5368.0 - International Trade in Goods and Services, Australia, Apr 2017 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 08/06/2017   
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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 $3,224m in April 2017, a decrease of $70m (2%) on the surplus in March 2017.

In seasonally adjusted terms, the balance on goods and services was a surplus of $555m in April 2017, a decrease of $2,614m (82%) on the surplus in March 2017.

GOODS AND SERVICES SUMMARY(a), Seasonally Adjusted and Trend

Change in:
Feb 2017
Mar 2017
Apr 2017
Apr 2017
Apr 2017
$m
$m
$m
$m
%

Seasonally Adjusted

BALANCE on goods and services
3 737
3 169
555
-2 614
-82
CREDITS
Total goods and services
32 592
33 374
30 590
-2 784
-8
Total goods
26 379
27 107
24 168
-2 939
-11
Rural goods(b)
3 875
4 130
4 057
-73
-2
Non-rural goods(b)
21 060
21 091
18 594
-2 497
-12
Net exports of goods under merchanting(c)
41
40
43
3
8
Non-monetary gold(c)
1 403
1 846
1 473
-373
-20
Total services
6 214
6 267
6 423
156
2
DEBITS
Total goods and services
-28 856
-30 206
-30 035
-171
-1
Total goods
-22 573
-23 914
-23 591
-323
-1
Consumption goods
-7 712
-8 456
-8 354
-102
-1
Capital goods
-5 853
-5 611
-5 741
130
2
Intermediate and other merchandise goods
-8 508
-9 279
-9 081
-198
-2
Non-monetary gold(c)
-500
-568
-415
-153
-27
Total services
-6 283
-6 292
-6 444
152
2

Trend(d)

BALANCE on goods and services
3 255
3 294
3 224
-70
-2
CREDITS
Total goods and services
32 970
33 170
33 201
31
-
Total goods
26 741
26 885
26 859
-26
-
Rural goods(b)
4 045
4 093
4 131
38
1
Non-rural goods(b)
21 182
21 250
21 165
-85
-
Net exports of goods under merchanting
43
43
41
-2
-5
Non-monetary gold
1 471
1 500
1 523
23
2
Total services
6 229
6 285
6 341
56
1
DEBITS
Total goods and services
-29 715
-29 876
-29 977
101
-
Total goods
-23 415
-23 544
-23 614
70
-
Consumption goods
-8 207
-8 273
-8 321
48
1
Capital goods
-5 711
-5 719
-5 700
-19
-
Intermediate and other merchandise goods
-9 008
-9 061
-9 099
38
-
Non-monetary gold
-489
-491
-493
2
-
Total services
-6 299
-6 332
-6 364
32
1

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) For all time periods, estimates for sugar, sugar preparations and honey are included in Non-rural goods.
(c) This component is not seasonally adjusted.
(d) Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, see paragraph 19 of the Explanatory Notes.



EXPORTS OF GOODS AND SERVICES

Between March and April 2017, the trend estimate of goods and services credits rose $31m to $33,201m.

In seasonally adjusted terms, goods and services credits fell $2,784m (8%) to $30,590m. Non-rural goods fell $2,497m (12%), non-monetary gold fell $373m (20%) and rural goods fell $73m (2%). Net exports of goods under merchanting rose $3m (8%). Services credits rose $156m (2%).


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

GOODS CREDITS, Seasonally Adjusted

Change in:
Feb 2017
Mar 2017
Apr 2017
Apr 2017
Apr 2017
$m
$m
$m
$m
%

Total goods credits
26 379
27 107
24 168
-2 939
-11
General merchandise
24 935
25 221
22 652
-2 569
-10
Rural goods
3 875
4 130
4 057
-73
-2
Meat and meat preparations
935
942
924
-18
-2
Cereal grains and cereal preparations
811
819
772
-47
-6
Wool and sheepskins
271
346
392
46
13
Other rural(a)
1 858
2 023
1 969
-54
-3
Non-rural goods
21 060
21 091
18 594
-2 497
-12
Metal ores and minerals(b)
7 981
8 360
8 288
-72
-1
Coal, coke and briquettes(c)
5 945
5 608
3 087
-2 521
-45
Other mineral fuels(b)(d)
2 517
2 487
2 361
-126
-5
Metals (excl. non-monetary gold)
835
844
903
59
7
Machinery
815
822
817
-5
-1
Transport equipment
373
396
416
20
5
Other manufactures
1 487
1 631
1 588
-43
-3
Other non-rural (incl. sugar and beverages)(a)
961
798
1 005
207
26
Goods procured in ports by carriers(d)
147
144
129
-15
-10
Net exports of goods under merchanting(e)
41
40
43
3
8
Non-monetary gold(e)
1 403
1 846
1 473
-373
-20

