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JUNE KEY FIGURES

			Mar Qtr 2011	Jun Qtr 2011	Mar Qtr 2011 to Jun Qtr 2011
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-8 754	-8 829	-1
	Seasonally adjusted		-11 115	-7 419	33
BALANCE ON GOODS AND SERVICES
	Trend estimates		5 243	4 778	-9
	Seasonally adjusted		2 747	5 599	104
NET PRIMARY INCOME
	Trend estimates		-13 492	-13 107	3
	Seasonally adjusted		-13 369	-12 499	7
LEVELS AT END OF PERIOD
	International Investment Position		782 294	781 121	-
		Net foreign equity	107 702	106 130	-1
		Net foreign debt	674 592	674 991	-
- nil or rounded to zero (including null cells)

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

International Investment

• The current account deficit, seasonally adjusted, fell $3,696m (33%) to $7,419m in the June quarter 2011. The surplus on the balance of goods and services rose $2,852m (104%) to $5,599m. The primary income deficit fell $870m (7%) to $12,499m.
• In seasonally adjusted chain volume terms, the deficit on goods and services rose $1,643m (19%) from $8,581m in the March quarter 2011 to $10,224m in the June quarter 2011. This is expected to detract 0.5 percentage points from growth in the June quarter 2011 volume measure of GDP.

• Australia's net IIP liability position was $781.1b at 30 June 2011, a decrease of $1.2b on 31 March 2011. Australia's net foreign equity liability decreased $1.6b to a liability position of $106.1b. Australia's net foreign debt liability increased $0.4b to a liability position of $675.0b.

• Improvement to the methodology of compiling chain volume measures and implicit price deflators on goods credits and debits.

• Annual seasonal re-analysis
• New base year and re-referencing of chain volume estimates and implicit price deflators.