MEDIA RELEASE
4 September 2012	Embargo: 11.30 am (Canberra time)	134/2012

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit fell $1,196m (9%) to $11,801m in the June quarter 2012. Exports of goods and services increased $3,061m (4%) and imports of goods and services increased $2,430m (3%). The primary income deficit fell $520m (5%).

In seasonally adjusted, chain volume terms, the net goods and services deficit fell $871m (6%) to $13,635m in the June quarter 2012. This is expected to contribute 0.3 percentage points to growth in the June quarter 2012 volume measure of Gross Domestic Product.

Australia's net International Investment Position liability was $879.5b at 30 June 2012, a decrease of $5.2b on 31 March 2012. Australia's net foreign debt liability increased $14.9b to a liability position of $756.2b. Australia's net foreign equity liability decreased $20.1b to a liability position of $123.3b.

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.
• June quarter 2012, Australian National Accounts: National Income and Expenditure (cat. no. 5206.0) will be released on 5 September 2012.