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5368.0 - International Trade in Goods and Services, Australia, July 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 07/09/2012   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a deficit of $400m in July 2012, a fall of $106m (21%) on the deficit in June 2012.

In seasonally adjusted terms, the balance on goods and services was a deficit of $556m in July 2012, a rise of $329m (145%) on the deficit in June 2012.


EXPORTS OF GOODS AND SERVICES

Between June and July 2012, the trend estimate of goods and services credits rose $206m (1%) to $26,352m.

In seasonally adjusted terms, goods and services credits fell $728m (3%) to $25,757m. Non-monetary gold fell $420m (25%), non-rural goods fell $244m (1%) and rural goods fell $81m (3%). Net exports of goods under merchanting rose $5m (23%). Services credits rose $12m.


Exports of goods

GOODS CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Credits


RURAL GOODS

In trend terms, exports of rural goods rose $61m (2%) to $3,014m.

In seasonally adjusted terms, exports of rural goods fell $81m (3%) to $2,985m.

The main component contributing to the fall in seasonally adjusted estimates was other rural, down $78m (6%).

NON-RURAL GOODS

In trend terms, exports of non-rural goods rose $58m to $17,483m.

In seasonally adjusted terms, exports of non-rural goods fell $244m (1%) to $17,143m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • metal ores and minerals, down $181m (3%)
  • other non-rural (incl. sugar and beverages), down $151m (14%).

Partly offsetting these falls were:
  • transport equipment, up $42m (12%)
  • other mineral fuels, up $41m (2%).

For price and volume details, see the Selected commodities section for more details.

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting rose $2m (9%) to $24m.

In seasonally adjusted terms, net exports of goods under merchanting rose $5m (23%) to $27m.

NON-MONETARY GOLD

In trend terms, exports of non-monetary gold rose $79m (5%) to $1,516m.

In original and seasonally adjusted terms, exports of non-monetary gold fell $420m (25%) to $1,283m.


Exports of services
SERVICES CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Credits


In trend terms, services credits rose $7m to $4,315m.

In seasonally adjusted terms, services credits rose $12m to $4,319m.

The main component contributing to the rise in seasonally adjusted estimates was travel, up $24m (1%).

In seasonally adjusted terms, tourism related services credits rose $23m (1%) to $2,798m.


IMPORTS OF GOODS AND SERVICES

Between June and July 2012, the trend estimate of goods and services debits rose $100m to $26,752m.

In seasonally adjusted terms, goods and services debits fell $399m (1%) to $26,313m. Capital goods fell $495m (8%). Intermediate and other merchandise goods rose $102m (1%), consumption goods rose $13m and non-monetary gold rose $2m. Services debits fell $20m.


Imports of goods
GOODS DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Debits


CONSUMPTION GOODS

In trend terms, imports of consumption goods rose $6m to $5,657m.

In seasonally adjusted terms, imports of consumption goods rose $13m to $5,623m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • textiles, clothing and footwear, up $42m (6%)
  • toys, books and leisure goods, up $41m (14%).

Partly offsetting these rises was the non-industrial transport equipment component, down $83m (5%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $63m (1%) to $6,295m.

In seasonally adjusted terms, imports of capital goods fell $495m (8%) to $6,026m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • industrial transport equipment n.e.s., down $169m (18%)
  • civil aircraft and confidentialised items, down $89m (14%)
  • ADP equipment, down $86m (11%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $25m to $9,293m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $102m (1%) to $9,168m.

The main component contributing to the rise in seasonally adjusted estimates was fuels and lubricants, up $223m (8%). This follows a fall of $729m (20%) between May and June 2012.

Partly offsetting this rise was the processed industrial supplies n.e.s. component, down $96m (5%).

NON-MONETARY GOLD

In trend terms, imports of non-monetary gold rose $11m (2%) to $509m.

In original and seasonally adjusted terms, imports of non-monetary gold rose $2m to $531m.


Imports of services
SERVICES DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits


In trend terms, services debits fell $5m to $4,998m.

In seasonally adjusted terms, services debits fell $20m to $4,965m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • transport, down $57m (4%), with passenger transport down $38m (7%)
  • travel, down $54m (3%)
  • maintenance and repair services n.i.e., down $19m (45%).

Partly offsetting these falls was the other services component, up $110m (7%).

In seasonally adjusted terms, tourism related services debits fell $93m (4%) to $2,490m.


Selected commodities

Selected commodities, Quantity and unit value analysis: International merchandise trade basis (a) - Original terms

Change in
Feb 2012
Mar 2012
Apr 2012
May 2012
Jun 2012
Jul 2012
%
%
%
%
%
%

Iron ore

Lump
Quantity
17
-1
23
-17
-2
6
Unit value
-4
1
3
4
-4
-2
Fines
Quantity
17
-8
11
8
-3
4
Unit value
-1
4
3
2
-3
-5

Coal

Hard coking
Quantity
-25
-3
7
8
8
-22
Unit value
-6
-2
-
-
-2
-2
Semi-soft
Quantity
1
10
7
-3
-5
7
Unit value
-12
5
-
-1
-5
-3
Thermal
Quantity
-15
4
16
-7
8
13
Unit value
-4
-
-3
2
-3
-4

- nil or rounded to zero (including null cells)
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.


On an international merchandise trade basis, in original terms (noting the footnote in the above table), between June and July 2012 large value movements were recorded for the following selected commodities:

Iron ore lump rose $47m (4%) with quantities up 6% and unit values down 2%.
Exports to:
  • China rose $90m (12%), quantities up 15% and unit values down 2%
  • Republic of Korea fell $35m (26%), with quantities down 25% and unit values down 1%.

Iron ore fines fell $42m (1%) with quantities up 4% and unit values down 5%.
Exports to:
  • China rose $54m (2%), with quantities up 8% and unit values down 6%
  • Taiwan fell $43m (47%), with quantities down 44% and unit values down 5%.

Hard coking coal fell $383m (24%) with quantities down 22% and unit values down 2%.
Exports to:
  • Taiwan fell $132m (92%) driven by quantities
  • Republic of Korea fell $84m (52%), with quantities down 51% and unit values down 1%
  • China fell $81m (100%), driven by quantities.

Semi-soft coal rose $19m (3%) with quantities up 7% and unit values down 3%.
Exports to:
  • China fell $53m (31%), with quantities down 28% and unit values down 4%
  • India rose $17m (26%), with quantities up 23% and unit values up 3%.

Thermal coal rose $122m (9%) with quantities up 13% and unit values down 4%.
Exports to:
  • China fell $143m (37%), with quantities down 32% and unit values down 6%
  • Republic of Korea rose $125m (86%), with quantities up 100% and unit values down 7%
  • Japan rose $63m (9%), with quantities up 14% and unit values down 4%.


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