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5368.0 - International Trade in Goods and Services, Australia, Feb 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/04/2014   
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FEBRUARY KEY FIGURES

Dec 2013
Jan 2014
Feb 2014
Jan 14 to Feb 14
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
520
921
1 229
33
Seasonally adjusted
469
1 392
1 200
-14
CREDITS (Exports of goods and services)
Trend estimates
28 638
29 202
29 677
2
Seasonally adjusted
28 636
29 850
29 970
-
DEBITS (Imports of goods and services)
Trend estimates
28 119
28 281
28 448
1
Seasonally adjusted
28 167
28 458
28 770
1

- nil or rounded to zero (including null cells)

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



FEBRUARY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a surplus of $1,229m in February 2014, an increase of $308m (33%) on the surplus in January 2014.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $1,200m in February 2014, a decrease of $192m (14%) on the surplus in January 2014.


CREDITS (EXPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $120m to $29,970m. Non-rural goods rose $420m (2%). Net exports of goods under merchanting remained steady at $15m. Rural goods fell $157m (4%) and non-monetary gold fell $133m (10%). Services credits fell $10m.


DEBITS (IMPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $312m (1%) to $28,770m. Capital goods rose $791m (15%) and non-monetary gold rose $109m (43%). Intermediate and other merchandise goods fell $531m (5%) and consumption goods fell $58m (1%). Services debits rose $3m.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2014 6 May 2014
April 2014 5 June 2014
May 2014 2 July 2014
June 2014 5 August 2014
July 2014 4 September 2014
August 2014 2 October 2014



REVISIONS

Revisions have been made to incorporate the latest data relating to international trade in goods and services since the last issue of this publication:
  • on an international merchandise trade basis, exports and imports have been revised back to August 2013
  • on a balance of payments basis revisions have been applied to:
      • goods credits back to July 2013
      • goods debits back to March 2013
      • services credits and debits back to July 2012.

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have:
  • increased the deficit on goods and services for 2012-13 by $689m
  • increased the deficit on goods and services for the seven months to January 2014 by $1,362m.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals' and 'capital goods n.e.s.' components in the balance of payments series.

See the Value adjustments section for details.


INQUIRIES

For further information contact Val Tot on Canberra (02) 62525540 for Goods, and Lauren Binns on Hobart (03) 6222 5926 for Services.


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Commonwealth of Australia 2014

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