INTRODUCTION
1 This publication presents results in respect of 31 March 2005, from an ABS survey of Australian enterprises with exposure to foreign currency. This is the second occasion this survey has been conducted; the first was conducted in respect of 30 June 2001 and conducted as a supplementary survey to the Survey of International Investment. Results were published in the December quarter 2001 issue of Balance of Payments and International Investment Position, (Cat. no. 5302.0).
SCOPE
2 The scope of the survey was all resident enterprises with significant foreign currency exposure through foreign currency denominated balance sheet positions and/or expected foreign currency denominated receipts and payments from the trade of goods and services. This included government and private institutions, primarily financial corporations, importers and exporters. The results for 31 March 2005 included expected foreign currency receipts and payments from trade, which were out of scope for the previous collection.
COVERAGE
3 The survey population was designed to include those enterprises that would cover approximately 90 per cent of foreign currency exposure for assets and liabilities, and was supplemented with a selection of significant importers and exporters with foreign currency denominated trade in goods and/or services.
COVERAGE CHANGES
4 The coverage for this survey was increased when compared to the June 2001 survey, to include 100 per cent coverage of banks, with the total number of providers increasing from 232 in June 2001 to 538 in March 2005. This causes estimates from this survey to not be directly comparable with those from the June 2001 survey.
INSTITUTIONAL SECTORS AND SUBSECTORS
5 The institutional sectors are based on the Standard Economic Sectors Classifications of Australia 1998 (cat. no. 1218.0) and are the same as the sectors used in national income and expenditure accounts.
6 The basic unit that is classified by sector is the institutional unit, which is defined as an economic entity that is capable, in its own right, of incurring liabilities and engaging in economic activities and transactions with other entities.
STATISTICAL UNIT
7 The unit for which statistics were reported in the survey was the Australian enterprise unit. This consists of all the entities within an Australian enterprise group that are in the same SISCA subsector.
REFERENCE PERIOD
8 Data contained in this publication relate to foreign currency denominated financial positions (balance sheet) and expected foreign currency denominated receipts and payments from trade collected from selected enterprises as at 31 March 2005.
ACCURACY AND RELIABILITY
9 Care should be exercised in the use and interpretation of data in this publication. While every effort is made to ensure the accuracy and reliability of data it is still possible that the variability within data can be significant.
10 Responses were received from 91.0% of the surveyed enterprises.
11 Some estimation has been made for foreign currency denominated receipts and payments. The data was benchmarked to foreign currency receipts and payments for trade in goods and services for the period 1 April 2005 to 30 June 2005 as published in International Trade in Goods and Services (cat. no. 5368.0). This benchmarking particularly affected estimates of expected payments.
ROUNDING
12 Where figures have been rounded, a discrepancy may occur between the sum of the component items and the total. Published percentages are calculated prior to rounding of figures and therefore a discrepancy may occur between the published percentages and percentages which could be calculated using the published estimates.
SIGN CONVENTION
13 Contrary to the balance of payments conventions, this publication uses the natural sign convention in the presentation of data, analysis and associated commentary.
CURRENCY CONVERSION
14 Data are expressed in Australian dollars. Amounts denominated in a foreign currency are converted to Australian currency at the market exchange rate at the reference date.
VALUATION BASIS
15 In these statistics all asset and liability positions are valued at market prices.
16 The principal value is reported for all financial derivative currency contracts. The principal of a derivative contract is the underlying nominal amount upon which the transaction is based.
FURTHER INFORMATION
17 A wide range of analyses are possible with the data collected. The full set of output tables is available on AusStats.
ACKNOWLEDGEMENT
18 ABS publications draw extensively on information provided freely by individuals, businesses, governments and other organisations. Their continued cooperation is much appreciated; without it, the wide range of statistics published by the ABS would not be available. Information received by the ABS is treated in strict confidence as required by the Census and Statistics Act 1905.
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