5302.0 - Balance of Payments and International Investment Position, Australia, Sep 2011 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2011   
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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 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 1981. In original current price terms, these revisions have:

  • decreased the 2006-07 current account deficit by $278m
  • decreased the 2007-08 current account deficit by $1,382m
  • decreased the 2008-09 current account deficit by $1,508m
  • increased the 2009-10 current account deficit by $2,727m
  • decreased the 2010-11 current account deficit by $337m
  • increased the current account deficit for September quarter 2010 by $699m
  • decreased the current account deficit for December quarter 2010 by $100m
  • increased the current account deficit for March quarter 2011 by $26m
  • decreased the current account deficit for June quarter 2011 by $961m.

The international investment position has been revised back to September quarter 2007. The revisions resulted in an increase of $16,530m in Australia's net IIP liability as at 30 June 2011 to a liability position of $797,651m.

Full detailed revisions in time series are available in table 36. Summary of revisions for this publication from the 'Download' tab of this issue.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates, the incorporation of estimates for the latest quarter, the annual seasonal re-analysis and the rederivation of seasonal factors under the concurrent seasonal adjustment methodology. For details on the seasonal re-analysis see Seasonally adjusted and trend estimates.

Chain volume estimates, implicit price deflators and terms of trade indexes have been revised as a result of the incorporation of revised estimates and seasonal factors, the introduction of a new reference year and the introduction of revised weights for goods credits. For details see Chain volume estimates, implicit price deflators and terms of trade indexes.