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5368.0 - International Trade in Goods and Services, Australia, Feb 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 07/04/2008   
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FEBRUARY KEY FIGURES

December 2007
January 2008
February 2008
Jan 08 to Feb 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-2 405
-2 582
-2 723
-5
Seasonally adjusted
-1 792
-2 535
-3 289
-30
CREDITS (Exports of goods & services)
Trend estimates
18 446
18 572
18 663
-
Seasonally adjusted
18 756
19 050
18 260
-4
DEBITS (Imports of goods & services)
Trend estimates
20 851
21 155
21 386
1
Seasonally adjusted
20 548
21 585
21 548
-

- nil or rounded to zero (including null cells)

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



FEBRUARY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a deficit of $2,723m in February 2008, an increase of $141m (5%) on the revised deficit in January 2008.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $3,289m in February 2008, an increase of $754m (30%) on the revised deficit in January 2008.
  • The increase in the seasonally adjusted deficit was due to the fall in goods and services credits, mainly non-rural and other goods, outweighing the fall in goods and services debits, mainly intermediate and other goods.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits fell $790m (4%) to $18,260m. Non-rural and other goods fell $774m (6%) and rural goods rose $23m (1%). Services credits fell $40m (1%).
  • The fall in non-rural and other goods was driven by metal ores and minerals, which fell $624m (18%) and coal, coke and briquettes, which fell $281m (16%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits fell $37m to $21,548m. Intermediate and other goods fell $125m (1%) and consumption goods fell $93m (2%) while capital goods rose $269m (7%). Services debits fell $89m (2%).
  • The fall in intermediate and other goods was driven mainly by processed industrial supplies n.e.s., which fell $108m (6%) and fuels and lubricants, which fell $78m (3%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2008 6 May 2008
April 2008 5 June 2008
May 2008 3 July 2008
June 2008 31 July 2008
July 2008 4 September 2008
August 2008 2 October 2008



REVISIONS

Revisions were made to the previous seven months to incorporate the latest available data relating to merchandise trade and international trade in services.

In original terms, these revisions have:
  • decreased the deficit on goods and services for January 2008 by $216m
  • increased the deficit on goods and services for 2006-07 by $204m.


AVAILABILITY OF DETAILED SERVICES DATA

The trade in services data cubes, listed under Time Series Data on page 4, for data on a calendar year basis to 2007 will be updated in March 2008 issue.


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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