5302.0.55.004 - Balance of Payments - Goods and Services, Preliminary Quarterly Estimates, Jun 2015  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 25/08/2015   
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The ABS provides information on Australia's international trade in goods and services in three publications:

  • International Trade in Goods and Services, Australia (cat. no. 5368.0) provides monthly current price estimates for both credits (exports) and debits (imports).
  • This publication provides the following selected broad level preliminary quarterly estimates for the current quarter:
    • current price estimates of the balance on goods and services, and
    • chain volume measures and price indexes for goods debits.
  • Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) provides quarterly estimates in current prices, chain volume measures and price indexes for goods and services credits and debits plus the full balance of payments and international investment position in current prices.

Estimates may be revised between the monthly estimates in cat. no. 5368.0, the preliminary estimates in this publication and the quarterly estimates in cat. no. 5302.0. The June quarter 2015 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) will be released on 1 September 2015.


PRELIMINARY CURRENT PRICE ESTIMATES OF BALANCE ON GOODS AND SERVICES
  • In seasonally adjusted current price terms, the balance on goods and services was a deficit of $9,641m in the June quarter 2015, a rise of $4,860m on the revised March quarter 2015 deficit of $4,781m. The main components were:
    • goods credits, down $4,905m (7%)
      • metal ores and minerals, down $1,584m (8%)
      • other mineral fuels, down $1,453m (22%)
      • coal, coke and briquettes, down $1,150m (11%)
      • non-monetary gold, down $1,126m (28%).
    • services credits, up $89m (1%)
      • other services, up $44m (1%)
      • travel, up $33m.
    • goods debits, up $363m (1%)
      • fuel and lubricants, up $1,020m (14%)
      • non-industrial transport equipment, up $649m (13%)
      • industrial transport equipment n.e.s., up $304m (16%)
      • capital goods n.e.s., down $1,013m (36%)
      • civil aircraft and confidentialised items, down $837m (41%).
    • services debits, down $319m (2%)
      • other services, down $148m (2%)
      • travel, down $103m (1%)
      • maintenance and repair services n.i.e., down $79m (48%).


PRELIMINARY ESTIMATES OF CHAIN VOLUME MEASURES AND PRICE INDEXES FOR GOODS DEBITS (footnote 1, footnote 2)
  • In seasonally adjusted terms, goods imports volumes fell 0.4% and the implicit price deflator rose 0.9% during the June quarter 2015.
  • In original terms, the chain Laspeyres price index rose 1.5% and the implicit price deflator rose 0.7%.


CHANGES IN FORTHCOMING ISSUES

ANNUAL SEASONAL RE-ANALYSIS

The seasonally adjusted and trend estimates of goods, services, primary income and secondary income will be revised in the September quarter 2015 issue as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the quarterly processing cycle and assesses the appropriateness of any prior corrections.


NEW BASE YEAR AND RE-REFERENCING OF CHAIN VOLUME ESTIMATES

A new base year 2013-14 will be introduced into chain volume estimates and implicit price deflators in the September quarter 2015 issue. As a result, the chain volume estimate series and implicit price deflators series will be re-referenced to 2013-14.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email client.services@abs.gov.au or Balance of Payments on Canberra (02) 6252 5540. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.


Footnote:
1 Reference year for chain volume measures and price index is 2012–13. See paragraphs 16 to 18 of the Explanatory Notes.

2 In this commentary movements in indexes are based on data to four decimal places.