5368.0 - International Trade in Goods and Services, Australia, Dec 2019 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/02/2020   
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December key points


Balance on goods and services

  • In trend terms, the balance on goods and services was a surplus of $4,799m in December 2019, a decrease of $364m on the surplus in November 2019.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $5,223m in December 2019, a decrease of $295m on the surplus in November 2019.


Credits (exports of goods and services)
  • In seasonally adjusted terms, goods and services credits rose $557m (1%) to $41,293m. Non-rural goods rose $289m (1%), non-monetary gold rose $266m (14%), rural goods rose $63m (2%) and net exports of goods under merchanting rose $1m (20%). Services credits fell $62m (1%).


Debits (imports of goods and services)
  • In seasonally adjusted terms, goods and services debits rose $853m (2%) to $36,070m. Capital goods rose $376m (6%), consumption goods rose $309m (4%) and intermediate and other merchandise goods rose $64m (1%). Non-monetary gold fell $102m (21%). Services debits rose $205m (2%).


2019 Situation
  • In original terms, the balance on goods and services for 2019 was a surplus of $67.6b, an increase of $44.7b on the surplus of $23.0b recorded in 2018, resulting from a $54.7b (12%) increase in goods and services credits and a $10.0b (2%) increase in goods and services debits.


Key figures
Oct 2019
Nov 2019
Dec 2019
Nov 19 to Dec 19
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
5 572
5 163
4 799
-7
Seasonally adjusted
3 965
5 518
5 223
-5
CREDITS (Exports of goods & services)
Trend estimates
41 232
40 931
40 701
-1
Seasonally adjusted
40 207
40 736
41 293
1
DEBITS (Imports of goods & services)
Trend estimates
35 660
35 768
35 902
-
Seasonally adjusted
36 242
35 217
36 070
2

- 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


Bushfires in December

Quality assurance undertaken by the ABS confirmed that the bushfires did not result in any impacts to International Trade in Goods and Services statistics for December 2019. The ABS will continue to undertake additional quality assurance in January and the coming months.