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INTERNATIONAL ACCOUNTS

OBJECTIVES

The International Accounts program provides statistics on Australia's balance of payments, international investment position, merchandise trade and international trade in services. The statistics are compiled from a range of surveys and administrative data sources with merchandise trade statistics derived from records lodged with the Australian Border Force.

The main users of International Accounts data are economic and industry analysts and policy advisers in Australian government agencies; private sector economic analysts and dealers; academics; the media; and international organisations. Australian government agencies that are extensive data users include the Department of the Treasury; the Reserve Bank of Australia; the Productivity Commission; Austrade; and the departments of: Foreign Affairs and Trade; Prime Minister and Cabinet; and Industry and Science.

The statistics are used to analyse Australia's external performance, formulate and evaluate macroeconomic policy (including trade policy, trade treaties and foreign investment policy), analyse trends in income, capital flows and patterns of investment into and out of the economy, and undertake international comparisons. The International Accounts are inputs to the Australian National Accounts, providing the external transactions accounts and the external assets and liabilities components of the national balance sheet.

OUTPUTS

The program produces a range of statistical publications, classifications and methodological information. The key outputs include:

• Balance of Payments and International Investment Position, Australia (cat. no. 5302.0), which presents a comprehensive set of International Accounts statistics including chain volume measures for trade in goods and services and seasonally adjusted data for the current account
• International Trade in Goods and Services, Australia (cat. no. 5368.0), which provides monthly information on exports and imports of goods and services on a balance of payments basis as well as information on merchandise exports and imports on a recorded trade basis
• International Merchandise Imports, Australia (cat. no. 5439.0), which provides summary information on Australia's merchandise imports for the latest reference month, on a recorded trade basis
• Australian Harmonised Export Commodity Classification (cat. no. 1233.0)
• International Trade in Services by Country, by State and by Detailed Services Category, Calendar Year (cat. no. 5368.0.55.004)
• International Trade in Services by Country, by State and by Detailed Services Category, Financial Year (cat. no. 5368.0.55.003)
• International Investment Position, Australia: Supplementary Statistics (cat. no. 5352.0), which provides calendar year international investment position, financial account and primary income data by partner country, and international investment position and financial account data by industry for direct investment.
  

• review the International Accounts statistical outputs to ensure the information produced remains relevant for policy decisions - due September 2015
• expand and release the International Accounts Concepts, Sources and Methods (cat. no. 5331.0) - due June 2016
• release the international Trade in Services Concepts, Sources and Methods - due December 2016
• implement the Harmonised System 2017 update for merchandise trade - due February 2017.