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5368.0 - International Trade in Goods and Services, Australia, May 2009  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/07/2009   
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MAY KEY FIGURES

March 2009
April 2009
May 2009
Apr 09 to May 09
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
998
699
448
-36
Seasonally adjusted
2 000
-282
-556
. .
CREDITS (Exports of goods & services)
Trend estimates
22 867
22 060
21 401
-3
Seasonally adjusted
24 068
21 504
20 392
-5
DEBITS (Imports of goods & services)
Trend estimates
21 869
21 361
20 954
-2
Seasonally adjusted
22 068
21 786
20 948
-4

. . not applicable

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



MAY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $448m in May 2009, a decrease of $251m (36%) on a revised surplus in April 2009.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $556m in May 2009, an increase of $274m (97%) on a revised deficit in April 2009.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits fell $1,112m (5%) to $20,392m. Non-rural goods fell $684m (5%), other goods fell $368m (24%) and rural goods fell $86m (3%). Services credits rose $27m (1%).
  • The fall in non-rural goods largely reflects the falls in the coal, coke and briquettes component, down $540m (15%), the other mineral fuels component, down $88m (7%) and the metal ores and minerals component, down $78m (2%). The largest fall in other goods was in the non-monetary gold component, down $351m (27%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits fell $838m (4%) to $20,948m. Capital goods fell $577m (14%), intermediate and other merchandise goods fell $464m (7%) and consumption goods fell $54m (1%). Other goods rose $294m (35%). Services debits fell $37m (1%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
June 2009 5 August 2009
July 2009 3 September 2009
August 2009 6 October 2009
September 2009 5 November 2009
October 2009 9 December 2009
November 2009 7 January 2010



REVISIONS

Revisions have been made to incorporate the latest available data relating to merchandise trade and international trade in services. In original terms, these revisions have:
  • turned around the surplus on goods and services for April 2009 by $196m, resulting in a deficit of $39m
  • decreased the surplus on goods and services for the 10 months ended April 2009 by $2,847m to $6,260m.
  • increased the deficit on goods and services for 2007-08 by $2,055m with:
      • goods debits increasing by $75m
      • service credits increasing by $16m
      • services debits increasing by $1,996m.

Both services credits and debits were revised back to July 2007 to incorporate the latest survey results, revised survey data for previous quarters and the latest administrative data. The largest revisions occur in transportation services credits and travel services debits.


IRON ORE AND COAL PRICES

For details of adjustments made to the value of iron ore exports for April and May 2009 in the Balance of Payment series, see Commodity prices adjustment.


INFORMATION UPDATE

For details of two information papers to be released in July 2009 and the release of updated information about industry and country classifications used in merchandise trade statistics, see Classifications and standards update.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.


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