(a) For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
(b) From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
(c) From July 1971 to June 2005, only a length-of-month adjustment has been applied to this component. From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) This component is not seasonally adjusted.



RURAL GOODS

In trend terms, exports of rural goods rose $38m (1%) to $4,131m.

In seasonally adjusted terms, exports of rural goods fell $73m (2%) to $4,057m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • other rural, down $54m (3%)
  • cereal grains and cereal preparations, down $47m (6%).

Partly offsetting these falls was wool and sheepskins, up $46m (13%).


NON-RURAL GOODS

In trend terms, exports of non-rural goods fell $85m to $21,165m.

In seasonally adjusted terms, exports of non-rural goods fell $2,497m (12%) to $18,594m.

The main component contributing to the fall in seasonally adjusted estimates was coal, coke and briquettes, down $2,521m (45%).

Partly offsetting this fall was other non-rural (incl. sugar and beverages), up $207m (26%).

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 $2m (5%) to $41m.

In seasonally adjusted terms, net exports of goods under merchanting rose $3m (8%) to $43m.


NON-MONETARY GOLD

In trend terms, exports of non-monetary gold rose $23m (2%) to $1,523m.

In original and seasonally adjusted terms, exports of non-monetary gold fell $373m (20%) to $1,473m.


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

SERVICES CREDITS, Seasonally Adjusted

Change in:
Feb 2017
Mar 2017
Apr 2017
Apr 2017
Apr 2017
$m
$m
$m
$m
%

Total services credits
6 214
6 267
6 423
156
2
Manufacturing services on physical inputs owned by others(a)
2
2
2
-
-
Maintenance and repair services n.i.e.(a)
4
3
4
1
33
Transport
622
622
655
33
5
Passenger(b)
222
221
217
-4
-2
Freight(c)
27
26
27
1
4
Other
239
240
271
31
13
Postal and courier services(d)
135
135
140
5
4
Travel
3 835
3 890
3 971
81
2
Other services
1 750
1 750
1 791
41
2
Memorandum item
Tourism related services credits(e)
4 057
4 111
4 188
77
2

- nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.
(b) Passenger services includes agency fees and commissions for air transport.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.


In trend terms, services credits rose $56m (1%) to $6,341m.

In seasonally adjusted terms, services credits rose $156m (2%) to $6,423m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • travel, up $81m (2%)
  • other services, up $41m (2%)
  • transport, up $33m (5%).

In seasonally adjusted terms, tourism related services credits rose $77m (2%) to $4,188m.

In seasonally adjusted terms, total services credits contributed 21% of total goods and services exported.


IMPORTS OF GOODS AND SERVICES

Between March and April 2017, the trend estimate of goods and services debits rose $101m to $29,977m.

In seasonally adjusted terms, goods and services debits fell $171m (1%) to $30,035m. Intermediate and other merchandise goods fell $198m (2%), non-monetary gold fell $153m (27%) and consumption goods fell $102m (1%). Capital goods rose $130m (2%). Services debits rose $152m (2%).


