International Trade in Goods and Services, Australia

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Statistics about international trade in goods and services, on a balance of payments and international trade basis

Reference period
June 2020
Released
4/08/2020

Key statistics

  • The balance on goods and services surplus rose $861m to $8,202m in June 2020.
  • Goods and services credits rose $1,219m (3%) to $36,186m.
  • Goods and services debits rose $358m (1%) to $27,984m.

Main features

Key figures

 Apr 2020May 2020Jun 2020May 20 to Jun 20
$m$m$m% change
BALANCE ON GOODS AND SERVICES    
 Trend estimates(a)nananana
 Seasonally adjusted7 8647 3418 20212
CREDITS (Exports of goods & services)    
 Trend estimates(a)nananana
 Seasonally adjusted37 47834 96736 1863
DEBITS (Imports of goods & services)    
 Trend estimates(a)nananana
 Seasonally adjusted29 61427 62627 9841

na not available
a. Trend series suspended from March 2019
 

Goods and services summary

  • In seasonally adjusted terms, goods and services credits rose $1,219m (3%) to $36,186m.
  • Non-monetary gold rose $687m (41%)
  • Non-rural goods rose $144m (1%)
  • Rural goods rose $125m (4%)
  • Net exports of goods under merchanting rose $2m (4%)
  • Services rose $260m (4%).
     

In seasonally adjusted terms, goods and services debits rose $358m (1%) to $27,984m.

  • Consumption goods rose $549m (7%)
  • Intermediate and other merchandise goods rose $429m (5%)
  • Non-monetary gold fell $534m (40%)
  • Capital goods fell $125m (2%)
  • Services rose $40m (1%).
     

2019-20 situation

    In original terms, the balance on goods and services for 2019-20 was a surplus of $77.4b, an increase of $28.3b on the surplus of $49.1b recorded in 2018-19, resulting from a $22.4b (5%) decrease in goods and services debits and a $5.9b (1%) increase in goods and services credits.

    Seasonal adjustment

    International Accounts uses the concurrent seasonal adjustment method, meaning that seasonal factors are re-estimated each time new data becomes available. If not appropriately accounted for, unusual events, such as COVID-19, can distort estimates calculated using this method. From March 2020, seasonal factors for series that have been notably impacted by COVID-19 will be calculated using data up to and including February 2020, then projected from March 2020 onwards. This approach, known as the forward factor method, ensures that the seasonal factors are not distorted by COVID-19 impacts.

    The ABS has advised users that it had moved to using forward factors for seasonal analysis of a number of series, including Travel Services. Current ABS (and international practice) requires at least three years of data to assess whether a change in the seasonal pattern has occurred. Should COVID-19 result in a long-term change to the seasonal pattern then revisions to these series may occur in the future. The ABS will consult with users on any future methods changes to seasonal adjustment and potential revisions.

    For more information on interpreting seasonally adjusted estimates of International travel services please see the May 2020 feature article International Travel Services time series which outlines the matter in greater detail.

    Suspension of trend estimates

    The trend series attempts to measure underlying behaviour in international trade activity. In the short term, this measurement will be significantly affected by the current COVID-19 pandemic and subsequent changes to regular patterns in international trade that will occur during this time. If the trend estimates in this publication were to be calculated without fully accounting for this unusual event, they would provide a misleading view of underlying international trade activity.

    It may be some time before the underlying trend in international trade activity can be accurately estimated. The trend series has therefore been suspended from March 2019 in the time series and will be reinstated when more certainty emerges in the underlying trend in international trade.

    COVID-19 in June month 2020

    Quality assurance undertaken by the ABS confirmed that COVID-19 did not result in quality impacts to International Trade in Goods and Services statistics for June 2020. For information on the expected economic impacts of COVID-19, please see the ABS Chief Economist Series paper Measuring natural disasters in the Australian economy.

    Analysis and comments

    Balance on goods and services

    In seasonally adjusted terms, the balance on goods and services was a surplus of $8,202m in June 2020, an increase of $861m on the surplus in May 2020.

