REVISIONS


SUMMARY OF REVISIONS SINCE THE LAST ISSUE OF THIS PUBLICATION

Table 36 summarises revisions, in original current price terms, since the last issue of this publication, for the last three years and six quarters.

Incorporation of the latest survey and administrative data has resulted in revisions to the balance of payments and IIP series. The balance of payments has been revised back to September quarter 2009. In original current price terms, these revisions have:

• increased the 2009-10 current account deficit by $390m
• increased the current account deficit for September quarter 2010 by $470m
• increased the current account deficit for December quarter 2010 by $312m
• increased the current account deficit for March quarter 2011 by $943m.

The international investment position revisions resulted in an increase of $1,724m in Australia's net IIP liability as at 31 March 2011 to a liability position of $782,294m.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates and the incorporation of estimates for the latest quarter.

In seasonally adjusted terms, the revisions decreased the volume deficit on goods and services by $508m (6%) for the March quarter 2011.

Preliminary estimates for goods debits were included in the July 2011 issue of International Merchandise Imports, Australia (cat. no. 5439.0). The goods debits estimates included in this publication reflect recently obtained information and differ from the preliminary estimates. The preliminary goods debits chain volume estimate for June quarter 2011 was an increase of 3.6% and is an increase of 3.4% in this issue. The implicit price deflator is unchanged.