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

GOODS DEBITS(a), Seasonally Adjusted

Change in:
Feb 2017
Mar 2017
Apr 2017
Apr 2017
Apr 2017
$m
$m
$m
$m
%

Total goods debits
-22 573
-23 914
-23 591
-323
-1
General merchandise
-22 073
-23 346
-23 176
-170
-1
Consumption goods
-7 712
-8 456
-8 354
-102
-1
Food and beverages, mainly for consumption
-1 145
-1 249
-1 223
-26
-2
Household electrical items
-487
-563
-559
-4
-1
Non-industrial transport equipment
-1 892
-2 025
-1 886
-139
-7
Textiles, clothing and footwear
-1 277
-1 487
-1 525
38
3
Toys, books and leisure goods
-505
-552
-584
32
6
Consumption goods n.e.s.
-2 406
-2 581
-2 576
-5
-
Capital goods
-5 853
-5 611
-5 741
130
2
Machinery and industrial equipment
-1 621
-1 617
-1 680
63
4
ADP equipment
-826
-785
-765
-20
-3
Telecommunications equipment
-976
-904
-1 050
146
16
Civil aircraft and confidentialised items(b)(c)
-298
-170
-249
79
46
Industrial transport equipment n.e.s.
-927
-930
-884
-46
-5
Capital goods n.e.s.(d)
-1 205
-1 203
-1 113
-90
-7
Intermediate and other merchandise goods
-8 508
-9 279
-9 081
-198
-2
Food and beverages, mainly for industry
-150
-157
-145
-12
-8
Primary industrial supplies n.e.s.(d)
-147
-134
-228
94
70
Fuels and lubricants(c)
-2 236
-2 730
-2 202
-528
-19
Parts for transport equipment
-889
-1 031
-1 039
8
1
Parts for ADP equipment
-53
-51
-55
4
8
Other parts for capital goods
-1 166
-1 188
-1 231
43
4
Organic and inorganic chemicals
-366
-407
-403
-4
-1
Paper and paperboard
-181
-195
-196
1
1
Textile yarn and fabrics
-115
-127
-125
-2
-2
Iron and steel
-234
-232
-234
2
1
Plastics
-317
-368
-354
-14
-4
Processed industrial supplies n.e.s.
-2 511
-2 537
-2 750
213
8
Other merchandise goods(b)(e)
-51
-32
-29
-3
-9
Goods procured in ports by carriers(c)
-91
-91
-90
-1
-1
Non-monetary gold(c)
-500
-568
-415
-153
-27

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) From July 2008, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Civil aircraft and confidentialised items. For earlier periods, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Other merchandise goods.
(c) This component is not seasonally adjusted.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) From July 1981, this component is not seasonally adjusted.



CONSUMPTION GOODS

In trend terms, imports of consumption goods rose $48m (1%) to $8,321m.

In seasonally adjusted terms, imports of consumption goods fell $102m (1%) to $8,354m.

The main component contributing to the fall in seasonally adjusted estimates was non-industrial transport equipment, down $139m (7%).


CAPITAL GOODS

In trend terms, imports of capital goods fell $19m to $5,700m.

In seasonally adjusted terms, imports of capital goods rose $130m (2%) to $5,741m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • telecommunications equipment, up $146m (16%)
  • civil aircraft and confidentialised items, up $79m (46%).

Partly offsetting these rises was capital goods n.e.s., down $90m (7%).


INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $38m to $9,099m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $198m (2%) to $9,081m.

The main component contributing to the fall in seasonally adjusted estimates was fuels and lubricants, down $528m (19%).

Partly offsetting this fall were:
  • processed industrial supplies n.e.s., up $213m (8%)
  • primary industrial supplies n.e.s., up $94m (70%).


NON-MONETARY GOLD

In trend terms, imports of non-monetary gold rose $2m to $493m.

In original and seasonally adjusted terms, imports of non-monetary gold fell $153m (27%) to $415m.


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

SERVICES DEBITS(a), Seasonally Adjusted

Change in:
Feb 2017
Mar 2017
Apr 2017
Apr 2017
Apr 2017
$m
$m
$m
$m
%

Total services debits
-6 283
-6 292
-6 444
152
2
Manufacturing services on physical inputs owned by others(b)
-
-
-
-
-
Maintenance and repair services n.i.e.(b)
-63
-72
-72
-
-
Transport
-1 329
-1 346
-1 370
24
2
Passenger(c)
-566
-554
-559
5
1
Freight
-690
-718
-738
20
3
Other(b)
-66
-66
-65
-1
-2
Postal and courier services(d)(e)
-8
-8
-8
-
-
Travel
-2 891
-2 853
-2 911
58
2
Other services
-1 999
-2 021
-2 091
70
3
Memorandum item
Tourism related services debits(f)
-3 457
-3 407
-3 470
63
2

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) This component is not seasonally adjusted.
(c) Passenger services includes agency fees and commissions for air transport.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(f) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.


