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5302.0.55.004 - Balance of Payments - Goods and Services, Preliminary Quarterly Estimates, Jun 2014  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 26/08/2014   
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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 2014 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) will be released on 2 September 2014.


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 $4,691m in the June quarter 2014, a turnaround of $7,258m on the revised March quarter 2014 surplus of $2,567m. The main components contributing to the balance on goods and services were:
    • goods credits, down $6,431m (9%)
      • metal ores and minerals, down $2,857m (11%)
      • coal, coke and briquettes, down $1,384m (13%)
      • non-monetary gold, down $693m (18%).
    • services credits, up $204m (1%)
      • travel, up $122m (1%)
      • other services, up $65m (1%).
    • goods debits, up $664m (1%)
      • capital goods n.e.s., up $1,097m (65%)
      • processed industrial supplies n.e.s., up $342m (5%)
      • other parts for capital goods, down $303m (8%)
      • primary industrial supplies n.e.s., down $163m (33%)
      • consumption goods n.e.s., down $143m (2%).
    • services debits, up $366m (2%)
      • other services, up $275m (5%)
      • travel, up $234m (3%)
      • maintenance and repair services n.i.e., down $101m (43%).


PRELIMINARY ESTIMATES OF CHAIN VOLUME MEASURES AND PRICE INDEXES FOR GOODS DEBITS (footnote 1, footnote 2)
  • In seasonally adjusted terms, goods imports volumes rose 3.7% and the implicit price deflator fell 2.6% during the June quarter 2014.
  • In original terms, the chain Laspeyres price index fell 2.9% and the implicit price deflator fell 3.1%.


CHANGES IN FORTHCOMING ISSUES OF RELATED RELEASES

From the June quarter 2014 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) current price and chain volume measures for international merchandise trade by state will be published as additional time series spreadsheet tables.

The format for these tables and new series IDs are included in mock-up tables which are available on the ABS website as additional information to the March quarter 2014 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) from 26 August 2014.

These series are replacements for similar estimates that were previously published in Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0).


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 2011–12. See paragraphs 16 to 18 of the Explanatory Notes.

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



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Commonwealth of Australia 2014

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