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5368.0 - International Trade in Goods and Services, Australia, Aug 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/10/2011   
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AUGUST KEY FIGURES

Jun 2011
Jul 2011
Aug 2011
Jul 11 to Aug 11
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
2 107
2 356
2 656
. .
Seasonally adjusted
2 022
1 817
3 100
. .
CREDITS (Exports of goods & services)
Trend estimates
26 552
27 061
27 536
2
Seasonally adjusted
26 445
26 265
28 366
8
DEBITS (Imports of goods & services)
Trend estimates
24 445
24 705
24 880
1
Seasonally adjusted
24 423
24 448
25 266
3

. . not applicable

Balance on Goods and Services
Graph: Graph This graph show the Balance on Goods and Services for the Trend and Seasonally adjusted series



AUGUST KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $2,656m in August 2011, a rise of $300m on the surplus in July 2011.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $3,100m in August 2011, a rise of $1,283m on the surplus in July 2011.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $2,101m (8%) to $28,366m. Non-rural goods rose $1,547m (9%), non-monetary gold rose $392m (30%) and rural goods rose $165m (6%). Net exports of goods under merchanting remained steady at $4m. Services credits fell $2m.


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $818m (3%) to $25,266m. Intermediate and other merchandise goods rose $610m (7%), consumption goods rose $167m (3%) and non-monetary gold rose $6m (1%). Capital goods fell $122m (3%). Services debits rose $156m (3%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
September 2011 8 November 2011
October 2011 12 December 2011
November 2011 5 January 2012
December 2011 2 February 2012
January 2012 9 March 2012
February 2012 4 April 2012



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services:
  • on a recorded trade basis:
      • international merchandise exports have been revised back to January 2011
      • international merchandise imports have been revised back to February 2011.
  • on a balance of payments basis, goods and services have been revised back to July 1981.

Table 17 summarises historical revisions to goods and services on a balance of payments basis, in original current price terms. In original terms, the revisions have:
  • decreased the deficit on goods and services for 2006-07 by $1,604m
  • decreased the deficit on goods and services for 2007-08 by $499m
  • decreased the surplus on goods and services for 2008-09 by $269m
  • increased the deficit on goods and services for 2009-10 by $644m
  • increased the surplus on goods and services for 2010-11 by $35m
  • decreased the surplus on goods and services for July 2011 by $45m.

Seasonally adjusted and trend series have been revised due to the incorporation of the revisions and estimates for the latest month including the annual seasonal re-analysis and the derivation of seasonal factors under the concurrent seasonal adjustment methodology.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals', 'coal, coke and briquettes' and 'capital goods n.e.s.' components in the balance of payments series. See Commodity value adjustment for details.


CHANGES IN THIS ISSUE

The seasonally adjusted and trend estimates of goods and services on a balance of payments basis have been revised as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the monthly processing cycle and assesses the appropriateness of any prior corrections.


TRADE IN SERVICES DATA CUBES

The data cube International Trade in Services by Country, by State and by Detailed Services Category, Financial Year, 2010-11 (cat. no. 5368.0.55.003) will be released on 11 November 2011.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.


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