JUNE KEY FIGURES

		Apr 2011	May 2011	Jun 2011	May 11 to Jun 11
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	1 689	1 812	1 940	. .
	Seasonally adjusted	1 667	2 699	2 052	. .
CREDITS (Exports of goods & services)
	Trend estimates	25 449	25 881	26 274	2
	Seasonally adjusted	25 525	26 441	26 405	-
DEBITS (Imports of goods & services)
	Trend estimates	23 759	24 070	24 334	1
	Seasonally adjusted	23 858	23 742	24 353	3
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services

JUNE KEY POINTS


BALANCE ON GOODS AND SERVICES

• The trend estimate of the balance on goods and services was a surplus of $1,940m in June 2011, a rise of $128m on the surplus in May 2011.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $2,052m in June 2011, a fall of $647m on the surplus in May 2011.

CREDITS (EXPORTS OF GOODS & SERVICES)

• In seasonally adjusted terms, goods and services credits fell $36m to $26,405m. Non-monetary gold fell $894m (55%) and net exports of goods under merchanting fell $2m (6%). Non-rural goods rose $770m (4%) and rural goods rose $86m (3%). Services credits rose $5m.

DEBITS (IMPORTS OF GOODS & SERVICES)

• In seasonally adjusted terms, goods and services debits rose $611m (3%) to $24,353m. Intermediate and other merchandise goods rose $320m (4%), capital goods rose $296m (7%) and non-monetary gold rose $22m (6%). Consumption goods fell $34m (1%). Services debits rose $8m.

2010-11 SITUATION

• In original terms, the balance on goods and services for 2010-11 was a surplus of $22.4b, a turnaround of $25.9b on the deficit of $3.5b recorded in 2009-10, resulting from a $44.0b (17%) increase in goods and services credits offset by a $18.2b (7%) increase in goods and services debits.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
July 2011	12 September 2011
August 2011	4 October 2011
September 2011	8 November 2011
October 2011	12 December 2011
November 2011	10 January 2012
December 2011	2 February 2012

REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services. The international trade in goods and services on a balance of payments basis series have been revised from July 2010 onwards.

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have increased the surplus on goods and services for the 11 months to May 2011 by $440m.

Seasonally adjusted and trend series have been revised due to the incorporation of the revisions and estimates for the latest month.


IRON ORE AND COAL VALUES

Adjustments have been made to the value of the 'metal ores and minerals' and 'coal, coke and briquettes' components in the balance of payments series. See Commodity value adjustment for details.


CHANGES IN FORTHCOMING ISSUES

The forthcoming July 2011 issue of International Trade in Goods and Services (cat. no 5368.0) has been re-scheduled from the previously notified date of Thursday, 8 September 2011 to Monday, 12 September 2011.

Tables 12 and 13 of this publication present the major commodities for international merchandise trade exports and imports, respectively. The major commodities will be reviewed and updated as appropriate in the July issue of this publication.


RELATED RELEASES

The publication Australian Harmonized Export Commodity Classification (AHECC) - Electronic Publication, Jan 2012 (cat. no. 1233.0) will be released on the ABS website on 22 August 2011. See Related releases for details.


IMPACT OF NATURAL DISASTERS

The collection and processing of data included in this publication were not disrupted by the Japanese earthquake and tsunami. See Impact of natural disasters for details.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.