JULY KEY FIGURES

		May 2009	June 2009	July 2009	Jun 09 to Jul 09
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-113	-687	-1 198	. .
	Seasonally adjusted	-763	-538	-1 556	. .
CREDITS (Exports of goods & services)
	Trend estimates	21 056	20 356	19 808	-3
	Seasonally adjusted	20 073	20 324	20 041	-1
DEBITS (Imports of goods & services)
	Trend estimates	21 169	21 043	21 007	-
	Seasonally adjusted	20 835	20 862	21 598	4
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services

JULY KEY POINTS


BALANCE ON GOODS AND SERVICES

• The trend estimate of the balance on goods and services was a deficit of $1,198m in July 2009, an increase of $511m (74%) on a revised deficit in June 2009.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $1,556m in July 2009, an increase of $1,018m on a revised deficit in June 2009.

CREDITS (EXPORTS OF GOODS & SERVICES)

• Seasonally adjusted, goods and services credits fell $283m (1%) to $20,041m. Other goods fell $292m (22%) with the non-monetary gold component down $309m (27%), rural goods fell $85m (4%) with the cereal grains and cereal preparations component down $104m (17%) and services credits fell $40m (1%).
• These falls were partly offset by non-rural goods, up $135m (1%), mainly due to a rise in the metal ores and minerals component, up $172m (5%).

DEBITS (IMPORTS OF GOODS & SERVICES)

• Seasonally adjusted, goods and services debits rose $736m (4%) to $21,598m. Intermediate and other merchandise goods rose $455m (7%) with the fuels and lubricants component up $414m (21%), capital goods rose $186m (5%) and consumption goods rose $119m (2%). Services debits rose $58m (1%).
• These rises were partly offset by a fall in other goods, down $82m (15%).

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
August 2009	6 October 2009
September 2009	5 November 2009
October 2009	9 December 2009
November 2009	7 January 2010
December 2009	3 February 2010
January 2010	4 March 2010

REVISIONS

Revisions were made to the previous six months to incorporate the latest available data relating to merchandise trade data. There were no revisions to the balance of payments series in original terms. However, the seasonally adjusted and trend estimates have been revised due to the use of concurrent seasonal adjustment (see paragraph 8 in the explanatory notes).


IRON ORE AND COAL PRICES

See Commodity prices adjustment, for details of adjustments made to the value of iron ore exports for July 2009 in the Balance of Payments series.


CHANGES IN THIS ISSUE

See Changes in this issue and Changes in time series spreadsheets for details.


CHANGES IN NEXT ISSUE

Revisions to international standards used in compiling the balance of payments statistics in this publication will be implemented in the August issue 2009 which will be released on 6 October 2009. For further details, refer to the following information papers:

An Information paper: Revisions to international standards in monthly international trade in goods and services statistics from August 2009, 2009 (cat. no. 5368.0.55.012) advises the impact on this publication of the changes to international standards and was released on 17 June 2009. This paper provides access to mock-ups of the proposed publication and the related spreadsheets including new series identifiers. Released concurrently with this issue, detailed information with new series identifiers have been added to the mock-up time series spreadsheets Tables 11a and 11b.

The Information Paper: Revisions to international standards in quarterly Balance of Payments and International Investment Position statistics from September 2009, 2009 (cat. no. 5302.0.55.002) was released on 22 July 2009 and presents the same information as the above paper but in respect of the quarterly Balance of Payments and International Investment Position, Australia (cat. no. 5302.0).

An Information paper: Implementation of revised international statistical standards in ABS National and International Accounts (cat no. 5310.0.55.002), scheduled to be released on 30 September 2009 will describe the impact of the international standards on Australia's macro economic accounts including key aggregates for the balance of payments and international investment position. Technical information included in this paper will describe the most significant changes in more detail.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.