5368.0 - International Trade in Goods and Services, Australia, Sep 2008
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/11/2008
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SEPTEMBER KEY POINTS
BALANCE ON GOODS AND SERVICES
CREDITS (EXPORTS OF GOODS & SERVICES)
DEBITS (IMPORTS OF GOODS & SERVICES)
Revisions have been made to incorporate the latest available data relating to merchandise trade and international trade in services. In original terms, these revisions have :
COAL AND IRON ORE PRICES
Since the May 2008 issue the balance of payments coal and iron ore series have been adjusted to account for delays in exporters finalising Customs entries for new contract prices. These adjustments are reviewed as new information becomes available.
In this issue, the adjustments for coal applying in the August 2008 issue ($200m for both April and May 2008 and $100m for June) have now been removed as no further revisions to Customs entries are expected for these months. For iron ore, the April adjustment remains at $300m, the May and June adjustments have been reduced by $50m each to $250m each and the $100m adjustment for July has been removed. It is expected that these adjustments will remain unless revised Customs entries are received.
Trend Breaks of $725m and $2b have been applied to the April 2008 month for the balance of payments metal ores and coal series, respectively. These trend breaks are an estimate of the change of level that has occurred in these series. The size of these trend breaks may be reassessed in coming months and caution should be used when interpreting these series.
CHANGES IN THIS ISSUE
Refer to Changes in Issue - 'Confidentiality Restrictions' for details of the changed treatment of certain confidentiality restrictions.
DETAILED SERVICES DATA
The trade in services data cubes listed under Time series data, for data on a financial year basis to 2007-08 have been updated concurrently with this issue. In addition, two new data cubes have been included showing more detailed travel data for all countries.
For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.
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