Australian Bureau of Statistics
8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2008
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/06/2008
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The revision properties of the seasonally adjusted and trend estimates can be improved by the use of autoregressive integrated moving average (ARIMA) modelling. ARIMA modelling relies on the characteristics of the series being analysed to project future period data. The projected values are temporary, intermediate values, that are only used internally to improve the estimation of the seasonal factors. The projected data do not affect the original estimates and are discarded at the end of the seasonal adjustment process. In the next release, the MinEx collection will use ARIMA modelling where appropriate for individual time series. The ARIMA model is assessed as part of the annual reanalysis and following the 2008 annual reanalysis all of the MinEx series will use an ARIMA model. For more information on the details of ARIMA modelling see feature article: Use of ARIMA modelling to reduce revisions in the October 2004 issue of Australian Economic Indicators (cat. no. 1350.0).
The largest contributions to the rise this quarter were in Western Australia (up $23.0m or 7.7%) and Queensland (up $7.4m or 7.9%). The only fall was in Tasmania (down $0.5m or 6.0%).
MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)
In seasonally adjusted terms, total metres drilled fell 3.2% in the March quarter 2008. In original terms total metres drilled fell 17.7%. Drilling in areas of new deposits fell 24.0% and drilling in areas of existing deposits fell 13.6%.
Expenditure on petroleum exploration for the March quarter 2008 fell $60.6m (7.9%) to $709.4m.
In the March quarter 2008, South Australia had the largest fall in petroleum exploration expenditure of $40.7m (56.1%). Victoria had the largest rise of $22.8m (148.1%).
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This page last updated 9 September 2008