MARCH KEY FIGURES
 | | | Dec Qtr 2013 | Mar Qtr 2014 | Dec Qtr 2013 to Mar Qtr 2014 |
| | | $m | $m | % change |
|
| BALANCE ON CURRENT ACCOUNT | | | |
| Trend estimates | -10 343 | -7 524 | 27 |
| Seasonally adjusted | -11 706 | -5 672 | 52 |
| BALANCE ON GOODS AND SERVICES | | | |
| Trend estimates | 9 | 2 588 | 28 656 |
| Seasonally adjusted | -609 | 3 591 | (a). . |
| NET PRIMARY INCOME | | | |
| Trend estimates | -9 854 | -9 622 | 2 |
| Seasonally adjusted | -10 592 | -8 781 | 17 |
| LEVELS AT END OF PERIOD | | | |
| International Investment Position | 838 535 | 850 411 | 1 |
| | Net foreign equity | -20 361 | -5 237 | 74 |
| | Net foreign debt | 858 896 | 855 649 | - |
|
| . . not applicable |
| - nil or rounded to zero (including null cells) |
| (a) See paragraph 5 of the Explanatory Notes. |
Current Account Balance (a), Main aggregates
| International Investment
|
MARCH KEY POINTS
BALANCE OF PAYMENTS
- The current account deficit, seasonally adjusted, fell $6,034m (52%) to $5,672m in the March quarter 2014. There was a turnaround of $4,200m on the balance of goods and services, resulting in a surplus of $3,591m in the March quarter 2014. The primary income deficit fell $1,811m (17%) to $8,781m.
- In seasonally adjusted chain volume terms, the surplus on goods and services rose $5,315m (54%) from $9,803m in the December quarter 2013 to $15,118m in the March quarter 2014. This is expected to contribute 1.4 percentage points to growth in the March quarter 2014 volume measure of GDP.
INTERNATIONAL INVESTMENT POSITION (IIP)
- Australia's net IIP liability position was $850.4b at 31 March 2014, an increase of $11.9b on 31 December 2013. Australia's net foreign debt liability decreased $3.2b to a net liability position of $855.6b. Australia's net foreign equity decreased $15.1b to a net asset position of $5.2b at 31 March 2014.
NOTES
FORTHCOMING ISSUES
| ISSUE (QUARTER) | Release Date |
| June 2014 | 2 September 2014 |
| September 2014 | 2 December 2014 |
| December 2014 | 3 March 2015 |
| March 2015 | 2 June 2015 |
REVISIONS
Since the last issue of this publication data in original terms have been revised back to September quarter 2012. See the
Revisions section for details.
The following goods and services debits components have been revised since the release of the March 2014 issue of
International Trade in Goods and Services, Australia (cat. no. 5368.0):
- capital goods n.e.s. component of goods debits, revised back to September quarter 2013
- legal, accounting, management consulting, public relations and other professional services component of services debits, revised in March quarter 2014
- architectural, engineering and other technical services component of services debits, revised in March quarter 2014.
Data in this issue aligns with the data in the March quarter 2014 issue of
Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) to be released on 4 June 2014.
CHANGES IN THIS ISSUE
As part of the ongoing improvement to the seasonal adjustment of the coal, coke and briquettes goods credits series, an abrupt change to the seasonal pattern has been identified at March quarter 2012 and taken into account. For further details on seasonally adjusted and trend estimates, please see paragraphs 11 to 15 of the
Explanatory Notes.
VALUE ADJUSTMENTS
See the
Value adjustments section for details.
RELATED RELEASES
See the
Related releases section for details.
INQUIRIES
For further information contact Val Tot on Canberra (02) 6252 5540 for balance of payments estimates, and Charles Kauye on Canberra (02) 6252 5541 for international investment estimates.
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