5368.0 - International Trade in Goods and Services, Australia, Apr 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/06/2013   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a surplus of $445m in April 2013, an increase of $273m (159%) on the surplus in March 2013.

In seasonally adjusted terms, the balance on goods and services was a surplus of $28m in April 2013, a decrease of $527m (95%) on the surplus in March 2013.


EXPORTS OF GOODS AND SERVICES

Between March and April 2013, the trend estimate of goods and services credits rose $111m to $25,648m.

In seasonally adjusted terms, goods and services credits fell $302m (1%) to $25,419m. Non–rural goods fell $463m (3%) and net exports of goods under merchanting fell $7m (37%). Non–monetary gold rose $138m (12%) and rural goods rose $64m (2%). Services credits fell $34m (1%).


Exports of goods

GOODS CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Credits


RURAL GOODS

In trend terms, exports of rural goods rose $31m (1%) to $3,092m.

In seasonally adjusted terms, exports of rural goods rose $64m (2%) to $3,154m.

The main component contributing to the rise in seasonally adjusted estimates was other rural, up $121m (9%).

Partly offsetting this rise was cereal grains and cereal preparations, down $57m (7%).

NON–RURAL GOODS

In trend terms, exports of non–rural goods rose $104m (1%) to $16,969m.

In seasonally adjusted terms, exports of non–rural goods fell $463m (3%) to $16,622m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • other mineral fuels, down $191m (9%)
  • coal, coke and briquettes, down $174m (5%)
  • other non–rural (incl. sugar and beverages), down $71m (8%).

For price and volume details, see the Selected commodities section

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting fell $1m (6%) to $16m.

In seasonally adjusted terms, net exports of goods under merchanting fell $7m (37%) to $12m.

NON–MONETARY GOLD

In trend terms, exports of non–monetary gold fell $27m (2%) to $1,225m.

In original and seasonally adjusted terms, exports of non–monetary gold rose $138m (12%) to $1,307m.


Exports of services
SERVICES CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Credits


In trend terms, services credits rose $6m to $4,347m.

In seasonally adjusted terms, services credits fell $34m (1%) to $4,324m.

The main component contributing to the fall in seasonally adjusted estimates was travel, down $32m (1%).

In seasonally adjusted terms, tourism related services credits fell $42m (2%) to $2,752m.


IMPORTS OF GOODS AND SERVICES

Between March and April 2013, the trend estimate of goods and services debits fell $161m (1%) to $25,204m.

In seasonally adjusted terms, goods and services debits rose $225m (1%) to $25,391m. Capital goods rose $733m (16%) and non–monetary gold rose $67m (18%). Intermediate and other merchandise goods fell $354m (4%) and consumption goods fell $327m (6%). Services debits rose $107m (2%).


Imports of goods
GOODS DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Debits


CONSUMPTION GOODS

In trend terms, imports of consumption goods fell $45m (1%) to $5,737m.

In seasonally adjusted terms, imports of consumption goods fell $327m (6%) to $5,500m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • consumption goods n.e.s., down $146m (8%)
  • non–industrial transport equipment, down $90m (6%)
  • food and beverages, mainly for consumption, down $49m (5%).

CAPITAL GOODS

In trend terms, imports of capital goods fell $100m (2%) to $4,959m.

In seasonally adjusted terms, imports of capital goods rose $733m (16%) to $5,322m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • civil aircraft and confidentialised items, up $303m (167%)
  • capital goods n.e.s., up $254m (29%)
  • industrial transport equipment n.e.s., up $104m (15%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods fell $34m to $8,838m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $354m (4%) to $8,761m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • processed industrial supplies n.e.s., down $213m (9%)
  • iron and steel, down $77m (21%)
  • other parts for capital goods, down $73m (6%).

NON–MONETARY GOLD

In trend terms, imports of non–monetary gold rose $13m (4%) to $373m.

In original and seasonally adjusted terms, imports of non–monetary gold rose $67m (18%) to $434m.


Imports of services
SERVICES DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits


In trend terms, services debits rose $6m to $5,297m.

