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5368.0 - International Trade in Goods and Services, Australia, Nov 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/01/2008   
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NOVEMBER KEY FIGURES

September 2007
October 2007
November 2007
Oct 07 to Nov 07
$m
$m
$m
% change

TREND ESTIMATES

Balance on goods and services
-2 073
-2 297
-2 470
. .
Credits (exports of goods & services)
18 006
17 960
17 932
-
Debits (imports of goods & services)
20 079
20 257
20 402
1

SEASONALLY ADJUSTED

Balance on goods and services
-2 057
-2 863
-2 254
. .
Credits (exports of goods & services)
17 779
17 401
18 379
6
Debits (imports of goods & services)
19 836
20 264
20 634
2

. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services
Graph: Balance on Goods and Services



NOVEMBER KEY POINTS


TREND ESTIMATES
  • The provisional trend estimate of the balance on goods and services was a deficit of $2,470m in November 2007, an increase of $173m on the revised deficit in October.
  • Goods and services credits fell $28m to $17,932m. Goods and services debits rose $145m (1%) to $20,402m.


SEASONALLY ADJUSTED ESTIMATES
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $2,254m in November, a decrease of $609m on the revised deficit in October.
  • Goods and services credits rose $978m (6%) to $18,379m. Non-rural and other goods rose $892m (8%) and rural goods rose $100m (5%). Services credits fell $14m.
  • Goods and services debits rose $370m (2%) to $20,634m. Capital goods rose $222m (6%) and consumption goods rose $179m (4%) while intermediate and other goods fell $79m (1%). Services debits rose $47m (1%).


ORIGINAL ESTIMATES
  • In original terms, the November 2007 balance on goods and services was a deficit of $3,349m, a decrease of $547m on the revised deficit in October. Goods and services credits rose $295m (2%) and goods and services debits fell $252m (1%).
  • In the five months to November, exports of non-rural and other goods were up $705m (1%) while rural goods were down $1,473m (13%) on the corresponding period in 2006-07.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
December 2007 4 February 2008
January 2008 6 March 2008
February 2008 7 April 2008
March 2008 6 May 2008
April 2008 5 June 2008
May 2008 3 July 2008



REVISIONS

Revisions were made to incorporate the latest available data relating to merchandise trade, and survey and administrative data relating to international trade in services. In original terms, these revisions have:
  • decreased the deficit on goods and services for October 2007 by $96m
  • increased the deficit on good and services for 2006-07 by $20m
  • decreased the deficit on good and services for 2005-06 by $88m.


INFORMATION PAPER

An information paper Changes to international trade statistics July 2008 (cat. no. 5368.0.55.009) is being released concurrently with this issue. The paper outlines changes to classifications associated with international trade statistics. The United Nations has issued an update to the Standard International Trade Classification (SITC) which the ABS will implement from the July 2008 reference month. SITC is the United Nations' recommended classification for presenting merchandise trade statistics and is the underlying classification scheme for balance of payments goods statistics. As a consequence of the changes to SITC, a number of related international trade classifications will be impacted. This information paper can be accessed on the ABS web site www.abs.gov.au.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Selvi Sekhar on Canberra (02) 62525540.


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