MEDIA RELEASE
5 June 2012	Embargo: 11.30 am (Canberra time)	77/2012

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit rose $5,253m (55%) to $14,892m in the March quarter 2012. Exports of goods and services decreased $5,973m (7%) and imports of goods and services decreased $657m (1%). The primary income deficit fell $72m (1%).

In seasonally adjusted, chain volume terms, the net goods and services deficit rose $1,816m (14%) to $14,635m in the March quarter 2012. This is expected to detract 0.5 percentage points from growth in the March quarter 2012 volume measure of Gross Domestic Product.

Australia's net IIP liability position was $880.2b at 31 March 2012, an increase of $23.8b on 31 December 2011. Australia's net foreign debt liability increased $7.0b to a liability position of $742.1b. Australia's net foreign equity liability increased $16.8b to a liability position of $138.1b.

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.
• March quarter 2012, Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 6 June 2012.