    The sum of seasonally adjusted balances for the three months to June 2020 was a surplus of $23,407m, an increase of $4,176m on the surplus of $19,231m for the three months to March 2020. However, if seasonal factors used in compiling the quarterly balance of payments are applied, the preliminary June quarter 2020 surplus was $24,086m, an increase of $5,033m on the March quarter 2020 surplus of $19,053m.

    Goods and services summary(a), seasonally adjusted

        Change in:
    Apr
    2020
    May
    2020
    Jun
    2020
    Jun
    2020
    Jun
    2020
    $m$m$m$m%
    Seasonally adjusted 
    BALANCE on goods and services7 8647 3418 20286112
    CREDITS     
     Total goods and services37 47834 96736 1861 2193
      Total goods31 45928 83829 7969583
       Rural goods(b)3 9763 5013 6261254
       Non-rural goods(b)25 54223 61523 7591441
       Net exports of goods under merchanting(c)45454724
       Non-monetary gold(c)1 8961 6762 36368741
      Total services6 0196 1306 3902604
    DEBITS     
     Total goods and services-29 614-27 626-27 9843581
      Total goods-25 735-23 787-24 1053191
       Consumption goods-8 872-7 668-8 2175497
       Capital goods-6 078-5 612-5 487-125-2
       Intermediate and other merchandise goods-10 156-9 166-9 5954295
       Non-monetary gold(c)-630-1 340-806-534-40
      Total services-3 878-3 839-3 879401

    a. For details on Sign convention, see the Methodology page.
    b. For all time periods, estimates for sugar, sugar preparations and honey are included in Non-rural goods.
    c. This component is not seasonally adjusted.
    d. Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For details on seasonally adjusted and trend estimates, see the Methodology page.
     

    Exports of goods and services

    In seasonally adjusted terms, goods and services credits rose $1,219m (3%) to $36,186m.

    • Non-monetary gold rose $687m (41%)
    • Non-rural goods rose $144m (1%)
    • Rural goods rose $125m (4%)
    • Net exports of goods under merchanting rose $2m (4%)
    • Services rose $260m (4%).
       

    Exports of goods

    1. Trend series suspended from March 2019
       

    Goods credits, seasonally adjusted

        Change in:
    Apr 2020May 2020Jun 2020Jun 2020Jun 2020
    $m$m$m$m%
    Total goods credits31 45928 83829 7969583
     General merchandise29 51827 11727 3862691
      Rural goods3 9763 5013 6261254
       Meat and meat preparations1 3481 2671 245-22-2
       Cereal grains and cereal preparations60141154613533
       Wool and sheepskins2211521893724
       Other rural(a)1 8071 6711 647-24-1
      Non-rural goods25 54223 61523 7591441
       Metal ores and minerals(b)11 10710 87711 8189419
       Coal, coke and briquettes(c)4 7773 8163 360-456-12
       Other mineral fuels(b)(d)4 7814 3503 562-788-18
       Metals (excl. non-monetary gold)853904939354
       Machinery8987878789112
       Transport equipment3262642973313
       Other manufactures1 7851 6631 89022714
       Other non-rural (incl. sugar and beverages)(a)913832891597
       Goods procured in ports by carriers(d)10112312411
     Net exports of goods under merchanting(e)45454724
     Non-monetary gold(e)1 8961 6762 36368741

    a. For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
    b. From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
    c. From July 1971 to June 2005, only a length-of-month adjustment has been applied to this component. From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
    d. In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
    e. This component is not seasonally adjusted.
     

    Rural goods

    In seasonally adjusted terms, exports of rural goods rose $125m (4%) to $3,626m.

    The main component contributing to the rise in seasonally adjusted estimates was cereal grains and cereal preparations, up $135m (33%).

    Non-rural goods

    In seasonally adjusted terms, exports of non-rural goods rose $144m (1%) to $23,759m.

    The main components contributing to the rise in seasonally adjusted estimates were:

    • metal ores and minerals, up $941m (9%)
    • other manufactures, up $227m (14%).
       

    Partly offsetting these rises were:

    • other mineral fuels, down $788m (18%)
    • coal, coke and briquettes, down $456m (12%).
       

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

    Net exports of goods under merchanting

    In original and seasonally adjusted terms, net exports of goods under merchanting rose $2m (4%) to $47m.

    Non-monetary gold

    In original and seasonally adjusted terms, exports of non-monetary gold rose $687m (41%) to $2,363m.

