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FEATURE ARTICLE: QUARTERLY STATE DATA ON A BALANCE OF PAYMENTS BASIS


INTRODUCTION

This article has been produced in response to user interest in goods and services data on a balance of payments basis at the individual state level. Time series have been compiled for current prices and chain volume measures for goods and services imports by state of final destination and for goods and services exports by state of origin or port of loading. The data are experimental and the ABS would appreciate receiving any feedback from stakeholders to improve its usability.


BACKGROUND

Balance of payments goods and services data are currently compiled from international merchandise trade and international trade in services statistics collected from the Australian Customs and Border Protection Service (Customs and Border Protection) and the Survey of International Trade in Services. While international merchandise trade statistics record the physical movement of goods across the customs frontier, the balance of payments records transactions on a change of ownership basis. Consistent with international statistical standards for balance of payments compilation, the ABS applies a series of adjustments to international merchandise trade data at the commodity level, to ensure transactions are correctly recorded in terms of timing and coverage on a balance of payments basis.

State data are currently available on a monthly basis for international merchandise trade in the publication International Trade in Goods and Services, Australia (cat. no. 5368.0) and for international trade in services on an annual basis in the publications International Trade in Services by Country, by State and by Detailed Services Category, Financial Year (cat. no. 5368.0.55.003) and International Trade in Services by Country, by State and by Detailed Services Category, Calendar Year (cat. no. 5368.0.55.004). These data are the primary source for balance of payments state statistics.


METHOD OF DERIVATION

In order to compile goods and services state statistics on a balance of payments basis, a number of derivations are required:

Goods

• Exports are allocated to the state of origin where this information is available as reported to Customs and Border Protection. For re-exports, that is, exports of goods which have been previously imported and have not undergone significant change, state allocation is based on the port of loading. Imports are allocated to the state of final destination where this information is available as reported to Customs and Border Protection.
• Adjustments for which there is no specific state information but that demonstrate obvious patterns of trade are allocated based on the underlying international merchandise trade state data. For example, balance of payments exports can include adjustments to the values of iron ore and coal to account for updated unit price information as it becomes available. These adjustments are applied based on the proportional value of international merchandise trade exports of coal and iron ore for each state.
• Where there is sufficient information to allocate adjustments to a specific state these are applied directly to that state. For example, a number of coverage adjustments are made to capture imports of capital goods that do not cross the customs frontier and are not recorded in international merchandise trade statistics. These transactions are investigated independently and allocated to the state of final destination in the relevant time period.
• Adjustments that are modelled on data that do not have origin and destination information available, such as the Low Value Threshold adjustment, are proportionally allocated across the states by the estimated resident population of each state in the relevant time period, which is obtained from the quarterly publication Australian Demographic Statistics (cat. no. 3101.0).

Current Price, Goods and Services by State on a Balance of Payments basis: Original
	Sep Qtr 2013	Dec Qtr 2013	Mar Qtr 2014	Jun Qtr 2014	Sep Qtr 2014	Dec Qtr 2014
Goods and services credits ($m)
Australia Total	82 618	84 869	83 140	80 438	80 731	82 412
New South Wales	17 040	17 278	16 411	16 279	17 269	17 541
Victoria	9 983	9 971	9 928	10 444	10 257	10 815
Queensland	14 765	14 816	13 172	13 764	14 068	15 397
South Australia	3 688	3 768	3 952	3 827	3 542	3 632
Western Australia	33 780	35 529	36 319	32 725	32 374	31 516
Tasmania	np	np	np	np	np	np
Northern Territory	np	np	np	np	np	np
Australian Capital Territory	338	336	333	315	374	371
Goods and services debits ($m)
Australia Total	-87 679	-87 773	-80 336	-82 836	-86 317	-86 990
New South Wales	-31 289	-32 008	-28 809	-29 674	-31 798	-33 568
Victoria	-21 937	-22 157	-20 448	-21 271	-21 951	-22 239
Queensland	-14 910	-14 359	-13 566	-12 910	-14 022	-12 944
South Australia	-3 068	-2 880	-2 774	-3 014	-2 817	-2 865
Western Australia	np	np	np	np	np	np
Tasmania	-380	-354	-350	-369	-476	-330
Northern Territory	np	np	np	np	np	np
Australian Capital Territory	-480	-486	-444	-482	-500	-501
np not available for publication but included in totals where applicable, unless otherwise indicated

Chain Volume Measures, Goods and Services by State on a Balance of Payments basis: Original
	Sep Qtr 2013	Dec Qtr 2013	Mar Qtr 2014	Jun Qtr 2014	Sep Qtr 2014	Dec Qtr 2014
Goods and services credits ($m)
Australia Total	79 072	81 368	77 936	81 475	85 114	87 212
New South Wales	16 541	16 740	15 556	15 915	16 917	17 145
Victoria	9 361	9 213	8 935	9 436	9 249	9 624
Queensland	14 968	15 196	13 300	14 916	15 295	16 176
South Australia	3 523	3 567	3 582	3 566	3 227	3 469
Western Australia	31 548	33 551	33 844	34 738	37 754	35 865
Tasmania	np	np	np	np	np	np
Northern Territory	np	np	np	np	np	np
Australian Capital Territory	332	327	323	307	365	360
Goods and services debits ($m)
Australia Total	-81 964	-82 291	-73 098	-77 558	-81 029	-80 253
New South Wales	-29 232	-30 108	-26 282	-27 795	-29 827	-30 600
Victoria	-20 454	-20 655	-18 464	-19 728	-20 436	-20 354
Queensland	-13 927	-13 347	-12 248	-12 002	-13 121	-12 144
South Australia	-2 856	-2 698	-2 524	-2 814	-2 639	-2 637
Western Australia	np	np	np	np	np	np
Tasmania	-352	-332	-317	-342	-446	-296
Northern Territory	np	np	np	np	np	np
Australian Capital Territory	-442	-447	-396	-437	-453	-440
np not available for publication but included in totals where applicable, unless otherwise indicated