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5368.0 - International Trade in Goods and Services, Australia, Jul 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/09/2011   
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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 $1,846m in July 2011, a rise of $112m on the surplus in June 2011.

In seasonally adjusted terms, the balance on goods and services was a surplus of $1,826m in July 2011, a rise of $9m on the surplus in June 2011.


EXPORTS OF GOODS AND SERVICES

Between June 2011 and July 2011 the trend estimate of goods and services credits rose $282m (1%) to $26,457m.

In seasonally adjusted terms, goods and services credits fell $224m (1%) to $26,102m. Non-rural goods fell $724m (4%) and rural goods fell $41m (1%). Non-monetary gold rose $596m (82%) and net exports of goods under merchanting rose $5m (15%). Services credits fell $60m (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 $47m (2%) to $2,881m.

In seasonally adjusted terms, exports of rural goods fell $41m (1%) to $2,832m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • cereal grains and cereal preparations, down $26m (4%)
  • wool and sheepskins, down $9m (3%).

NON-RURAL GOODS

In trend terms, exports of non-rural goods rose $243m (1%) to $18,145m.

In seasonally adjusted terms, exports of non-rural goods fell $724m (4%) to $17,718m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • coal, coke and briquettes, down $535m (12%)
  • other mineral fuels, down $401m (19%).

Partly offsetting these falls was the metals (excl. non-monetary gold) component, up $170m (18%).

For price and volume details, see Commodity value adjustment.

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting rose $2m (6%) to $37m.

In seasonally adjusted terms, net exports of goods under merchanting rose $5m (15%) to $38m.

NON-MONETARY GOLD

In trend terms, exports of non-monetary gold fell $20m (2%) to $1,164m.

In seasonally adjusted terms, exports of non-monetary gold for July 2011 rose $596m (82%) to $1,322m, after falling $894m (55%) between May and June 2011.

On a recorded trade basis, between June and July 2011, non-monetary gold rose $581m (84%). This was primarily due to an increase in exports to the United Kingdom, up $524m, on volumes.


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


In trend terms, services credits rose $10m to $4,229m.

In seasonally adjusted terms, services credits fell $60m (1%) to $4,192m.

The main component contributing to the fall in seasonally adjusted estimates was travel, down $75m (3%).

In seasonally adjusted terms, tourism related services credits fell $77m (3%) to $2,771m.


IMPORTS OF GOODS AND SERVICES

Between June 2011 and July 2011 the trend estimate of goods and services debits rose $170m (1%) to $24,611m.

In seasonally adjusted terms, goods and services debits fell $232m (1%) to $24,276m. Intermediate and other merchandise goods fell $513m (6%). Consumption goods rose $166m (3%), non-monetary gold rose $153m (39%) and capital goods rose $135m (3%). Services debits fell $174m (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 $16m to $5,372m.

In seasonally adjusted terms, imports of consumption goods rose $166m (3%) to $5,363m.

The main component contributing to the rise in seasonally adjusted estimates was non-industrial transport equipment, up $227m (18%).

Partly offsetting this rise was the textiles, clothing and footwear component, down $67m (9%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $20m to $4,572m.

In seasonally adjusted terms, imports of capital goods rose $135m (3%) to $4,684m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • machinery and industrial equipment, up $103m (7%)
  • industrial transport equipment n.e.s., up $86m (15%).

Partly offsetting these rises was the capital goods n.e.s. component, down $167m (17%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $90m (1%) to $9,168m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $513m (6%) to $8,775m.

The main component contributing to the fall in the seasonally adjusted estimates was fuels and lubricants, down $455m (13%) after increasing $333m (11%) between May and June 2011.

NON-MONETARY GOLD

In trend terms, imports of non-monetary gold rose $28m (6%) to $462m.

In seasonally adjusted terms, non-monetary gold rose $153m (39%) to $543m.


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


In trend terms, services debits rose $16m to $5,037m.

In seasonally adjusted terms, services debits fell $174m (3%) to $4,911m.

The main components contributing to the fall in the seasonally adjusted estimates were:
  • travel, down $73m (3%)
  • transport, down $60m (5%), with passenger transport down $58m (10%).

In seasonally adjusted terms, tourism related services debits fell $131m (5%) to $2,699m.


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