In seasonally adjusted terms, services debits rose $107m (2%) to $5,374m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • travel, up $72m (3%)
  • other services, up $22m (1%).

In seasonally adjusted terms, tourism related services debits rose $84m (3%) to $2,802m.


Selected commodities

Selected commodities, Quantity and unit value analysis: International merchandise trade basis (a) – Original terms

Change in
Nov 2012
Dec 2012
Jan 2013
Feb 2013
Mar 2013
Apr 2013
%
%
%
%
%
%

Iron ore

Lump
Quantity
–2
19
–16
–12
22
8
Unit value
3
1
15
4
3
Fines
Quantity
–3
23
–19
–4
17
–1
Unit value
7
3
14
8
–1
–1

Coal

Hard coking
Quantity
20
8
–15
–4
–4
11
Unit value
–7
1
3
3
–2
Semi–soft
Quantity
15
8
–15
–5
32
–19
Unit value
–9
2
2
2
1
1
Thermal
Quantity
–16
21
–9
–14
–6
17
Unit value
–5
–3
1
–1
–3

– nil or rounded to zero (including null cells)
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.


On an international merchandise trade basis, in original terms (noting the footnote in the above table), between March and April 2013 the largest movements recorded for the following selected commodities were:

Iron ore lump rose $158m (11%), with quantities up 8% and unit values up 3%.
Exports to:
  • Japan rose $81m (33%), with quantities up 12% and unit values up 19%
  • China rose $80m (8%), with quantities up 10% and unit values down 2%.

Iron ore fines fell $80m (2%), with quantities down 1% and unit values down 1%.
Exports to:
  • China fell $208m (6%), with quantities down 3% and unit values down 4%
  • Japan rose $67m (14%), with unit values up 15%
  • Taiwan rose $56m (75%), with quantities up 86% and unit values down 6%.

Hard coking coal rose $100m (9%), with quantities up 11% and unit values down 2%. Exports to the United Kingdom rose $74m (100%) with quantities up 100%.

Semi–soft coal fell $122m (18%), with quantities down 19% and unit values up 1%. Exports to:
  • China fell $75m (40%), with quantities down 39% and unit values down 1%
  • the Republic of Korea fell $53m (50%), with quantities down 50% and unit values down 1%.

Thermal coal rose $156m (14%), with quantities up 17% and unit values down 3%. Exports to:
  • China rose $82m (46%), with quantities up 46%
  • Japan rose $57m (11%), with quantities up 14% and unit values down 3%.


COUNTRY BREAKDOWN

The following charts show Australia's major trading partners for the calendar year 2012. The charts include both trade in goods (on an international merchandise trade basis) and trade in services (on a balance of payments basis). The first chart shows the countries with the largest two–way trade, i.e., combined trade in both exports and imports of goods and services. The second chart shows total exports and total imports separately for the same ten countries.

TOTAL VALUE OF TWO–WAY TRADE, By major countries – 2012, Percentage share
Graph: TOTAL VALUE OF TWO–WAY TRADE, By major countries – 2012, Percentage share


EXPORTS AND IMPORTS OF GOODS AND SERVICES, By major countries – 2012
Graph: EXPORTS AND IMPORTS OF GOODS AND SERVICES, By major countries – 2012


Combining trade in goods (on an international merchandise trade basis) and trade in services (on a balance of payments basis) provides a good approximation of total trade. Some components will be excluded (e.g. Merchanting credits and Goods procured in ports by carriers debits). The Manufacturing services on physical inputs owned by others component country information is already available in the Goods estimates and is therefore not included in the Services estimates to avoid double counting. These components are unlikely to impact on the broad analysis.

Imports data with the confidentiality restrictions 'no commodity details' or 'no value details' are excluded from the individual country and included in 'no country details' in the detailed breakdown presented in the time series spreadsheet table 14b. In 2012, these restrictions represented 2% of the total imports value, however this figure does vary across individual countries. In table 14 of this publication, the 'no country details' data is included in 'other countries'.