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5302.0 - Balance of Payments and International Investment Position, Australia, Dec 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/03/2015   
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FEATURE ARTICLE: QUARTERLY STATE DATA ON A BALANCE OF PAYMENTS BASIS


INTRODUCTION

This article has been produced in response to user interest in goods and services data on a balance of payments basis at the individual state level. Time series have been compiled for current prices and chain volume measures for goods and services imports by state of final destination and for goods and services exports by state of origin or port of loading. The data are experimental and the ABS would appreciate receiving any feedback from stakeholders to improve its usability.


BACKGROUND

Balance of payments goods and services data are currently compiled from international merchandise trade and international trade in services statistics collected from the Australian Customs and Border Protection Service (Customs and Border Protection) and the Survey of International Trade in Services. While international merchandise trade statistics record the physical movement of goods across the customs frontier, the balance of payments records transactions on a change of ownership basis. Consistent with international statistical standards for balance of payments compilation, the ABS applies a series of adjustments to international merchandise trade data at the commodity level, to ensure transactions are correctly recorded in terms of timing and coverage on a balance of payments basis.

State data are currently available on a monthly basis for international merchandise trade in the publication International Trade in Goods and Services, Australia (cat. no. 5368.0) and for international trade in services on an annual basis in the publications International Trade in Services by Country, by State and by Detailed Services Category, Financial Year (cat. no. 5368.0.55.003) and International Trade in Services by Country, by State and by Detailed Services Category, Calendar Year (cat. no. 5368.0.55.004). These data are the primary source for balance of payments state statistics.


METHOD OF DERIVATION

In order to compile goods and services state statistics on a balance of payments basis, a number of derivations are required:

Goods

  • Exports are allocated to the state of origin where this information is available as reported to Customs and Border Protection. For re-exports, that is, exports of goods which have been previously imported and have not undergone significant change, state allocation is based on the port of loading. Imports are allocated to the state of final destination where this information is available as reported to Customs and Border Protection.
  • Adjustments for which there is no specific state information but that demonstrate obvious patterns of trade are allocated based on the underlying international merchandise trade state data. For example, balance of payments exports can include adjustments to the values of iron ore and coal to account for updated unit price information as it becomes available. These adjustments are applied based on the proportional value of international merchandise trade exports of coal and iron ore for each state.
  • Where there is sufficient information to allocate adjustments to a specific state these are applied directly to that state. For example, a number of coverage adjustments are made to capture imports of capital goods that do not cross the customs frontier and are not recorded in international merchandise trade statistics. These transactions are investigated independently and allocated to the state of final destination in the relevant time period.
  • Adjustments that are modelled on data that do not have origin and destination information available, such as the Low Value Threshold adjustment, are proportionally allocated across the states by the estimated resident population of each state in the relevant time period, which is obtained from the quarterly publication Australian Demographic Statistics (cat. no. 3101.0).

Services

International trade in services data are sourced from the quarterly Survey of International Trade in Services and a range of administrative and indicator series. Services credits (exports) are allocated by state of provision and services debits (imports) are allocated by state of consumption. The state allocation of services components is either based on indicators including international merchandise trade statistics, household final consumption expenditure, overseas passenger arrivals and departures by state of clearance and data provided by the Department of Immigration and Border Protection or based on the location of the business reporting the information.

Current Price, Goods and Services by State on a Balance of Payments basis: Original

Sep Qtr 2013
Dec Qtr 2013
Mar Qtr 2014
Jun Qtr 2014
Sep Qtr 2014
Dec Qtr 2014

Goods and services credits ($m)

Australia Total
82 618
84 869
83 140
80 438
80 731
82 412
New South Wales
17 040
17 278
16 411
16 279
17 269
17 541
Victoria
9 983
9 971
9 928
10 444
10 257
10 815
Queensland
14 765
14 816
13 172
13 764
14 068
15 397
South Australia
3 688
3 768
3 952
3 827
3 542
3 632
Western Australia
33 780
35 529
36 319
32 725
32 374
31 516
Tasmania
np
np
np
np
np
np
Northern Territory
np
np
np
np
np
np
Australian Capital Territory
338
336
333
315
374
371

Goods and services debits ($m)

Australia Total
-87 679
-87 773
-80 336
-82 836
-86 317
-86 990
New South Wales
-31 289
-32 008
-28 809
-29 674
-31 798
-33 568
Victoria
-21 937
-22 157
-20 448
-21 271
-21 951
-22 239
Queensland
-14 910
-14 359
-13 566
-12 910
-14 022
-12 944
South Australia
-3 068
-2 880
-2 774
-3 014
-2 817
-2 865
Western Australia
np
np
np
np
np
np
Tasmania
-380
-354
-350
-369
-476
-330
Northern Territory
np
np
np
np
np
np
Australian Capital Territory
-480
-486
-444
-482
-500
-501

np not available for publication but included in totals where applicable, unless otherwise indicated


Chain Volume Measures

Chain volume measures provide analysis of the state series without the effects of price changes. These measures are derived by deflating current price data by relevant price indexes. For the purposes of this feature article state chain volume measures have been derived using national level price deflators. Depending on user interest in state data the ABS may investigate the possibility of using state weighted deflators to derive chain volume measures in the future.

Chain Volume Measures, Goods and Services by State on a Balance of Payments basis: Original

Sep Qtr 2013
Dec Qtr 2013
Mar Qtr 2014
Jun Qtr 2014
Sep Qtr 2014
Dec Qtr 2014

Goods and services credits ($m)

Australia Total
79 072
81 368
77 936
81 475
85 114
87 212
New South Wales
16 541
16 740
15 556
15 915
16 917
17 145
Victoria
9 361
9 213
8 935
9 436
9 249
9 624
Queensland
14 968
15 196
13 300
14 916
15 295
16 176
South Australia
3 523
3 567
3 582
3 566
3 227
3 469
Western Australia
31 548
33 551
33 844
34 738
37 754
35 865
Tasmania
np
np
np
np
np
np
Northern Territory
np
np
np
np
np
np
Australian Capital Territory
332
327
323
307
365
360

Goods and services debits ($m)

Australia Total
-81 964
-82 291
-73 098
-77 558
-81 029
-80 253
New South Wales
-29 232
-30 108
-26 282
-27 795
-29 827
-30 600
Victoria
-20 454
-20 655
-18 464
-19 728
-20 436
-20 354
Queensland
-13 927
-13 347
-12 248
-12 002
-13 121
-12 144
South Australia
-2 856
-2 698
-2 524
-2 814
-2 639
-2 637
Western Australia
np
np
np
np
np
np
Tasmania
-352
-332
-317
-342
-446
-296
Northern Territory
np
np
np
np
np
np
Australian Capital Territory
-442
-447
-396
-437
-453
-440

np not available for publication but included in totals where applicable, unless otherwise indicated



Confidentiality

Commodities with confidentiality restrictions 'no state details' and 'no commodity details' have been added back in to the relevant state of origin or final destination to provide the most comprehensive view of state data at the total level. State totals are therefore only published if they do not breach confidentiality. For this reason the exports series for Tasmania and the Northern Territory are not published. The imports series for Western Australia and the Northern Territory are also not published.


Further Information

Balance of Payments and International Investment Position, Australia: Concepts, Sources and Methods, 2011 (cat. no. 5331.0).

The ABS invites users to comment on the provided data series and outlined methodology by contacting Val Tot via email at val.tot@abs.gov.au.


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