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5368.0 - International Trade in Goods and Services, Australia, Feb 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/04/2011   
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FEBRUARY KEY FIGURES

Dec 2010
Jan 2011
Feb 2011
Jan 11 to Feb 11
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
1 868
1 653
1 390
. .
Seasonally adjusted
1 778
1 433
-205
. .
CREDITS (Exports of goods & services)
Trend estimates
24 213
24 111
24 000
-
Seasonally adjusted
24 508
23 397
22 843
-2
DEBITS (Imports of goods & services)
Trend estimates
22 345
22 458
22 611
1
Seasonally adjusted
22 730
21 964
23 048
5

. . not applicable
- nil or rounded to zero (including null cells)

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



FEBRUARY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $1,390m in February 2011, a decrease of $263m on the revised surplus in January 2011.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $205m in February 2011, a turnaround of $1,638m on the revised surplus in January 2011.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits fell $554m (2%) to $22,843m. Non-monetary gold fell $688m (45%) and non-rural goods fell $253m (2%). Rural goods rose $275m (12%) and net exports of goods under merchanting remained steady. Services credits rose $112m (3%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $1,084m (5%) to $23,048m. Intermediate and other merchandise goods rose $854m (12%), capital goods rose $92m (2%), non-monetary gold rose $53m (19%) and consumption goods rose $11m. Services debits rose $75m (2%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2011 10 May 2011
April 2011 2 June 2011
May 2011 5 July 2011
June 2011 3 August 2011
July 2011 8 September 2011
August 2011 4 October 2011



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services. The international trade in goods and services on a balance of payments basis series have been revised from July 2009 onwards.

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 2009-2010 by $30m
  • decreased the surplus on goods and services for the 7 months to January 2011 by $388m.

Seasonally adjusted and trend series have been revised due to the incorporation of the revisions and estimates for the latest month.


IRON ORE AND COAL PRICES

An adjustment has been made to the value of the 'metal ores and minerals' component in the balance of payments series. See the section Commodity prices adjustment for details.


RELATED PUBLICATIONS

The following publications have recently been released and are detailed in the Related publications section:
  • Information paper: Proposed changes to statistical codes in the AHECC, 2012
  • Characteristics of Australian Exporters, 2009-10.


IMPACT OF THE FLOODS

The collection and processing of data included in this publication were not disrupted. See the section Impact of the floods for details.


JAPANESE EARTHQUAKE AND TSUNAMI

The earthquake and tsunami events in Japan occurred in March 2011. These events have not impacted the activity in this publication. The ABS expects the economic impact on trade between Australia and Japan to be reflected in forthcoming issues.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.


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