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5368.0 - International Trade in Goods and Services, Australia, Aug 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/10/2007   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in August 2007 was a deficit of $1,412m, an increase of $44m on the deficit in July.


In seasonally adjusted terms, the balance on goods and services in August 2007 was a deficit of $1,614m, an increase of $731m on the deficit in July.



EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $48m between July and August to $18,375m.


In seasonally adjusted terms, goods and services credits rose $321m (2%) to $18,638m. Non-rural goods rose $285m (3%) and other goods rose $87m (8%) while rural goods fell $73m (4%). Services credits rose $24m (1%).



Exports of goods

GOODS CREDITS
Graph: Goods Credits



RURAL GOODS

The trend estimate of rural goods exports fell $24m (1%) to $1,851m.


In seasonally adjusted terms, exports of rural goods fell $73m (4%) to $1,848m.


The components contributing to the fall in the seasonally adjusted series were:

  • cereal grains and cereal preparations, down $151m (40%)
  • wool and sheepskins, down $12m (5%).

Partly offsetting these effects were:
  • other rural, up $58m (7%)
  • meat and meat preparations, up $31m (6%).

In original terms, exports of rural goods fell $22m (1%) to $1,878m.


NON-RURAL GOODS

The trend estimate of non-rural goods exports rose $26m to $11,184m.


In seasonally adjusted terms, exports of non-rural goods rose $285m (3%) to $11,436m.


The main components contributing to the rise in the seasonally adjusted series were:

  • other mineral fuels, up $301m (26%)
  • metal ores and minerals, up $110m (4%)
  • coal, coke and briquettes, up $72m (4%).

Partly offsetting these effects were:
  • other non-rural, down $93m (7%)
  • metals (excluding non-monetary gold), down $90m (7%)
  • transport equipment, down $26m (5%).

In original terms, exports of non-rural goods rose $307m (3%) to $11,738m.


OTHER GOODS

The trend estimate of other goods exports rose $20m (2%) to $1,248m.


In seasonally adjusted terms, exports of other goods rose $87m (8%) to $1,247m.


The component contributing to the rise in the seasonally adjusted series was non-monetary gold, up $95m (9%).


In original terms, exports of other goods rose $94m (8%) to $1,253m.



Exports of services

SERVICES CREDITS
Graph: Services Credits



In trend terms, services credits rose $26m (1%) to $4,092m.


Seasonally adjusted, services credits rose $24m (1%) to $4,108m.


The components that contributed to the rise in the seasonally adjusted estimates were:

  • other services, up $16m (1%)
  • travel services, up $15m (1%).

Partly offsetting these effects was the transportation services component, down $8m (1%).


Seasonally adjusted, tourism related services credits rose $18m (1%) to $2,614m. This series is seasonally adjusted independently to the series that comprise services credits.



IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $92m between July and August to $19,787m.


In seasonally adjusted terms, goods and services debits rose $1,052m (5%) to $20,252m. Capital goods rose $440m (14%), intermediate and other merchandise goods rose $409m (6%), consumption goods rose $139m (3%) and other goods rose $50m (6%). Services debits rose $14m.



Imports of goods

GOODS DEBITS
Graph: Goods Debits



CONSUMPTION GOODS

The trend estimate of imports of consumption goods fell $11m to $4,584m.


In seasonally adjusted terms, imports of consumption goods rose $139m (3%) to $4,698m.


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

  • non-industrial transport equipment, up $103m (9%)
  • food and beverages, mainly for consumption, up $43m (7%)
  • textiles, clothing and footwear, up $13m (2%).

Partly offsetting these effects was the consumption goods n.e.s. component, down $22m (2%).


In original terms, imports of consumption goods rose $424m (9%) to $5,068m.


CAPITAL GOODS

The trend estimate of imports of capital goods fell $4m to $3,490m.


In seasonally adjusted terms, imports of capital goods rose $440m (14%) to $3,647m.


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

  • civil aircraft, up $289m
  • industrial transport equipment n.e.s., up $79m (16%)
  • ADP equipment, up $61m (11%)
  • telecommunications equipment, up $14m (3%).

In original terms, imports of capital goods rose $530m (16%) to $3,778m.


INTERMEDIATE AND OTHER MERCHANDISE GOODS

The trend estimate of imports of intermediate and other merchandise goods rose $21m to $6,961m.


In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $409m (6%) to $7,119m.


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

  • fuels and lubricants, up $403m (22%), driven by crude petroleum, up $218m (19%), and other petroleum products, up $106m (22%)
  • parts for transport equipment, up $71m (10%)
  • other merchandise goods, up $32m (37%).

Partly offsetting these effects were:
  • primary industrial supplies n.e.s., down $67m (41%)
  • iron and steel, down $30m (9%).

In original terms, imports of intermediate and other merchandise goods rose $681m (10%) to $7,405m.


OTHER GOODS

The trend estimate of imports of other goods rose $63m (8%) to $873m.


In both original and seasonally adjusted terms, other goods debits rose $50m (6%) to $899m.


The components contributing to the rise in both original and seasonally adjusted estimates were:

  • non-monetary gold, up $35m (5%)
  • goods for processing, up $12m
  • repairs on goods, up $3m (21%).


Imports of services
SERVICES DEBITS
Graph: Services Debits



In trend terms, services debits rose $23m (1%) to $3,879m.


Seasonally adjusted, services debits rose $14m to $3,889m.


The main component contributing to the rise in the seasonally adjusted estimates was other services, up $18m (2%).


Seasonally adjusted, tourism related services debits rose $3m to $1,993m. This series is seasonally adjusted independently to the series that comprise services debits.


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