JUNE KEY FIGURES

			Mar Qtr 2014	Jun Qtr 2014	Mar Qtr 2014 to Jun Qtr 2014
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-10 645	-11 175	-5
	Seasonally adjusted		-7 804	-13 742	-76
BALANCE ON GOODS AND SERVICES
	Trend estimates		-457	-1 596	-249
	Seasonally adjusted		2 567	-4 691	(a). .
NET PRIMARY INCOME
	Trend estimates		-9 703	-9 121	6
	Seasonally adjusted		-9 880	-8 605	13
LEVELS AT END OF PERIOD
	International Investment Position		847 759	864 244	2
		Net foreign equity	-536	-1 219	-127
		Net foreign debt	848 296	865 462	2
. . not applicable
(a) See paragraph 5 of the Explanatory Notes.

Current Account Balance (a), Main aggregates

International Investment

JUNE KEY POINTS


BALANCE OF PAYMENTS

• The current account deficit, seasonally adjusted, rose $5,938m (76%) to $13,742m in the June quarter 2014. There was a turnaround of $7,258m on the balance of goods and services, resulting in a deficit of $4,691m in the June quarter 2014. The primary income deficit fell $1,275m (13%) to $8,605m.
• In seasonally adjusted chain volume terms, the surplus on goods and services fell $3,624m (25%) from $14,281m in the March quarter 2014 to $10,657m in the June quarter 2014. This is expected to detract 0.9 percentage points from growth in the June quarter 2014 volume measure of GDP.

INTERNATIONAL INVESTMENT POSITION (IIP)

• Australia's net IIP liability position was $864.2b at 30 June 2014, an increase of $16.5b on 31 March 2014. Australia's net foreign debt liability increased $17.2b to a net liability position of $865.5b. Australia's net foreign equity increased $0.7b to a net asset position of $1.2b at 30 June 2014.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
September 2014	2 December 2014
December 2014	3 March 2015
March 2015	2 June 2015
June 2015	1 September 2015

REVISIONS

Since the last issue of this publication data in original terms have been revised back to September quarter 2010. See the Revisions section for details.

The following goods and services debits components have been revised since the release of the June 2014 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0):

• capital goods n.e.s. component of goods debits, revised in June quarter 2014
• legal, accounting, management consulting, public relations and other professional services component of services debits, revised in June quarter 2014.

Data in this issue aligns with the data in the June quarter 2014 issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 3 September 2014.


CHANGES IN THIS AND FORTHCOMING ISSUES

See the Changes in this and forthcoming issues section for details.


VALUE ADJUSTMENTS

See the Value adjustments section for details.


RELATED RELEASES

EXPORT AND IMPORT INVOICE CURRENCIES, JUNE 2014

The feature article Export and Import Invoice Currencies, June 2014 was published in the June 2014 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0). This article analyses the major currencies used to invoice merchandise trade and highlights which goods are invoiced in these currencies.


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INQUIRIES

For further information contact Balance of Payments on Canberra (02) 6252 5540 for balance of payments estimates, and International Investment on Canberra (02) 6252 5541 for international investment estimates.