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5368.0 - International Trade in Goods and Services, Australia, Dec 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/02/2014   
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DECEMBER KEY FIGURES

Oct 2013
Nov 2013
Dec 2013
Nov 13 to Dec 13
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-320
-66
184
(a). .
Seasonally adjusted
-417
83
468
464
CREDITS (Exports of goods and services)
Trend estimates
27 428
27 716
28 006
1
Seasonally adjusted
27 247
27 488
28 511
4
DEBITS (Imports of goods and services)
Trend estimates
27 748
27 781
27 822
-
Seasonally adjusted
27 664
27 404
28 042
2

. . not applicable
- nil or rounded to zero (including null cells)
(a) See paragraph 15 of the Explanatory Notes.

Balance on Goods and Services
Graph: This graph shows the Balance on Goods and Services for the Trend and Seasonally adjusted series



DECEMBER KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a surplus of $184m in December 2013, a turnaround of $250m on the deficit in November 2013.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $468m in December 2013, an increase of $385m (464%) on the surplus in November 2013.


CREDITS (EXPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $1,023m (4%) to $28,511m. Non-rural goods rose $897m (5%), rural goods rose $521m (17%) and net exports of goods under merchanting rose $1m (2%). Non-monetary gold fell $373m (28%). Services credits fell $23m.


DEBITS (IMPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $638m (2%) to $28,042m. Capital goods rose $238m (4%), consumption goods rose $186m (3%), intermediate and other merchandise goods rose $123m (1%) and non-monetary gold rose $32m (10%). Services debits rose $59m (1%).


2013 SITUATION
  • In original terms, the balance on goods and services for 2013 was a deficit of $7.2b, a fall of $15.8b (69%) on the deficit of $23.1b recorded in 2012, resulting from a $18.4b (6%) increase in
    goods and services credits
    partly offset by a $2.5b (1%) increase in goods and services debits.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2014 6 March 2014
February 2014 3 April 2014
March 2014 6 May 2014
April 2014 5 June 2014
May 2014 2 July 2014
June 2014 5 August 2014



REVISIONS

Revisions have been made to incorporate the latest data relating to international trade in goods and services since the last issue of this publication:
  • on an international merchandise trade basis, exports and imports have been revised back to June 2013
  • on a balance of payments basis revisions have been applied to:
      • goods credits back to June 2013
      • goods debits back to August 2012
      • services credits back to October 2013
      • services debits back to February 2013.

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have:
  • increased the deficit on goods and services for 2012-13 by $251m
  • increased the deficit on goods and services for the five months to November 2013 by $98m.


CHANGES IN FORTHCOMING ISSUES
  • Changes to export and import statistical codes.

See the Changes in forthcoming issues section for details.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals' and 'capital goods n.e.s.' components in the balance of payments series.

See the Value adjustments section for details.


INQUIRIES

For further information contact Val Tot on Canberra (02) 62525540 for Goods, and Ryan Oswin on Hobart (03) 6222 5898 for Services.


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Commonwealth of Australia 2014

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