Investment on Canberra (02) 6252 5541 for international investment estimates.