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5368.0 - International Trade in Goods and Services, Australia, Oct 2009  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/12/2009   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services was a deficit of $1,936m in October 2009, an increase of $122m (7%) on a revised deficit in September 2009.

In seasonally adjusted terms, the balance on goods and services was a deficit of $2,379m in October 2009, an increase of $534m (29%) on a revised deficit in September 2009.


EXPORTS OF GOODS AND SERVICES

Between September 2009 and October 2009 the trend estimate of goods and services credits rose $48m to $19,532m.

In seasonally adjusted terms, goods and services credits fell $703m (3%) to $19,468m. Non-rural goods fell $325m (3%) and rural goods fell $156m (8%) and non-monetary gold fell $235m (17%). Services credits rose $31m (1%).


Exports of goods

GOODS CREDITS
Graph: GOODS CREDITS


RURAL GOODS

In trend terms, exports of rural goods fell $62m (3%) to $1,937m.

In seasonally adjusted terms, exports of rural goods fell $156m (8%) to $1,859m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • other rural, down $106m (12%)
  • cereal grains and cereal preparations, down $59m (14%).

NON-RURAL GOODS

In trend terms, exports of non-rural goods fell $14m to $11,776m.

In seasonally adjusted terms, exports of non-rural goods fell $325m (3%) to $11,732m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • coal, coke & briquettes, down $344m (12%). In original terms, the metallurgical high rank coal fell $345m (24%), with volumes down 12% and prices down 14%.
  • metal ores and minerals, down $267m (7%). In original terms, non-agglomerated iron ore fell $193m (8%), with volumes up 1% and prices down 9%.

Partly offsetting these decreases was the other mineral fuels component, up $217m (18%).

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting fell $2m (10%) to $18m.

In both original terms and seasonally adjusted terms, net exports of goods under merchanting fell $18m (69%) to $8m.

NON-MONETARY GOLD

In trend terms, exports of non-monetary gold rose $75m (7%) to $1,104m.

In both original terms and seasonally adjusted terms, non-monetary gold fell $235m (17%) to $1,139m.


Exports of services
SERVICES CREDITS
Graph: SERVICES CREDITS


In trend terms, services credits rose $52m (1%) to $4,697m.

In seasonally adjusted terms, services credits rose $31m (1%) to $4,731m.

The components contributing to the rise in the seasonally adjusted estimates were:
  • other services, up $16m (1%)
  • manufacturing services on physical inputs owned by others, up $12m (60%)
  • transport services, up $11m (2%).

Partly offsetting these rises was the travel services component, down $6m.

In seasonally adjusted terms, tourism related services credits fell $2m to $3,144m.


IMPORTS OF GOODS AND SERVICES

Between September 2009 and October 2009 the trend estimate of goods and services debits rose $172m (1%) to $21,469m.

In seasonally adjusted terms, goods and services debits fell $170m (1%) to $21,847m. Intermediate and other merchandise goods fell $207m (3%), non-monetary gold fell $66m (9%), consumption goods fell $42m (1%) and capital goods rose $35m (1%). Services debits rose $111m (2%).


Imports of goods
GOODS DEBITS

Graph: GOODS DEBITS


CONSUMPTION GOODS

In trend terms, imports of consumption goods fell $10m to $5,066m.

In seasonally adjusted terms, imports of consumption goods fell $42m (1%) to $5,044m.

The main component contributing to the fall in the seasonally adjusted estimates was the household electrical items component, down $58m (12%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $25m (1%) to $3,724m.

In seasonally adjusted terms, imports of capital goods rose $35m (1%) to $4,029m.

The components contributing to the rise in the seasonally adjusted estimates were:
  • capital goods n.e.s., up $153m (14%)
  • ADP equipment, up $38m (7%).

Partly offsetting these rises were:
  • machinery and industrial equipment, down $83m (6%)
  • industrial transport equipment n.e.s., down $41m (8%)
  • telecommunications equipment, down $32m (6%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $34m to $7,159m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $207m (3%) to $7,147m.

The main components contributing to the fall in the seasonally adjusted estimates were:
  • fuels and lubricants, down $236m (10%)
  • parts for transport equipment, down $75m (10%).

Partly offsetting these decreases was the goods procured in ports by carriers component, up $65m (52%).

In original terms the fall in the fuels and lubricants component was driven by crude petroleum, down $175m (17%) with volumes down 11% and prices down 7%. Refined petroleum oils was down $75m (7%) with prices down 7%.

NON-MONETARY GOLD

In trend terms, imports of non-monetary gold rose $59m (11%) to $608m.

In both original terms and seasonally adjusted terms, non-monetary gold fell $66m (9%) to $671m.


Imports of services
SERVICES DEBITS
Graph: SERVICES DEBITS


In trend terms, services debits rose $63m (1%) to $4,911m.

In seasonally adjusted terms, services debits rose $111m (2%) to $4,956m.

The main components contributing to the rise in the seasonally adjusted estimates were:
  • other services, up $88m (2%)
  • travel services, up $19m (1%).

Partly offsetting these rises was the maintenance and repair services n.i.e. component, down $6m (29%).

In seasonally adjusted terms, tourism related services debits rose $7m to $2,550m.


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