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5368.0 - International Trade in Goods and Services, Australia, Aug 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/10/2011   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services was a surplus of $2,656m in August 2011, a rise of $300m on the surplus in July 2011.

In seasonally adjusted terms, the balance on goods and services was a surplus of $3,100m in August 2011, a rise of $1,283m on the surplus in July 2011.


EXPORTS OF GOODS AND SERVICES

Between July 2011 and August 2011 the trend estimate of goods and services credits rose $475m (2%) to $27,536m.

In seasonally adjusted terms, goods and services credits rose $2,101m (8%) to $28,366m. Non-rural goods rose $1,547m (9%), non-monetary gold rose $392m (30%) and rural goods rose $165m (6%). Net exports of goods under merchanting remained steady at $4m. Services credits fell $2m.


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 $39m (1%) to $2,932m.

In seasonally adjusted terms, exports of rural goods rose $165m (6%) to $2,983m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • wool and sheepskins, up $88m (35%)
  • other rural, up $68m (5%).

NON-RURAL GOODS

In trend terms, exports of non-rural goods rose $324m (2%) to $18,938m.

In seasonally adjusted terms, exports of non-rural goods rose $1,547m (9%) to $19,422m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • coal, coke and briquettes, up $542m (14%)
  • metal ores and minerals, up $484m (6%)
  • other mineral fuels, up $429m (24%).

For price and volume details, see Commodity value adjustment.

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting fell $1m (50%) to $1m.

In seasonally adjusted terms, net exports of goods under merchanting remained steady at $4m.

NON-MONETARY GOLD

In trend terms, exports of non-monetary gold rose $95m (7%) to $1,417m.

In seasonally adjusted terms, exports of non-monetary gold rose $392m (30%) to $1,714m.


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


In trend terms, services credits rose $18m to $4,248m.

In seasonally adjusted terms, services credits fell $2m to $4,244m.

The main component contributing to the fall in seasonally adjusted estimates was travel, down $5m.

Partly offsetting this fall was the transport component, up $3m (1%), with passenger transport up $4m (2%).

In seasonally adjusted terms, tourism related services credits fell $1m to $2,790m.


IMPORTS OF GOODS AND SERVICES

Between July 2011 and August 2011 the trend estimate of goods and services debits rose $175m (1%) to $24,880m.

In seasonally adjusted terms, goods and services debits rose $818m (3%) to $25,266m. Intermediate and other merchandise goods rose $610m (7%), consumption goods rose $167m (3%) and non-monetary gold rose $6m (1%). Capital goods fell $122m (3%). Services debits rose $156m (3%).


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 rose $35m (1%) to $5,463m.

In seasonally adjusted terms, imports of consumption goods rose $167m (3%) to $5,551m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • household electrical items, up $110m (33%)
  • textiles, clothing and footwear, up $91m (14%).

Partly offsetting these rises was the non-industrial transport equipment component, down $119m (8%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $44m (1%) to $4,673m.

In seasonally adjusted terms, imports of capital goods fell $122m (3%) to $4,679m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • civil aircraft and confidentialised items, down $62m (15%)
  • capital goods n.e.s., down $49m (6%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $22m to $9,203m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $610m (7%) to $9,386m.

The main components contributing to the rise in the seasonally adjusted estimates were:
  • fuels and lubricants, up $325m (11%) after falling $458m (14%) between June and July 2011
  • processed industrial supplies n.e.s., up $242m (11%).

NON-MONETARY GOLD

In trend terms, imports of non-monetary gold rose $29m (6%) to $511m.

In seasonally adjusted terms, non-monetary gold rose $6m (1%) to $549m.


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


In trend terms, services debits rose $44m (1%) to $5,029m.

In seasonally adjusted terms, services debits rose $156m (3%) to $5,100m.

The main components contributing to the rise in the seasonally adjusted estimates were:
  • travel, up $73m (3%)
  • transport, up $45m (4%), with freight transport up $38m (5%).

In seasonally adjusted terms, tourism related services debits rose $81m (3%) to $2,896m.


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