Latest Australian Bureau of Statistics (ABS) figures show that in seasonally adjusted, current price terms, the current account deficit decreased $6,249m (42 per cent) to $8,510m in the March quarter 2013. Exports of goods and services rose $2,450m (3 per cent) and imports of goods and services fell $3,130m (4 per cent). The primary income deficit fell $681m (7 per cent).

In seasonally adjusted, chain volume terms, the net goods and services surplus rose $3,657m (84 per cent) to $8,028m in the March quarter 2013. This is expected to contribute 1.0 percentage points to growth in the March quarter 2013 volume measure of Gross Domestic Product.

Australia's net International Investment Position (IIP) liability position was $877.1b at 31 March 2013, an increase of $12.8b on the 31 December 2012 liability position of $864.3b. Australia's net foreign equity liability increased $6.5b to a liability position of $113.5b. Australia's net foreign debt liability increased $6.3b to a liability position of $763.6b.