JUNE KEY FIGURES

			Mar Qtr 2009	Jun Qtr 2009	Mar Qtr 2009 to Jun Qtr 2009
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-8 042	-9 907	-23
	Seasonally adjusted		-6 346	-13 347	. .
BALANCE ON GOODS AND SERVICES
	Trend estimates		2 926	1 479	-49
	Seasonally adjusted		4 267	-1 667	. .
NET INCOME
	Trend estimates		-10 786	-11 185	-4
	Seasonally adjusted		-10 425	-11 489	-10
LEVELS AT END OF PERIOD
	International Investment Position		733 363	725 890	-1
		Net foreign equity	57 673	92 716	61
		Net foreign debt	675 690	633 174	-6
. . not applicable

Current Account, Main aggregates - Trend estimates at current prices (a)

International Investment

JUNE KEY POINTS


BALANCE OF PAYMENTS

• The current account deficit, seasonally adjusted, rose $7,001m to $13,347m in the June quarter 2009. There was a turnaround of $5,934m on the balance on goods and services, resulting in a $1,667m deficit in the June quarter 2009. The income deficit increased $1,064m (10%) to $11,489m.
• In seasonally adjusted chain volume terms there was an increase of $683m (36%) in the deficit on goods and services. This is expected to detract 0.2 percentage points to growth in the June quarter 2009 volume measure of GDP.

INTERNATIONAL INVESTMENT POSITION (IIP)

• Australia's net IIP fell $7.5b to a net liability position of $725.9b in the June quarter 2009. Australia's net foreign debt liability decreased by $42.5b to a liability position of $633.2b. Australia's net foreign equity liability increased $35.0b to a liability position of $92.7b.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
September 2009	8 December 2009
December 2009	1 March 2010
March 2010	31 May 2010

REVISIONS

Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last three years and six quarters.

Incorporation of the latest survey and administrative data has resulted in revisions to the current account back to September quarter 2007. In original terms, these revisions have increased the 2007-08 current account deficit by $1,872m (3%) and increased the deficit for the March quarter 2009 by $1,487m (36%). In seasonally adjusted chain volume terms, these revisions increased the volume deficit on goods and services by $979m for the March quarter 2009.

The financial account and international investment position have been revised back to September quarter 2007, resulting in a decrease of $1,275m in Australia's net IIP liability as at 31 March 2009 to a liability position of $733,363m.


CHANGES TO NEXT ISSUE

Significant changes to the presentation of statistics in this publication will be made in the next issue. Mock-ups of the time series spreadsheets will be released on 27 October 2009 with new series identifiers. For details see Changes in September issue.


TREND ESTIMATES

Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, please see paragraph 11 of the explanatory notes.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for balance of payments estimates, and Charles Kauye on Canberra (02) 6252 5541 for international investment estimates.