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5368.0 - International Trade in Goods and Services, Australia, Feb 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/04/2007   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in February 2007 was a deficit of $1,028m, a decrease of $45m on the deficit in January.


In seasonally adjusted terms, the balance on goods and services in February 2007 was a deficit of $838m, an increase of $6m on the deficit in January.



EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $113m (1%) between January and February to $18,266m.


In seasonally adjusted terms, goods and services credits rose $388m (2%) to $18,546m. Non-rural goods rose $222m (2%), other goods rose $136m (14%) and rural goods rose $24m (1%). Services credits rose $7m.


Exports of goods

GOODS CREDITS
Graph: Goods Credits



RURAL GOODS

The trend estimate of rural goods exports fell $26m (1%) to $2,080m.


In seasonally adjusted terms, exports of rural goods rose $24m (1%) to $2,089m.


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

  • other rural, up $19m (2%)
  • wool and sheep skins, up $14m (5%)
  • cereal grains and cereal preparations, up $11m (4%).

Partly offsetting these effects was the meat and meat preparations component, down $20m (3%)


In original terms, exports of rural goods rose $333m (20%) to $1,986m.


NON-RURAL GOODS

The trend estimate of non-rural goods exports rose $97m (1%) to $11,255m.


In seasonally adjusted terms, exports of non-rural goods rose $222m (2%) to $11,438m.


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

  • metal ores and minerals, up $267m (9%)
  • other non rural, up $50m (4%)
  • metals (excl. gold), up $49m (4%)
  • transport equipment, up $43m (12%).

Partly offsetting these effects were:
  • coal, coke and briquettes, down $151m (7%)
  • other mineral fuels, down $19m (2%)
  • machinery, down $12m (2%).

In original terms, exports of non-rural goods rose $158m (2%) to $10,217m.


OTHER GOODS

The trend estimate of other goods exports rose $21m (2%) to $1,026m.


In seasonally adjusted terms, exports of other goods rose $136m (14%) to $1,116m.


The main component contributing to the rise in the seasonally adjusted series was non-monetary gold, up $146m (18%).


In original terms, exports of other goods rose $138m (14%) to $1,113m.


Exports of services

SERVICES CREDITS
Graph: Services Credits



In trend terms, services credits rose $23m (1%) to $3,906m.


Seasonally adjusted, services credits rose $7m to $3,904m.


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

  • other services, up $4m
  • transportation services, up $3m.

Seasonally adjusted, tourism related services credits rose $12m to $2,506m. 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 $68m between January and February to $19,294m.


In seasonally adjusted terms, goods and services debits rose $394m (2%) to $19,385m. Consumption goods rose $227m (5%), capital goods rose $101m (3% ), other goods rose $93m (15%) while intermediate and other merchandise goods fell $21m. Services debits fell $5m.


Imports of goods

GOODS DEBITS
Graph: Goods Debits



CONSUMPTION GOODS

The trend estimate of imports of consumption goods rose $50m (1%) to $4,792m.


In seasonally adjusted terms, imports of consumption goods rose $227m (5%) to $4,888m.


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

  • food and beverages, mainly for consumption, up $77m (13%)
  • consumption goods n.e.s., up $73m (5%)
  • household electrical items, up $34m (10%)
  • textiles, clothing and footwear, up $33m (6%).

In original terms, imports of consumption goods rose $18m to $4,379m.


CAPITAL GOODS

The trend estimate of imports of capital goods rose $20m (1%) to $3,546m.


In seasonally adjusted terms, imports of capital goods rose $101m (3%) to $3,556m.


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

  • industrial transport equipment n.e.s., up $118m (20%)
  • ADP equipment, up $41m (7%).

Partly offsetting these effects was the telecommunications equipment component, down $47m (11%).


In original terms, imports of capital goods fell $227m (7%) to $3,001m.


INTERMEDIATE AND OTHER MERCHANDISE GOODS

The trend estimate of imports of intermediate and other merchandise goods fell $31m to $6,558m.


In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $21m to $6,497m.


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

  • other parts for capital goods, down $75m (7%)
  • fuels and lubricants, down $49m (3%)
  • parts for ADP equipment, down $29m (21%).

Largely offsetting these effects were:
  • processed industrial supplies, up $85m (6%)
  • primary industrial supplies n.e.s., up $29m (25%)
  • parts for transport equipment, up $29m (4%).

In original terms, intermediate and other merchandise goods fell $401m (6%) to $6,153m.


OTHER GOODS

The trend estimate of imports of other goods rose $20m (3%) to $655m.


In both original and seasonally adjusted terms, other goods debits rose $93m (15%) to $732m.


The main component contributing to the rise in these estimates was non-monetary gold, up $126m (30%), partly offset by goods for processing, down $40m (78%).


Imports of services

SERVICES DEBITS
Graph: Services Debits



In trend terms, services debits rose $9m to $3,744m.


Seasonally adjusted, services debits fell $5m to $3,712m.


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

  • travel services, down $9m (1%)
  • transportation services, down $5m.

Partly offsetting these effects was the other services component, up $9m (1%).


Seasonally adjusted, tourism related services debits rose $16m (1%) to $1,902m. This series is seasonally adjusted independently to the series that comprise services debits.


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