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Improvement in NIIP % of GDP % of GDP Net international investment position -50 4 Forecast -2 -4 20 ~ +6∞ -55 -60 -65 -70 Forecast -6 -75 -8 -80 -10 1996 1999 2002 2005 2008 2011 2014 2017 2020 -85 Quarterly 2007 2010 2013 2016 2019 2022 Current account Income balance (inc transfers) Goods balance -Services balance -Australia -New Zealand Source: The Treasury 22 22

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