    Exports of services

    1. Trend series suspended from March 2019
       

    Services credits, seasonally adjusted

        Change in:
    Apr 2020May 2020Jun 2020Jun 2020Jun 2020
    $m$m$m$m%
    Total services credits6 0196 1306 3902604
     Manufacturing services on physical inputs owned by others(a)-----
     Maintenance and repair services n.i.e.(a)211--
     Transport335334333-1-
      Passenger(b)567117
      Freight(c)252626--
      Other178177174-3-2
      Postal and courier services(d)12612512611
     Travel3 2853 3853 6332487
     Other services2 3982 4092 424151
    Memorandum item     
     Tourism related services credits(e)3 2903 3913 6402497

    - nil or rounded to zero (including null cells).
    a. This component is not seasonally adjusted.
    b. Passenger services includes agency fees and commissions for air transport.
    c. In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
    d. Postal and courier services includes indirect commissions for sea transport.
    e. For details on Tourism related services, see the Methodology page.
     


    In seasonally adjusted terms, services credits rose $260m (4%) to $6,390m.

    In original terms travel service credits fell $11m.

    In seasonally adjusted terms, tourism related services credits rose $249m (7%) to $3,640m.

    In seasonally adjusted terms, total services credits contributed 18% of total goods and services exported.

    Imports of goods and services

    In seasonally adjusted terms, goods and services debits rose $358m (1%) to $27,984m.

    • Consumption goods rose $549m (7%)
    • Intermediate and other merchandise goods rose $429m (5%)
    • Non-monetary gold fell $534m (40%)
    • Capital goods fell $125m (2%)
    • Services rose $40m (1%).
       

    Imports of goods

    1. Trend series suspended from March 2019
       

    Goods debits(a), seasonally adjusted

        Change in:
    Apr 2020May 2020Jun 2020Jun 2020Jun 2020
    $m$m$m$m%
    Total goods debits-25 735-23 787-24 1053181
     General merchandise-25 105-22 447-23 2998524
      Consumption goods-8 872-7 668-8 2175497
       Food and beverages, mainly for consumption-1 592-1 452-1 534826
       Household electrical items-504-481-63815733
       Non-industrial transport equipment-1 778-942-709-233-25
       Textiles, clothing and footwear-1 615-1 577-1 83125416
       Toys, books and leisure goods-518-507-5766914
       Consumption goods n.e.s.-2 865-2 709-2 9292208
      Capital goods-6 078-5 612-5 487-125-2
       Machinery and industrial equipment-1 908-1 884-1 954704
       ADP equipment-1 450-1 326-916-410-31
       Telecommunications equipment-1 160-1 162-1 133-29-2
       Civil aircraft and confidentialised items(b)(c)-310-210-159-51-24
       Industrial transport equipment n.e.s.-701-532-65011822
       Capital goods n.e.s.(d)-548-498-67417635
      Intermediate and other merchandise goods-10 156-9 166-9 5954295
       Food and beverages, mainly for industry-187-197-212158
       Primary industrial supplies n.e.s.(d)-160-167-148-19-11
       Fuels and lubricants(c)-1 884-1 267-1 62435728
       Parts for transport equipment-1 088-956-973172
       Parts for ADP equipment-58-99-83-16-16
       Other parts for capital goods-1 591-1 568-1 594272
       Organic and inorganic chemicals-409-375-350-25-7
       Paper and paperboard-217-218-218--
       Textile yarn and fabrics-124-105-1221716
       Iron and steel-252-267-262-5-2
       Plastics-420-395-416215
       Processed industrial supplies n.e.s.-3 611-3 412-3 437251
       Other merchandise goods(b)(e)-32-18-321478
       Goods procured in ports by carriers(c)-123-123-123--
     Non-monetary gold(c)-630-1 340-806-534-40

    - nil or rounded to zero (including null cells).
    a. For details on sign conventions, see paragraph 15 of the Methodology page.
    b. From July 2008, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Civil aircraft and confidentialised items. For earlier periods, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Other merchandise goods.
    c. This component is not seasonally adjusted.
    d. In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
    e. From July 1981, this component is not seasonally adjusted.
     

