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5368.0 - International Trade in Goods and Services, Australia, Dec 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/02/2015   
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DECEMBER KEY FIGURES

Oct 2014
Nov 2014
Dec 2014
Nov 14 to Dec 14
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-1 114
-959
-830
13
Seasonally adjusted
-1 140
-1 016
-436
57
CREDITS (Exports of goods and services)
Trend estimates
26 777
26 927
27 049
-
Seasonally adjusted
26 824
26 869
27 243
1
DEBITS (Imports of goods and services)
Trend estimates
27 890
27 886
27 879
-
Seasonally adjusted
27 964
27 886
27 680
-1

- nil or rounded to zero (including null cells)

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 deficit of $830m in December 2014, a decrease of $129m (13%) on the deficit in November 2014.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $436m in December 2014, a decrease of $580m (57%) on the deficit in November 2014.


CREDITS (EXPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $374m (1%) to $27,243m. Non-monetary gold rose $428m (52%) and rural goods rose $331m (10%). Non-rural goods fell $417m (2%). Net exports of goods under merchanting remained steady at $43m. Service credits rose $31m (1%).


DEBITS (IMPORTS OF GOODS AND SERVICES)
  • In seasonally adjusted terms, goods and services debits fell $206m (1%) to $27,680m. Intermediate and other merchandise goods fell $296m (3%) and capital goods fell $5m. Non-monetary gold rose $53m (22%) and consumption goods rose $17m. Service debits rose $25m.


2014 SITUATION
  • In original terms, the balance on goods and services for 2014 was deficit of $9.9b, a fall of $0.4b (4%) on the deficit of $10.3b recorded in 2013, resulting from a $7.8b (2%) increase in goods and services credits partly offset by a $7.3b (2%) increase in goods and services debits.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2015 5 March 2015
February 2015 2 April 2015
March 2015 5 May 2015
April 2015 4 June 2015
May 2015 2 July 2015
June 2015 4 August 2015



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 2014
  • on a balance of payments basis, revisions have been applied to:
      • goods credits back to June 2014
      • goods debits back to July 2013
      • services credits back to November 2014
      • services debits back to October 2013.


CHANGES IN THIS AND FORTHCOMING ISSUES

Changes in this issue:
  • impacts on services series due to delays of overseas arrivals and departures data.

Changes in forthcoming issues:
  • changes applied to export data on a merchandise trade basis
  • changes to the AHECC
  • changes to Customs Tariff import classification.

See the Changes in this and forthcoming issues section for details.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals' and 'coal, coke and briquettes' in the balance of payments series.

See the Value adjustments section for details.


RELATED RELEASES

The Australian Harmonized Export Commodity Classification (AHECC) - Electronic Publication, Jan 2012 (cat. no. 1233.0) was updated on the ABS website on 20 November 2014 to include new codes that came into effect on 1 January 2015. Please see Changes to Australian Harmonized Export Commodity Classification (AHECC) section under Changes in this and forthcoming issues for details.


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INQUIRIES

For further information contact Balance of Payments on Canberra (02) 62525540 for Goods, and International Trade in Services on Hobart (03) 6222 5926 for Services.


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