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5368.0 - International Trade in Goods and Services, Australia, Jun 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/08/2012   
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JUNE KEY FIGURES

Apr 2012
May 2012
Jun 2012
May 12 to Jun 12
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-484
-390
-247
. .
Seasonally adjusted
20
-313
9
. .
CREDITS (Exports of goods & services)
Trend estimates
25 794
26 090
26 411
1
Seasonally adjusted
26 132
26 728
26 629
-
DEBITS (Imports of goods & services)
Trend estimates
26 278
26 480
26 659
1
Seasonally adjusted
26 112
27 041
26 619
-2

. . not applicable
- 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



JUNE KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a deficit of $247m in June 2012, a fall of $143m on the deficit in May 2012.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $9m in June 2012, a turnaround of $322m on the deficit in May 2012.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits fell $99m to $26,629m. Non-rural goods fell $527m (3%). Non-monetary gold rose $246m (17%), rural goods rose $171m (6%), and net exports of goods under merchanting rose $1m (5%). Services credits rose $9m.


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits fell $422m (2%) to $26,619m. Intermediate and other merchandise goods fell $568m (6%) and consumption goods fell $124m (2%). Capital goods rose $338m (6%) and non-monetary gold rose $18m (4%). Services debits fell $86m (2%).


2011-12 SITUATION
  • In original terms, the balance on goods and services for 2011-12 was a surplus of $5.8b, a fall of $15.3b on the surplus of $21.2b recorded in 2010-11, resulting from a $18.9b (6%) increase in goods and services credits offset by a $34.2b (12%) increase in goods and services debits.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
July 2012 7 September 2012
August 2012 3 October 2012
September 2012 5 November 2012
October 2012 7 December 2012
November 2012 8 January 2013
December 2012 5 February 2013



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services:
  • on a recorded trade basis, international merchandise exports and imports have been revised back to December 2011
  • on a balance of payments basis, goods have been revised back to December 2011, and services to October 2011.

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 decreased the surplus on goods and services for the eleven months to May 2012 by $441m.


CHANGES IN FORTHCOMING ISSUES

Changes in forthcoming issues:
  • Australian customs tariff codes for 1 July 2012
  • Amendments to existing customs tariff code correspondences and free standing descriptors
  • Australian Harmonized Export Commodity Classification (AHECC) Codes for 1 July 2012
  • Updates to the major commodities listing for international merchandise trade.

See the Changes in forthcoming issues section for details.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals' and 'capital goods n.e.s.' components in the balance of payments series.

See the Commodity value adjustment section for details.


FEATURE ARTICLE

A feature article Export and Import Invoice Currencies, June 2012 has been included in this publication. This article analyses the major currencies used to invoice merchandise trade, and highlights which goods are invoiced in these currencies.

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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