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MARCH KEY FIGURES

			Dec Qtr 2014	Mar Qtr 2015	Dec Qtr 2014 to Mar Qtr 2015
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-11 116	-10 138	9
	Seasonally adjusted		-10 239	-10 741	-5
BALANCE ON GOODS AND SERVICES
	Trend estimates		-3 545	-3 083	13
	Seasonally adjusted		-2 707	-3 701	-37
NET PRIMARY INCOME
	Trend estimates		-7 024	-6 520	7
	Seasonally adjusted		-6 959	-6 525	6
LEVELS AT END OF PERIOD
	International Investment Position		866 708	878 376	1
		Net foreign equity	-60 388	-76 296	-26
		Net foreign debt	927 097	954 672	3

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, rose $502m (5%) to $10,741m in the March quarter 2015. The deficit on the balance of goods and services rose $994m (37%) to $3,701m in the March quarter 2015. The primary income deficit fell $434m (6%) to $6,525m.
• In seasonally adjusted chain volume terms, the surplus on goods and services rose $1,816m (24%) from $7,457m in the December quarter 2014 to $9,273m in the March quarter 2015. This is expected to contribute 0.5 percentage points to growth in the March quarter 2015 volume measure of GDP.

• Australia's net IIP liability position was $878.4b at 31 March 2015, an increase of $11.7b (1%) on the 31 December 2014 position of $866.7b. Australia's net foreign debt liability increased $27.6b (3%) to a net liability position of $954.7b. Australia's net foreign equity increased $15.9b (26%) to a net asset position of $76.3b at 31 March 2015.