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MARCH KEY FIGURES

			Dec Qtr 2015	Mar Qtr 2016	Dec Qtr 2015 to Mar Qtr 2016
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-20 627	-19 131	7
	Seasonally adjusted		-22 631	-20 794	8
BALANCE ON GOODS AND SERVICES
	Trend estimates		-9 865	-9 237	6
	Seasonally adjusted		-10 938	-8 114	26
NET PRIMARY INCOME
	Trend estimates		-10 165	-9 303	8
	Seasonally adjusted		-11 105	-12 084	-9
LEVELS AT END OF PERIOD
	International Investment Position		960 795	1 012 148	5
		Net foreign equity	-57 892	-15 696	73
		Net foreign debt	1 018 687	1 027 844	1

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, decreased $1,837m (8%) to $20,794m in the March quarter 2016. The deficit on the balance of goods and services decreased $2,824m (26%) to $8,114m. The primary income deficit increased $979m (9%) to $12,084m.
• In seasonally adjusted chain volume terms, the surplus on goods and services increased $4,731m (60%) from $7,880m in the December quarter 2015 to $12,611m in the March quarter 2016. This is expected to contribute 1.1 percentage points to growth in the March quarter 2016 volume measure of GDP.

• Australia's net IIP liability position was $1,012.1b at 31 March 2016, an increase of $51.4b (5%) on the revised 31 December 2015 position of $960.8b. Australia's net foreign debt liability increased $9.2b (1%) to a net liability position of $1,027.8b. Australia's net foreign equity asset decreased $42.2b (73%) to a net asset position of $15.7b at 31 March 2016.