    Consumption goods

    In seasonally adjusted terms, imports of consumption goods rose $549m (7%) to $8,217m.

    The main components contributing to the rise in seasonally adjusted estimates were:

    • textiles, clothing and footwear, up $254m (16%)
    • consumption goods n.e.s., up $220m (8%)
    • household electrical items, up $157m (33%).
       

    Partly offsetting these rises was non-industrial transport equipment, down $233m (25%).

    Capital goods

    In seasonally adjusted terms, imports of capital goods fell $125m (2%) to $5,487m.

    The main component contributing to the fall in seasonally adjusted estimates was ADP equipment, down $410m (31%).

    Partly offsetting this fall were:

    • capital goods n.e.s., up $176m (35%)
    • industrial transport equipment n.e.s., up $118m (22%).
       

    Intermediate and other merchandise goods

      In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $429m (5%) to $9,595m.

      The main component contributing to the rise in seasonally adjusted estimates was fuels and lubricants, up $357m (28%).

      Non-monetary gold

      In original and seasonally adjusted terms, imports of non-monetary gold fell $534m (40%) to $806m.

      Imports of services

      1. Trend series suspended from March 2019
         

      Services debits(a), seasonally adjusted

          Change in:
      Apr 2020May 2020Jun 2020Jun 2020Jun 2020
      $m$m$m$m%
      Total services debits-3 878-3 839-3 879401
       Manufacturing services on physical inputs owned by others(b)-----
       Maintenance and repair services n.i.e.(b)-25-29-572897
       Transport-1 035-972-965-7-1
        Passenger(c)-7-7-7--
        Freight-1 001-938-933-5-1
        Other(b)-19-19-19--
        Postal and courier services(d)(e)-8-8-6-2-25
       Travel-40-42-49717
       Other services-2 778-2 796-2 80913-
      Memorandum item     
       Tourism related services debits(f)-47-49-55612

      - nil or rounded to zero (including null cells).
      a. For details on sign conventions, see the Methodology page.
      b. This component is not seasonally adjusted.
      c. Passenger services includes agency fees and commissions for air transport.
      d. Postal and courier services includes indirect commissions for sea transport.
      e. In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
      f. For details on Tourism related services, see the Methodology page.
       


      In seasonally adjusted terms, services debits rose $40m (1%) to $3,879m.

      In seasonally adjusted terms, tourism related services debits rose $6m (12%) to $55m.

      In seasonally adjusted terms, total services debits contributed 14% of total goods and services imported.

      COVID 19 and the seasonal adjustment of international travel services

      Impact on June 2020 aggregate, difference between travel services in seasonally adjusted (forward factor) and original terms

      Selected commodities, quantity and unit value analysis - international merchandise trade basis(a) - original terms

      Revisions

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      Related releases

      New COVID-19 publication

      In response to the global COVID-19 crisis the ABS has released a new publication, International Merchandise Trade, Preliminary, Australia (cat. no. 5368.0.55.024). This release provides preliminary estimates for Australian international merchandise (goods) trade on a monthly basis to help measure the economic impact of COVID-19. These estimates are compiled from administrative data (customs records) sourced from the Department of Home Affairs and are subject to revision. This publication will run monthly until further notice. The final May monthly estimates will be published in International Trade in Goods and Services, Australia (cat. no. 5368.0). For more information on the range of additional products released by the ABS to help assess the impact of COVID-19 please see the COVID-19: Additional products to measure the impact page.

      Value adjustments

      International merchandise trade exports data presented in this publication are based on information reported by exporters to the Department of Home Affairs (Home Affairs). At the time of initial reporting to Home Affairs, the final prices at which transactions take place are not known for some commodities. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to Home Affairs.

      For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to Home Affairs. When additional information on quantity and/or unit price for these commodities is available, the ABS may adjust the data to reflect actual transaction values.

      Iron ore adjustments are applied on an international merchandise trade basis at the Australian Harmonized Export Commodity Classification (AHECC) level. Coal, coke and briquettes are adjusted on a balance of payments basis in current price, original terms. When actual final transaction prices become available estimates are replaced with these data.

      In most instances, transfer of ownership occurs when goods cross the customs frontier. In certain circumstances the ownership of large value capital expenditure items can occur prior to the items crossing the customs frontier. The ABS may adjust the relevant balance of payments series to record the timing when transfer of ownership was affected.

