5302.0 - Balance of Payments and International Investment Position, Australia, June 2012 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2012   
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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 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 2010. In original current price terms, these revisions have:

  • decreased the 2010-11 current account deficit by $335m
  • decreased the current account deficit for September quarter 2011 by $117m
  • increased the current account deficit for December quarter 2011 by $243m
  • decreased the current account deficit for March quarter 2012 by $1,046m.

The financial account and international investment position have been revised back to September quarter 2010, resulting in an increase of $4,459m in Australia's net IIP liability as at 31 March 2012 to a liability position of $884,672m.

The full time series for the revisions are available in Table 36, Summary of revisions, from the 'Download' tab of this issue.

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 $129m (1%) for the March quarter 2012.