• Summary
• Downloads
• Explanatory Notes
• Related Information
• Past Releases

AUGUST KEY FIGURES

		June 2008	July 2008	August 2008	Jul 08 to Aug 08
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-73	245	563	130
	Seasonally adjusted	365	-697	1 364	. .
CREDITS (Exports of goods & services)
	Trend estimates	22 981	23 559	24 095	2
	Seasonally adjusted	23 245	23 124	24 610	6
DEBITS (Imports of goods & services)
	Trend estimates	23 054	23 314	23 532	1
	Seasonally adjusted	22 880	23 821	23 246	-2
. . not applicable

Balance on Goods and Services

• The trend estimate of the balance on goods and services was a surplus of $563m in August 2008, an increase of $318m on a revised surplus in July 2008.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $1,364m in August 2008, a turnaround of $2,061m on a revised deficit in July 2008.
• The seasonally adjusted surplus was primarily due to the strong rise in non rural and other goods credits and the fall in fuels and lubricants debits.

• Seasonally adjusted, goods and services credits rose $1,486m (6%) to $24,610m. Non-rural goods rose $1,536m (11%) and rural goods rose $79m (4%), while other goods fell $147m (9%). Services credits rose $18m.
• The rise in non-rural goods was largely driven by coal, coke and briquettes, which rose $943m (26%) and metal ores and minerals which rose $215m (5%).

• Seasonally adjusted, goods and services debits fell $575m (2%) to $23,246m. Intermediate and other merchandise goods fell $623m (7%), other goods fell $125m (11%) and consumption goods fell $52m (1%) while capital goods rose $238m (6%). Services debits fell $10m.
• The decrease in intermediate and other merchandise goods was driven by fuels and lubricants, which fell $887m (25%).

• decreased the deficit on goods and services for July 2008 by $21m
• increased the deficit on goods and services for 2007–08 by $2,013m, with:
  • goods and services credits decreasing by $248m (see Revisions to Coal and Iron Ore Prices)
  • goods and services debits increasing by $1,765m, primarily due to the incorporation of the results from the June quarter 2008 Survey of International Trade in Services and revised survey data for earlier periods
• increased the deficit on goods and services for 2006-07 by $596m.