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DECEMBER KEY FIGURES

			Sep Qtr 2016	Dec Qtr 2016	Sep Qtr 2016 to Dec Qtr 2016
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-9 667	-5 437	44
	Seasonally adjusted		-10 201	-3 853	62
BALANCE ON GOODS AND SERVICES
	Trend estimates		-2 227	2 451	(a) . .
	Seasonally adjusted		-3 538	4 667	(a) . .
NET PRIMARY INCOME
	Trend estimates		-7 015	-7 454	-6
	Seasonally adjusted		-6 238	-8 081	-30
LEVELS AT END OF PERIOD
	International Investment Position		1 041 412	1 021 612	-2
		Net foreign equity	-7 198	-1 443	80
		Net foreign debt	1 048 610	1 023 055	-2
. . not applicable
(a) See paragraph 17 of the Explanatory Notes.

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, fell $6,348m (62%) to $3,853m in the December quarter 2016. There was a turnaround of $8,205m on the balance on goods and services, resulting in a surplus of $4,667m in the December quarter 2016. The primary income deficit rose $1,843m (30%) to $8,081m.
• In seasonally adjusted chain volume terms, the surplus on goods and services rose $700m (49%) from $1,424m in the September quarter 2016 to $2,124m in the December quarter 2016. This is expected to contribute 0.2 percentage points to growth in the December quarter 2016 volume measure of GDP.

• Australia's net IIP liability position was $1,021.6b at 31 December 2016, a decrease of $19.8b (2%) on the revised 30 September 2016 position of $1,041.4b. Australia's net foreign debt liability decreased $25.6b (2%) to a net liability position of $1,023.1b. Australia's net foreign equity asset decreased $5.8b (80%) to a net asset position of $1.4b at 31 December 2016.