ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services was a surplus of $1,369m in April 2009, a decrease of $138m (9%) on a revised surplus in March 2009.

In seasonally adjusted terms, the balance on goods and services was a deficit of $91m in April 2009, a turnaround of $2,393m on a revised surplus in March 2009.


EXPORTS OF GOODS AND SERVICES

Between March 2009 and April 2009 the trend estimate of goods and services credits fell $578m (2%) to $22,819m.

In seasonally adjusted terms, goods and services credits fell $2,760m (11%) to $21,680m. Non-rural goods fell $1,692m (12%), other goods fell $784m (34%) and rural goods fell $320m (11%). Services credits rose $34m (1%).


Exports of goods

RURAL GOODS

In trend terms, exports of rural goods rose $9m to $2,638m.

In seasonally adjusted terms, export of rural goods fell $320m (11%) to $2,519m.

The main component that contributed to the fall in the seasonally adjusted estimate of rural goods was cereal grains and cereal preparations, down $234m (27%).

In original terms, exports of rural goods fell $455m (15%) to $2,530m.

NON-RURAL GOODS

In trend terms, exports of non-rural goods fell $619m (4%) to $13,490m.

In seasonally adjusted terms, exports of non-rural goods fell $1,692m (12%) to $12,950m.

The main components contributing to the fall in seasonally adjusted estimates were:

• coal, coke and briquettes, down $619m (15%)
• metal ores and minerals, down $430m (10%)
• other non-rural, down $172m (17%)
• other manufactures, down $143m (9%)
• transport equipment, down $135m (33%)
• other mineral fuels, down $133m (9%).

An adjustment has been made to the value of the metal ores and minerals component, for details see: Commodity Prices Adjustment.

In original terms, exports of non-rural goods fell $2,536m (17%) to $12,290m.

OTHER GOODS

In trend terms, exports of other goods rose $12m (1%) to $2,028m.

In seasonally adjusted terms, other goods fell $784m (34%) to $1,541m.

The main component contributing to the fall in seasonally adjusted estimates was non-monetary gold, down $783m (37%).

In original terms, exports of other goods fell $796m (34%) to $1,531m.


Exports of services


In trend terms, services credits rose $19m to $4,663m.

In seasonally adjusted terms, services credits rose $34m (1%) to $4,669m.

All components contributed to the rise in the seasonally adjusted estimates with:

• travel services, up $20m (1%)
• other services, up $12m (1%).

In seasonally adjusted terms, tourism related services credits rose $19m (1%) to $2,990m.


IMPORTS OF GOODS AND SERVICES

Between March 2009 and April 2009 the trend estimate of goods and services debits fell $440m (2%) to $21,450m.

In seasonally adjusted terms, goods and services debits fell $367m (2%) to $21,771m. Other goods fell $463m (35%), capital goods fell $47m (1%) and consumption goods fell $38m (1%). Intermediate and other merchandise goods rose $160m (2%). Services debits rose $20m.


Imports of goods


CONSUMPTION GOODS

In trend terms, imports of consumption goods fell $38m (1%) to $4,954m.

In seasonally adjusted terms, imports of consumption goods fell $38m (1%) to $5,107m.

The main components contributing to the decrease in the seasonally adjusted estimates were:

• food and beverages, mainly for consumption, down $50m (6%)
• textiles, clothing and footwear, down $37m (5%).

These decreases were partly offset by the household electrical items component, up $74m (18%).

In original terms, imports of consumption goods fell $212m (4%) to $4,732m.

CAPITAL GOODS

In trend terms, imports of capital goods fell $71m (2%) to $3,964m.

In seasonally adjusted terms, imports of capital goods fell $47m (1%) to $4,195m.

The components contributing to the decrease in the seasonally adjusted estimates were:

• machinery and industrial equipment, down $273m (16%)
• industrial transport equipment n.e.s., down $93m (22%)
• telecommunications equipment, down $70m (12%).

Partly offsetting these falls was the capital goods n.e.s. component, up $377m (42%).

In original terms, imports of capital goods fell $341m (8%) to $4,008m.

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods fell $259m (4%) to $6,803m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $160m (2%) to $7,125m.

The main components contributing to the increase in the seasonally adjusted estimates were:

• other merchandise goods, up $151m (196%)
• organic and inorganic chemicals, up $65m (19%)
• fuels and lubricants, up $39m (2%)
• iron and steel, up $39m (12%).

Partly offsetting these increases were:

• processed industrial supplies n.e.s., down $60m (3%)
• primary industrial supplies n.e.s., down $46m (33%).

In original terms, imports of intermediate and other merchandise goods fell $66m (1%) to $6,990m.

OTHER GOODS

In trend terms, imports of other goods fell $68m (5%) to $1,262m.

In both original and seasonally adjusted terms, other goods debits fell $463m (35%) to $842m. The main components contributing to this decrease were non-monetary gold, down $305m (32%) and goods for processing, down $165m (99%).


Imports of services


In trend terms, services debits fell $5m to $4,466m.

In seasonally adjusted terms, services debits rose $20m to $4,502m.

The components contributing to the rise in the seasonally adjusted estimates were travel services, up $53m (3%) and other services, up $26m (2%) while transportation services fell $58m (5%).

In seasonally adjusted terms, tourism related services debits rose $38m (2%) to $2,116m.