5368.0 - International Trade in Goods and Services, Australia, Nov 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/01/2020   
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Analysis and comments


Balance on goods and services

In trend terms, the balance on goods and services was a surplus of $5,392m in November 2019, a decrease of $455m on the surplus in October 2019.

In seasonally adjusted terms, the balance on goods and services was a surplus of $5,800m in November 2019, an increase of $1,725m on the surplus in October 2019.


Goods and services summary(a), Seasonally adjusted and Trend

Change in:
Sep 2019
Oct 2019
Nov 2019
Nov 2019
Nov 2019
$m
$m
$m
$m
%

Seasonally adjusted

Balance on goods and services
6 118
4 075
5 800
1 725
42
Credits
Total goods and services
42 139
40 187
40 893
706
2
Total goods
33 504
31 555
32 162
607
2
Rural goods(b)
3 952
4 075
4 084
9
-
Non-rural goods(b)
26 849
25 450
26 168
718
3
Net exports of goods under merchanting(c)
13
5
5
-
-
Non-monetary gold(c)
2 690
2 025
1 905
-120
-6
Total services
8 636
8 632
8 731
99
1
Debits
Total goods and services
-36 022
-36 113
-35 093
-1 020
-3
Total goods
-27 248
-27 514
-26 553
-961
-3
Consumption goods
-8 822
-9 252
-8 642
-610
-7
Capital goods
-6 743
-6 593
-6 334
-259
-4
Intermediate and other merchandise goods
-10 957
-11 199
-11 097
-102
-1
Non-monetary gold(c)
-727
-469
-480
11
2
Total services
-8 774
-8 599
-8 541
-58
-1

Trend(d)

Balance on goods and services
6 225
5 847
5 392
-455
-8
Credits
Total goods and services
41 649
41 318
40 902
-416
-1
Total goods
33 020
32 647
32 200
-447
-1
Rural goods(b)
3 901
3 965
4 032
67
2
Non-rural goods(b)
26 819
26 409
25 949
-460
-2
Net exports of goods under merchanting
9
9
9
-
-
Non-monetary gold
2 290
2 264
2 211
-53
-2
Total services
8 628
8 671
8 702
31
-
Debits
Total goods and services
-35 423
-35 471
-35 510
39
-
Total goods
-26 748
-26 813
-26 876
63
-
Consumption goods
-8 853
-8 886
-8 918
32
-
Capital goods
-6 263
-6 287
-6 317
30
-
Intermediate and other merchandise goods
-10 904
-10 965
-11 034
69
1
Non-monetary gold
-728
-675
-607
-68
-10
Total services
-8 675
-8 657
-8 633
-24
-

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) For all time periods, estimates for sugar, sugar preparations and honey are included in Non-rural goods.
(c) This component is not seasonally adjusted.
(d) Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, see paragraph 19 of the Explanatory Notes.


Exports of goods and services

Between October and November 2019, the trend estimate of goods and services credits fell $416m (1%) to $40,902m.

In seasonally adjusted terms, goods and services credits rose $706m (2%) to $40,893m. Non-rural goods rose $718m (3%) and rural goods rose $9m. Non-monetary gold fell $120m (6%). Net exports of goods under merchanting remained steady at $5m. Services credits rose $99m (1%).

Exports of goods


Goods credits

Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Credits

Goods credits, Seasonally adjusted

Change in:
Sep 2019
Oct 2019
Nov 2019
Nov 2019
Nov 2019
$m
$m
$m
$m
%

Total goods credits
33 504
31 555
32 162
607
2
General merchandise
30 801
29 525
30 252
727
2
Rural goods
3 952
4 075
4 084
9
-
Meat and meat preparations
1 419
1 488
1 571
83
6
Cereal grains and cereal preparations
522
549
534
-15
-3
Wool and sheepskins
221
240
253
13
5
Other rural(a)
1 790
1 798
1 727
-71
-4
Non-rural goods
26 849
25 450
26 168
718
3
Metal ores and minerals(b)
11 226
10 216
10 588
372
4
Coal, coke and briquettes(c)
4 731
4 554
4 606
52
1
Other mineral fuels(b)(d)
5 343
4 994
5 178
184
4
Metals (excl. non-monetary gold)
1 157
994
1 091
97
10
Machinery
974
1 105
1 101
-4
-
Transport equipment
405
445
452
7
2
Other manufactures
2 021
2 160
2 175
15
1
Other non-rural (incl. sugar and beverages)(a)
855
845
846
1
-
Goods procured in ports by carriers(d)
137
137
131
-6
-4
Net exports of goods under merchanting(e)
13
5
5
-
-
Non-monetary gold(e)
2 690
2 025
1 905
-120
-6

- nil or rounded to zero (including null cells)
(a) For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
(b) From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
(c) From July 1971 to June 2005, only a length-of-month adjustment has been applied to this component. From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) This component is not seasonally adjusted.


Rural goods

In trend terms, exports of rural goods rose $67m (2%) to $4,032m.

In seasonally adjusted terms, exports of rural goods rose $9m to $4,084m.

The main component contributing to the rise in seasonally adjusted estimates was meat and meat preparations, up $83m (6%).

