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JANUARY KEY FIGURES

		Nov 2017	Dec 2017	Jan 2018	Dec 17 to Jan 18
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	256	149	94	-37
	Seasonally adjusted	252	-1 146	1 055	(a)..
CREDITS (Exports of goods & services)
	Trend estimates	32 411	32 688	33 000	1
	Seasonally adjusted	31 975	32 530	33 924	4
DEBITS (Imports of goods & services)
	Trend estimates	32 155	32 539	32 907	1
	Seasonally adjusted	31 722	33 676	32 869	-2
. . not applicable
(a) See paragraph 15 of the Explanatory Notes.

Balance on Goods and Services

• In trend terms, the balance on goods and services was a surplus of $94m in January 2018, a decrease of $55m on the surplus in December 2017.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $1,055m in January 2018, a turnaround of $2,201m on the deficit in December 2017.

• In seasonally adjusted terms, goods and services credits rose $1,394m (4%) to $33,924m. Non-rural goods rose $869m (4%) and non-monetary gold rose $770m (54%). Rural goods fell $312m (8%) and net exports of goods under merchanting fell $9m (17%). Services credits rose $77m (1%).

• In seasonally adjusted terms, goods and services debits fell $807m (2%) to $32,869m. Consumption goods fell $586m (7%), non-monetary gold fell $95m (19%), capital goods fell $90m (1%) and intermediate and other merchandise goods fell $68m (1%). Services debits rose $31m.