5368.0 - International Trade in Goods and Services, Australia, Jun 2014

Quality Declaration

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 05/08/2014

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JUNE KEY FIGURES

		Apr 2014	May 2014	Jun 2014	May 14 to Jun 14
		$m	$m	$m	% change

BALANCE ON GOODS AND SERVICES
	Trend estimates	-490	-1 078	-1 636	-52
	Seasonally adjusted	-1 049	-2 043	-1 683	18
CREDITS (Exports of goods and services)
	Trend estimates	27 848	27 329	26 796	-2
	Seasonally adjusted	27 803	26 495	26 620	-
DEBITS (Imports of goods and services)
	Trend estimates	28 338	28 407	28 432	-
	Seasonally adjusted	28 852	28 537	28 302	-1

- nil or rounded to zero (including null cells)

Balance on Goods and Services
Graph: This graph shows the Balance on Goods and Services for the Trend and Seasonally adjusted series

JUNE KEY POINTS

BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a deficit of $1,636m in June 2014, an increase of $558m (52%) on the deficit in May 2014.
In seasonally adjusted terms, the balance on goods and services was a deficit of $1,683m in June 2014, a decrease of $360m (18%) on the deficit in May 2014.

CREDITS (EXPORTS OF GOODS AND SERVICES)

In seasonally adjusted terms, goods and services credits rose $125m to $26,620m. Rural goods rose $135m (4%), non-monetary gold rose $68m (7%) and net exports of goods under merchanting rose $1m. Non-rural goods fell $116m (1%). Services credits rose $38m (1%).

DEBITS (IMPORTS OF GOODS AND SERVICES)

In seasonally adjusted terms, goods and services debits fell $235m (1%) to $28,302m. Capital goods fell $174m (3%), consumption goods fell $85m (1%) and non-monetary gold fell $14m (4%). Intermediate and other merchandise goods rose $10m. Services debits rose $29m.

2013-14 SITUATION

In original terms, the balance on goods and services for 2013-14 was a deficit of $6.1b, a fall of $14.0b (70%) on the deficit of $20.0b recorded in 2012-13, resulting from a $30.3b (10%) increase in goods and services credits partly offset by a $16.3b (5%) increase in goods and services debits.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
July 2014	4 September 2014
August 2014	2 October 2014
September 2014	4 November 2014
October 2014	4 December 2014
November 2014	6 January 2015
December 2014	3 February 2015

REVISIONS

Revisions have been made to incorporate the latest data relating to international trade in goods and services since the last issue of this publication:

on an international merchandise trade basis, exports and imports have been revised back to December 2013
on a balance of payments basis revisions have been applied to:

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 deficit on goods and services for the eleven months to May 2014 by $1,128m.

CHANGES IN FORTHCOMING ISSUES OF RELATED RELEASES

International Merchandise Trade By State, Current Price and Chain Volume Measures

See the Changes in forthcoming issues of related releases section for details.

VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals' and 'capital goods n.e.s.' components in the balance of payments series.

See the Value adjustments section for details.

FEATURE ARTICLE

The feature article Export and Import Invoice Currencies, June 2014 is included in this publication. This article analyses the major currencies used to invoice merchandise trade and highlights which goods are invoiced in these currencies.

See the Feature article for details.

INQUIRIES

For further information contact Balance of Payments on Canberra (02) 6252 5540 for Goods, and International Trade in Services on Hobart (03) 6222 5926 for Services. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.