Balance of Payments and International Investment Position: December 2008 quarter

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.