In trend terms, services debits rose $32m (1%) to $6,364m.

In seasonally adjusted terms, services debits rose $152m (2%) to $6,444m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • other services, up $70m (3%)
  • travel, up $58m (2%)
  • transport, up $24m (2%).

In seasonally adjusted terms, tourism related services debits rose $63m (2%) to $3,470m.

In seasonally adjusted terms, total services debits contributed 21% of total goods and services imported.


Selected commodities

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

Change in
Nov 2016
Dec 2016
Jan 2017
Feb 2017
Mar 2017
Apr 2017
%
%
%
%
%
%

Iron ore

Lump
Quantity
1
6
-23
15
2
3
Unit value
16
9
-1
-1
5
-6
Fines
Quantity
1
7
-14
-8
16
-
Unit value
17
16
1
3
6
-8

Coal

Hard coking
Quantity
11
15
-15
-12
11
-65
Unit value
41
9
p-9
p-21
p -
p -
Semi-soft
Quantity
16
11
-38
22
-5
-33
Unit value
28
5
p-1
p-
p-3
p-2
Thermal
Quantity
-1
23
-16
-9
13
-5
Unit value
18
5
-5
p-4
-
p1

Gas

LNG
Quantity
1
-
3
-10
6
-7
Unit value
5
3
5
-2
-3
6

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


International merchandise trade exports data presented in the above table are based on information reported by exporters to the Department of Immigration and Border Protection (DIBP). For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to DIBP. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to DIBP. When additional information for these commodities is available, the ABS may adjust the data to reflect actual transaction values.

Unit values in this publication are presented in Australian dollar terms. Movements in the unit values for some commodities incorporate movements in the United States dollar prices reported to DIBP and movements in the Australian dollar to United States dollar exchange rate.

On an international merchandise trade basis, in original terms (noting the footnote in the above table), between March and April 2017 the largest movements recorded for the following selected commodities were:

Iron ore lump, down $41m (3%), with quantities up 3% and unit values down 6%. Exports to:
  • China (excluding SARs and Taiwan) fell $108m (9%), with quantities up 1% and unit values down 9%
  • Taiwan fell $43m (44%), with quantities down 34% and unit values down 16%
  • Japan rose $64m (31%), with quantities up 13% and unit values up 17%
  • the Republic of Korea rose $47m, with unit values up 17%.

Iron ore fines, down $367m (7%), with unit values down 8%. Exports to:
  • China (excluding SARs and Taiwan) fell $330m (8%), with quantities up 2% and unit values down 9%
  • the Republic of Korea fell $68m (20%), with quantities down 15% and unit values down 6%
  • Japan rose $36m (14%), with quantities up 1% and unit values up 12%.

Hard coking coal, down $1,386m (65%), with quantities down 65%. Exports to:
  • China (excluding SARs and Taiwan) fell $670m (92%), with quantities down 92% and unit values down 1%
  • Japan fell $228m (66%), with quantities down 65% and unit values down 4%
  • India fell $199m (36%), with quantities down 31% and unit values down 8%.

Semi-soft coal, down $286m (34%), with quantities down 33% and unit values down 2%. Exports to:
  • Japan fell $168m (51%), with quantities down 50% and unit values down 2%
  • China (excluding SARs and Taiwan) fell $129m (71%), with quantities down 68% and unit values down 10%.

Thermal coal, down $70m (4%), with quantities down 5% and unit values up 1%. Exports to:
  • Japan fell $108m (16%), with quantities down 18% and unit values up 3%
  • India fell $38m (71%), with quantities down 72% and unit values up 1%
  • Malaysia fell $36m (45%), with quantities down 43% and unit values down 3%
  • China (excluding SARs and Taiwan) rose $106m (39%), with quantities up 33% and unit values up 5%.

Liquefied natural gas (LNG), down $29m (2%), with quantities down 7% and unit values up 6%.