The Australian Bureau of Statistics’ June-quarter balance-of-payments release, published on September 1, put the seasonally adjusted current-account deficit at A$27.2 billion, compared with a revised A$25.4 billion deficit in March. The goods-and-services balance recorded a A$5.1 billion deficit. The ABS reported that imports of goods and services rose 4.0%, while imports of fuels and lubricants increased 42.5%.

At the end of June, Australia’s net international investment position was a net liability of A$638.9 billion, A$122.8 billion lower than the previous quarter. The net foreign equity asset position rose A$186.1 billion to A$847.1 billion, while net foreign debt liabilities rose A$63.3 billion to A$1,486.0 billion. Current-account flows and the investment-position stock are different measures: one records transactions during the quarter, while the other records asset and liability levels at period end.