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MARCH KEY FIGURES

			Dec Qtr 2012	Mar Qtr 2013	Dec Qtr 2012 to Mar Qtr 2013
			$m	$m	% change
BALANCE ON CURRENT ACCOUNT
	Trend estimates		-12 811	-11 241	12
	Seasonally adjusted		-14 759	-8 510	42
BALANCE ON GOODS AND SERVICES
	Trend estimates		-3 574	-2 061	42
	Seasonally adjusted		-5 211	367	(a). .
NET PRIMARY INCOME
	Trend estimates		-8 915	-8 857	1
	Seasonally adjusted		-9 229	-8 548	7
LEVELS AT END OF PERIOD
	International Investment Position		864 282	877 075	1
		Net foreign equity	106 997	113 498	6
		Net foreign debt	757 284	763 578	1
. . not applicable
(a) See paragraph 5 of the Explanatory Notes.

Current Account Balance (a), Main aggregates

International Investment

• The current account deficit, seasonally adjusted, fell $6,249m (42%) to $8,510m in the March quarter 2013. There was a turnaround of $5,578m on the balance on goods and services, resulting in a surplus of $367m in the March quarter 2013. The primary income deficit fell $681m (7%) to $8,548m.
• In seasonally adjusted chain volume terms, the surplus on goods and services rose $3,657m (84%) from $4,371m in the December quarter 2012 to $8,028m in the March quarter 2013. This is expected to contribute 1.0 percentage points to growth in the March quarter 2013 volume measure of GDP.

• Australia's net IIP liability position was $877.1b at 31 March 2013, an increase of $12.8b on 31 December 2012. Australia's net foreign equity liability increased $6.5b to a liability position of $113.5b. Australia's net foreign debt liability increased $6.3b to a liability position of $763.6b.

• capital goods n.e.s. component of goods debits series, revised in the June and September quarters 2012 and March quarter 2013
• architectural, engineering and other technical services component of services debits, revised back to June quarter 2012
• legal, accounting, management consulting, public relations and other professional services component of services debits, revised in March quarter 2013.