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July key points


Balance on goods and services

• In trend terms, the balance on goods and services was a surplus of $7,291m in July 2019, an increase of $284m on the surplus in June 2019.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $7,268m in July 2019, a decrease of $709m on the surplus in June 2019.

• In seasonally adjusted terms, goods and services credits rose $270m (1%) to $42,538m. Non-monetary gold rose $1,086m (66%). Non-rural goods fell $807m (3%), rural goods fell $42m (1%) and net exports of goods under merchanting fell $6m (33%). Services credits rose $38m.

• In seasonally adjusted terms, goods and services debits rose $979m (3%) to $35,270m. Intermediate and other merchandise goods rose $541m (5%), consumption goods rose $378m (4%) and non-monetary gold rose $177m (29%). Capital goods fell $87m (1%). Services debits fell $30m.

		May 2019	Jun 2019	Jul 2019	Jun 19 to Jul 19
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	6 632	7 007	7 291	4
	Seasonally adjusted	6 150	7 977	7 268	-9
CREDITS (Exports of goods & services)
	Trend estimates	41 629	42 046	42 297	1
	Seasonally adjusted	41 699	42 268	42 538	1
DEBITS (Imports of goods & services)
	Trend estimates	34 997	35 039	35 006	-
	Seasonally adjusted	35 549	34 291	35 270	3
- nil or rounded to zero (including null cells)