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MARCH KEY FIGURES

			Dec Qtr 2017	Mar Qtr 2018	Dec Qtr 2017 to Mar Qtr 2018
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-12 670	-12 229	3
	Seasonally adjusted		-14 661	-10 469	29
BALANCE ON GOODS AND SERVICES
	Trend estimates		1 102	1 796	63
	Seasonally adjusted		-1 022	4 083	(a) . .
NET PRIMARY INCOME
	Trend estimates		-13 393	-13 684	-2
	Seasonally adjusted		-13 228	-14 253	-8
LEVELS AT END OF PERIOD
	International Investment Position		988 633	954 554	-3
		Net foreign equity	-35 518	-71 267	-101
		Net foreign debt	1 024 150	1 025 821	-
- nil or rounded to zero (including null cells) . . not applicable (a) See paragraph 17 of the Explanatory Notes.

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, fell $4,192m to $10,469m in the March quarter 2018. There was a turnaround of $5,105m on the balance on goods and services, resulting in a surplus of $4,083m in the March quarter 2018. The primary income deficit rose $1,025m to $14,253m.
• In seasonally adjusted chain volume terms, the deficit on goods and services fell $1,514m from $14,275m in the December quarter 2017 to $12,761m in the March quarter 2018. This is expected to contribute 0.3 percentage points to growth in the March quarter 2018 volume measure of GDP.

• Australia's net IIP liability position was $954.6b at 31 March 2018, a decrease of $34.1b on the revised 31 December 2017 position of $988.6b. Australia's net foreign debt liability increased $1.7b to $1,025.8b. Australia's net foreign equity asset position increased $35.7b to $71.3b at 31 March 2018.