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5302.0 - Balance of Payments and International Investment Position, Australia, March 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2013   
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MEDIA RELEASE
4 June 2013
Embargo: 11.30 am (Canberra time)
100/2013
Decrease in current account deficit

Latest Australian Bureau of Statistics (ABS) figures show that in seasonally adjusted, current price terms, the current account deficit decreased $6,249m (42 per cent) to $8,510m in the March quarter 2013. Exports of goods and services rose $2,450m (3 per cent) and imports of goods and services fell $3,130m (4 per cent). The primary income deficit fell $681m (7 per cent).

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $3,657m (84 per cent) to $8,028m in the March quarter 2013. This is expected to contribute 1.0 percentage points to growth in the March quarter 2013 volume measure of Gross Domestic Product.

Australia's net International Investment Position (IIP) liability position was $877.1b at 31 March 2013, an increase of $12.8b on the 31 December 2012 liability position of $864.3b. Australia's net foreign equity liability increased $6.5b to a liability position of $113.5b. Australia's net foreign debt liability increased $6.3b to a liability position of $763.6b.

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 2013, Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 5 June 2013.

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