COMMODITY VALUE ADJUSTMENT
International merchandise trade exports data (on a recorded trade basis) presented in tables 12–15 of this publication are based on information provided by exporters to the Australian Customs and Border Protection Service (Customs and Border Protection). At the time of initial reporting to Customs and Border Protection estimated quantity and unit price information may be reported for commodities such as iron ore and coal. Final quantity and unit price information are updated progressively in recorded trade data as exporters revise the information provided to Customs and Border Protection. When additional information on quantity and unit price for these commodities are available, the ABS may adjust the balance of payments series to minimise the impact of future revisions.
Iron ore and coal (in original terms)
- a negative $40m adjustment has been applied to the 'metal ores and minerals' component for May 2012. All previous adjustments have been removed.
- a negative $30m adjustment has been applied to the 'coal, coke and briquettes' component for May 2012. All previous adjustments have been removed.
- the balance of payments goods debits component 'capital goods n.e.s.' includes an estimate of expenditure on capital goods that have changed ownership but have not yet crossed the Customs frontier.