5302.0.55.004 - Balance of Payments - Goods and Services, Preliminary Quarterly Estimates, Sep 2014
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 25/11/2014
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The ABS provides information on Australia's international trade in goods and services in three publications:
Estimates may be revised between the monthly estimates in cat. no. 5368.0, the preliminary estimates in this publication and the quarterly estimates in cat. no. 5302.0. The September quarter 2014 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) will be released on 2 December 2014.
PRELIMINARY CURRENT PRICE ESTIMATES OF BALANCE ON GOODS AND SERVICES
PRELIMINARY ESTIMATES OF CHAIN VOLUME MEASURES AND PRICE INDEXES FOR GOODS DEBITS (footnote 1, footnote 2)
CHANGES IN THIS ISSUE
ANNUAL SEASONAL RE–ANALYSIS
The seasonally adjusted and trend estimates of goods and services have been revised as a result of the annual seasonal re–analysis. This re–analysis reviews the seasonal and trading day factors in more detail than is possible in the quarterly processing cycle and assesses the appropriateness of any prior corrections. For more information about seasonal adjustment see paragraphs 10 to 14 of the Explanatory Notes.
NEW BASE YEAR AND RE–REFERENCING OF CHAIN VOLUME ESTIMATES, IMPLICIT PRICE DEFLATORS, AND TERMS OF TRADE INDEXES
A new base year 2012–13, has been introduced into chain volume estimates, implicit price deflators, and terms of trade indexes. Chain volume estimates, implicit price deflators, and terms of trade indexes have been re–referenced to 2012–13. Additivity has been preserved in the quarters subsequent to the new reference year as well as the annual sum of the quarters in the reference year. Re–referencing affects the levels, but not the movements, of chain volume estimates, implicit price deflators and terms of trade indexes. This has resulted in revisions to the growth rates of chain volume estimates, implicit price deflators and terms of trade indexes for all periods from September quarter 2012.
1 Reference year for chain volume measures and price index is 2012–13. See paragraphs 16 to 18 of the Explanatory Notes.
2 In this commentary movements in indexes are based on data to four decimal places.
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