Australian Bureau of Statistics

Increase in Current Account Deficit

Victor P Taffa

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit rose $2,417M to $7,830M in the September Quarter 2010. Exports of goods and services decreased $915M (1%) and imports of goods and services decreased $118M. The primary income deficit rose $1,663M (14%).

In seasonally adjusted chain volume terms, there was a turnaround of $1,457M in net goods and services resulting in a deficit of $68M. This is expected to detract 0.4 percentage points from growth in the September Quarter 2010 volume measure of Gross Domestic Product.

Australia’s net International Investment Position (IIP) rose $4.2b to a net liability position of $771.3B in the September Quarter 2010. Australia’s net foreign debt liability decreased $8.3B to a liability position of $666.0B. Australia’s net foreign equity liability increased $12.5B to a liability position of $105.3B.

SEPTEMBER KEY FIGURES

SEPTEMBER KEY POINTS

BALANCE OF PAYMENTS

• The current account deficit, seasonally adjusted, rose $2,417M (45%) to $7,830M in the September Quarter 2010. The surplus on the balance of goods and services fell $797M (12%) to $5,773M. The primary income deficit rose $1,663m (14%) to $13,166M.
• In seasonally adjusted chain volume terms, there was a turnaround on net goods and services of $1,457m from a surplus of $1,389m in the June Quarter 2010 to a deficit of $68M in the September Quarter 2010. This is expected to detract 0.4 percentage points from growth in the September Quarter 2010 volume measure of GDP.

INTERNATIONAL INVESTMENT POSITION (IIP)

• Australia’s net IIP rose $4.2 B to a net liability position of $771.3 B in the September Quarter 2010. Australia’s net foreign debt liability decreased $8.3 B to a liability position of $666.0 B. Australia’s net foreign equity liability increased $12.5 B to a liability position of $105.3 B.

Australian Bureau of Statistics

Decrease in Current Account Deficit

Victor P Taffa

Latest ABS figures show that, in seasonally adjusted, current price terms, the current account deficit fell $10,817m to $5,640m in the June quarter 2010. Exports of goods and services increased $12,747m (21%) and imports of goods and services increased $3,041m (5%).

In trend current price terms, the current account deficit fell $9,463m to $7,141m in the June quarter 2010.

In seasonally adjusted chain volume terms, the deficit on goods and services fell $1,260m (16%) from $7,694m in the March quarter 2010 to $6,434m in the June quarter 2010. This is expected to contribute 0.4 percentage points to growth in the June quarter 2010 volume measure of Gross Domestic Product.

Australia’s net International Investment Position (IIP) rose $4.2b to a net liability position of $763.5b in the June quarter 2010. Australia’s net foreign debt liability increased $14.1b (2%) and Australia’s net foreign equity liability decreased $10.0b (10%).

Australian Bureau of Statistics

Decrease in Current Account Deficit

Victor P Taffa

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit fell $1,917m to $16,551m in the March quarter 2010. Exports of goods and services increased $2,113m (4%) and imports of goods and services increased $1,124m (2%).

In trend current price terms, the current account deficit rose $957m to $17,631m in the March quarter 2010.

In seasonally adjusted chain volume terms, the goods and services deficit increased $1,503m resulting in a deficit of $7,983m. This is expected to detract 0.5 percentage points from growth in the March quarter 2010 volume measure of Gross Domestic Product.

Australia’s net International Investment Position (IIP) fell $5.5b (1%) to a net liability position of $757.2b in the March quarter 2010. Australia’s net foreign debt liability increased $5.8b (1%) and Australia’s net foreign equity liability decreased $11.3b (10%).

MARCH KEY FIGURES