Australia's Q4 BoP current account balance largely in line with expectations
|Australia's BoP current account balance for Q4 came at -3.9 billion AUD vs -4.0bn AUD exp and -11.4bn AUD last. As per the 'net exports as a % of GDP' for Q4, it came in line with expectations at +0.2% vs -0.2% last.
DEC KEY POINTS
BALANCE OF PAYMENTS
The current account deficit, seasonally adjusted, fell $6,348m (62%) to $3,853m in the December quarter 2016. There was a turnaround of $8,205m on the balance on goods and services, resulting in a surplus of $4,667m in the December quarter 2016. The primary income deficit rose $1,843m (30%) to $8,081m.
In seasonally adjusted chain volume terms, the surplus on goods and services rose $700m (49%) from $1,424m in the September quarter 2016 to $2,124m in the December quarter 2016. This is expected to contribute 0.2 percentage points to growth in the December quarter 2016 volume measure of GDP.
INTERNATIONAL INVESTMENT POSITION (IIP)
Australia's net IIP liability position was $1,021.6b at 31 December 2016, a decrease of $19.8b (2%) on the revised 30 September 2016 position of $1,041.4b. Australia's net foreign debt liability decreased $25.6b (2%) to a net liability position of $1,023.1b. Australia's net foreign equity asset decreased $5.8b (80%) to a net asset position of $1.4b at 31 December 2016.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.