ANALYSIS AND COMMENTS
BALANCE ON GOODS AND SERVICES
The trend estimate of the balance on goods and services in May 2007 was a deficit of $1,023m, a decrease of $19m on the deficit in April.
In seasonally adjusted terms, the balance on goods and services in May 2007 was a deficit of $807m, a decrease of $109m on the deficit in April.
EXPORTS OF GOODS AND SERVICES
The trend estimate of goods and services credits rose $102m (1%) between April and May to $18,402m.
In seasonally adjusted terms, goods and services credits rose $545m (3%) to $18,727m. Non-rural goods rose $348m (3%), other goods rose $155m (15%) and rural goods rose $1m. Services credits rose $43m (1%).
Exports of goods
GOODS CREDITS
RURAL GOODS
The trend estimate of rural goods exports fell $22m (1%) to $1,980m.
In seasonally adjusted terms, exports of rural goods rose $1m to $1,983m.
The components contributing to the rise in the seasonally adjusted series were:
- other rural, up $17m (2%)
- wool and sheepskins, up $6m (2%)
- cereal grains and cereal preparations, up $4m (1%).
Offsetting these effects was the meat and meat preparations component, down $26m (5%).
In original terms, exports of rural goods rose $183m (9%) to $2,110m.
NON-RURAL GOODS
The trend estimate of non-rural goods exports rose $65m (1%) to $11,294m.
In seasonally adjusted terms, exports of non-rural goods rose $348m (3%) to $11,524m.
The main components contributing to the rise in the seasonally adjusted series were:
- coal, coke and briquettes, up $138m (8%)
- other manufactures, up $137m (11%)
- metal ores and minerals, up $81m (3%)
- transport equipment, up $51m (13%).
Partly offsetting these effects was the other mineral fuels component, down $143m (10%).
In original terms, exports of non-rural goods rose $711m (7%) to $11,612m.
OTHER GOODS
The trend estimate of other goods exports rose $37m (3%) to $1,136m.
In seasonally adjusted terms, exports of other goods rose $155m (15%) to $1,215m.
The components contributing to the rise in the seasonally adjusted series were:
- non-monetary gold, up $113m (12%)
- goods for processing, up $46m.
In original terms, exports of other goods rose $165m (16%) to $1,216m.
Exports of services
SERVICES CREDITS
In trend terms, services credits rose $22m (1%) to $3,992m.
Seasonally adjusted, services credits rose $43m (1%) to $4,006m.
All components contributed to the rise in the seasonally adjusted estimates with:
- travel services, up $23m (1%)
- transportation services, up $17m (2%)
- other services, up $3m.
Seasonally adjusted, tourism related services credits rose $18m (1%) to $2,569m. 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 $83m between April and May to $19,425m.
In seasonally adjusted terms, goods and services debits rose $437m (2%) to $19,534m. Capital goods rose $417m (13%) and intermediate and other merchandise goods rose $125m (2%) while consumption goods fell $73m (2%) and other goods fell $45m (7%). Services debits rose $13m.
Imports of goods
GOODS DEBITS
CONSUMPTION GOODS
The trend estimate of imports of consumption goods fell $20m to $4,663m.
In seasonally adjusted terms, imports of consumption goods fell $73m (2%) to $4,586m.
The main component contributing to the fall in the seasonally adjusted estimates was non-industrial transport equipment, down $195m (14%).
Partly offsetting this effect were:
- consumption goods n.e.s., up $75m (5%)
- household electrical items, up $40m (11%).
In original terms, imports of consumption goods rose $90m (2%) to $4,417m.
CAPITAL GOODS
The trend estimate of imports of capital goods rose $15m to $3,556m.
In seasonally adjusted terms, imports of capital goods rose $417m (13%) to $3,735m.
The main components contributing to the rise in the seasonally adjusted estimates were:
- civil aircraft, up $375m
- industrial transport equipment n.e.s., up $92m (18%).
Partly offsetting these effects was the machinery and industrial equipment component, down $89m (7%).
In original terms, imports of capital goods rose $598m (19%) to $3,814m.
INTERMEDIATE AND OTHER MERCHANDISE GOODS
The trend estimate of imports of intermediate and other merchandise goods rose $65m (1%) to $6,893m.
In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $125m (2%) to $6,915m.
The main component contributing to the rise in the seasonally adjusted estimates was fuels and lubricants, up $318m (18%), with volumes of crude oil imports up 16% and prices up 1%.
Partly offsetting this effect were:
- processed industrial supplies, down $70m (4%)
- primary industrial supplies n.e.s., down $65m (41%)
- iron and steel, down $31m (9%).
In original terms, intermediate and other merchandise goods rose $416m (6%) to $7,045m.
OTHER GOODS
The trend estimate of imports of other goods rose $15m (3%) to $595m.
In both original and seasonally adjusted terms, other goods debits fell $45m (7%) to $559m.
The main component contributing to the fall in these estimates was non-monetary gold, down $47m (10%).
Imports of services
SERVICES DEBITS
In trend terms, services debits rose $8m to $3,718m.
Seasonally adjusted, services debits rose $13m to $3,739m.
All components contributed to the rise in the seasonally adjusted estimates with:
- travel services, up $8m (1%)
- transportation services, up $3m
- other services, up $2m.
Seasonally adjusted, tourism related services debits fell $17m (1%) to $1,948m. This series is seasonally adjusted independently to the series that comprise services debits.
Print Page
Print All