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      Data downloads - time series spreadsheets

      All time series spreadsheets

      Table 1. Goods and services, summary - seasonally adjusted and trend estimates, current prices

      Table 2. Goods and services, summary - original, current prices

      Table 3. Goods credits, original, current prices

      Table 4. Goods debits, original, current prices

      Table 5. Goods credits, seasonally adjusted, current prices

      Table 6. Goods debits, seasonally adjusted, current prices

      Table 7. Goods credits, trend estimates, current prices

      Table 8. Goods debits, trend estimates, current prices

      Table 9. Services, summary - original, current prices

      Table 10. Services, summary - seasonally adjusted and trend estimates, current prices

      Table 11a. Services credits, original, current prices - quarterly

      Table 11b. Services debits, original, current prices - quarterly

      Table 12a. Merchandise exports, standard international trade classification (1 and 2 digit), FOB value

      Table 12b. Merchandise exports, standard international trade classification (3 digit), FOB value

      Table 13a. Merchandise imports, standard international trade classification (1 and 2 digit), customs value

      Table 13b. Merchandise imports, standard international trade classification (3 digit), customs value

      Table 14a. Merchandise exports, country and country groups, FOB value

      Table 14b. Merchandise imports, country and country groups, customs value

      Table 15a. Merchandise exports, state and Australia, FOB value

      Table 15b. Merchandise imports, state and Australia, customs value

      Table 16. Period average exchange rates, units of foreign currency per Australian dollar

      Table 17. Summary of revisions, goods and services

      Table 31. Merchandise exports, broad economic category, FOB value

      Table 32a. Merchandise exports, industry (ANZSIC 2006), FOB value

      Table 32b. Merchandise exports, industry (ANZSIC 1993), FOB value

      Table 33. Merchandise imports, broad economic category, customs value

      Table 34. Merchandise imports, balance of payments broad economic category, customs value

      Table 35a. Merchandise imports, industry (ANZSIC 2006), customs value

      Table 35b. Merchandise imports, industry (ANZSIC 1993), customs value

      Table 36a. Merchandise exports, state of origin New South Wales, by country and country groups, FOB value

      Table 36b. Merchandise exports, state of origin Victoria, by country and country groups, FOB value

      Table 36c. Merchandise exports, state of origin Queensland, by country and country groups, FOB value

      Table 36d. Merchandise exports, state of origin South Australia, by country and country groups, FOB value

      Table 36e. Merchandise exports, state of origin Western Australia, by country and country groups, FOB value

      Table 36f. Merchandise exports, state of origin Tasmania, by country and country groups, FOB value

      Table 36g. Merchandise exports, state of origin Northern Territory, by country and country groups, FOB value

      Table 36h. Merchandise exports, state of origin Australian Capital Territory, by country and country groups, FOB value

      Table 36i. Merchandise exports, state of origin not available, by country and country groups, FOB value

      Table 36j. Merchandise exports, re-exports, by country and country groups, FOB value

      Table 37a. Merchandise imports, state of destination New South Wales, by country and country groups, customs value

      Table 37b. Merchandise imports, state of destination Victoria, by country and country groups, customs value

      Table 37c. Merchandise imports, state of destination Queensland, by country and country groups, customs value

      Table 37d. Merchandise imports, state of destination South Australia, by country and country groups, customs value

      Table 37e. Merchandise imports, state of destination Western Australia, by country and country groups, customs value

      Table 37f. Merchandise imports, state of destination Tasmania, by country and country groups, customs value

      Table 37g. Merchandise imports, state of destination Northern Territory, by country and country groups, customs value

      Table 37h. Merchandise imports, state of destination Australian Capital Territory, by country and country groups, customs value

      Table 37i. Merchandise imports, state of destination not available, by country and country groups, customs value

      Table 91. Monthly combined seasonal adjustment factors

      Data downloads - data cubes

      Table 18. Balance of payments broad economic categories (detailed level), by country, latest 7 months, customs value, ($million)

      Table 19. Balance of payments broad economic categories (1 and 2 digit), by country, latest 7 months, customs value, ($million)

      History of changes

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