5302.0 - Balance of Payments and International Investment Position, Australia, Mar 2010 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/05/2010   
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MEDIA RELEASE
May 31, 2010
61/2010
Decrease in current account deficit


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%).

Further details can be found in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) available for free download on the ABS website at www.abs.gov.au

Media Note:
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or ABS) as the source
  • March quarter national accounts (Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 2 June 2010.