SUMMARY OF REVISIONS SINCE THE LAST ISSUE OF THIS PUBLICATION
Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last five quarters.
Incorporation of the latest survey and administrative data has resulted in revisions to the balance of payments and IIP series back to September quarter 2011. In original current price terms, these revisions have:
- decreased the 2011-12 current account deficit by $2,202m
- decreased the current account deficit for September quarter 2011 by $28m
- decreased the current account deficit for December quarter 2011 by $491m
- decreased the current account deficit for March quarter 2012 by $649m
- decreased the current account deficit for June quarter 2012 by $1,035m
- increased the current account deficit for September quarter 2012 by $465m
- decreased Australia's net IIP liability as at 30 September 2012 by $5,782m to a liability position of $863,850m.
The full time series for the revisions are available in Table 36, Summary of revisions, from the 'Download' tab of this issue.
Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates and the incorporation of estimates for the latest quarter.
In seasonally adjusted terms, the revisions increased the chain volume surplus on goods and services by $209m (14%) for the September quarter 2012.