Balance of Payments and International Investment Position: December 2008 quarter

Highlights

For the year ended December 2008, the current account deficit was 8.9 percent of GDP. This compares with a deficit of 8.6 percent of GDP for the year ended September 2008. The seasonally adjusted current account deficit was $3,772 million in the December 2008 quarter, compared with a September 2008 quarter deficit of $4,008 million.		At 31 December 2008, net overseas liabilities of $167.7 billion were $15.1 billion (9.9 percent) larger than at 31 December 2007. Net international debt increased 14.0 percent from 31 December 2007, while net equity liabilities fell 26.1 percent.

Geoff Bascand	26 March 2009
Government Statistician	ISSN 1178-0215