Partly offsetting this rise was other rural, down $71m (4%).


Non-rural goods

In trend terms, exports of non-rural goods fell $460m (2%) to $25,949m.

In seasonally adjusted terms, exports of non-rural goods rose $718m (3%) to $26,168m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • metal ores and minerals, up $372m (4%)
  • other mineral fuels, up $184m (4%)
  • metals (excl. non-monetary gold), up $97m (10%)
  • coal, coke and briquettes, up $52m (1%).
For price and volume details, see the Selected commodities section.


Net exports of goods under merchanting

In trend terms, net exports of goods under merchanting remained steady at $9m.

In seasonally adjusted terms, net exports of goods under merchanting remained steady at $5m.


Non-monetary gold

In trend terms, exports of non-monetary gold fell $53m (2%) to $2,211m.

In original and seasonally adjusted terms, exports of non-monetary gold fell $120m (6%) to $1,905m.


Exports of services


Services credits
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Credits

Services credits, Seasonally adjusted

Change in:
Sep 2019
Oct 2019
Nov 2019
Nov 2019
Nov 2019
$m
$m
$m
$m
%

Total services credits
8 636
8 632
8 731
99
1
Manufacturing services on physical inputs owned by others(a)
-
-
-
-
-
Maintenance and repair services n.i.e.(a)
2
5
5
-
-
Transport
677
685
687
2
-
Passenger(b)
273
275
277
2
1
Freight(c)
23
30
29
-1
-3
Other
244
247
248
1
-
Postal and courier services(d)
137
133
133
-
-
Travel
5 569
5 661
5 722
61
1
Other services
2 388
2 281
2 318
37
2
Memorandum item
Tourism related services credits(e)
5 842
5 936
5 998
62
1

- nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.
(b) Passenger services includes agency fees and commissions for air transport.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.


In trend terms, services credits rose $31m to $8,702m.

In seasonally adjusted terms, services credits rose $99m (1%) to $8,731m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • travel, up $61m (1%)
  • other services, up $37m (2%).

In seasonally adjusted terms, tourism related services credits rose $62m (1%) to $5,998m.

In seasonally adjusted terms, total services credits contributed 21% of total goods and services exported.


Imports of goods and services

Between October and November 2019, the trend estimate of goods and services debits rose $39m to $35,510m.

In seasonally adjusted terms, goods and services debits fell $1,020m (3%) to $35,093m. Consumption goods fell $610m (7%), capital goods fell $259m (4%) and intermediate and other merchandise goods fell $102m (1%). Non-monetary gold rose $11m (2%). Services debits fell $58m (1%).


Imports of goods


Goods debits
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Debits

Goods debits(a), Seasonally adjusted

Change in:
Sep 2019
Oct 2019
Nov 2019
Nov 2019
Nov 2019
$m
$m
$m
$m
%

Total goods debits
-27 248
-27 514
-26 553
-961
-3
General merchandise
-26 521
-27 045
-26 073
-972
-4
Consumption goods
-8 822
-9 252
-8 642
-610
-7
Food and beverages, mainly for consumption
-1 389
-1 458
-1 416
-42
-3
Household electrical items
-497
-521
-499
-22
-4
Non-industrial transport equipment
-1 955
-2 214
-1 715
-499
-23
Textiles, clothing and footwear
-1 617
-1 629
-1 595
-34
-2
Toys, books and leisure goods
-555
-569
-545
-24
-4
Consumption goods n.e.s.
-2 807
-2 861
-2 872
11
-
Capital goods
-6 743
-6 593
-6 334
-259
-4
Machinery and industrial equipment
-1 952
-2 077
-2 084
7
-
ADP equipment
-926
-1 041
-963
-78
-7
Telecommunications equipment
-1 318
-1 281
-1 260
-21
-2
Civil aircraft and confidentialised items(b)(c)
-366
-407
-396
-11
-3
Industrial transport equipment n.e.s.
-915
-840
-728
-112
-13
Capital goods n.e.s.(d)
-1 266
-947
-903
-44
-5
Intermediate and other merchandise goods
-10 957
-11 199
-11 097
-102
-1
Food and beverages, mainly for industry
-180
-183
-185
2
1
Primary industrial supplies n.e.s.(d)
-118
-161
-138
-23
-14
Fuels and lubricants(c)
-3 180
-3 370
-3 315
-55
-2
Parts for transport equipment
-1 164
-1 155
-1 148
-7
-1
Parts for ADP equipment
-63
-62
-60
-2
-3
Other parts for capital goods
-1 633
-1 728
-1 678
-50
-3
Organic and inorganic chemicals
-264
-285
-271
-14
-5
Paper and paperboard
-209
-208
-211
3
1
Textile yarn and fabrics
-128
-127
-127
-
-
Iron and steel
-281
-284
-286
2
1
Plastics
-374
-386
-369
-17
-4
Processed industrial supplies n.e.s.
-3 228
-3 118
-3 085
-33
-1
Other merchandise goods(b)(e)
-28
-21
-113
92
438
Goods procured in ports by carriers(c)
-107
-110
-110
-
-
Non-monetary gold(c)
-727
-469
-480
11
2

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) From July 2008, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Civil aircraft and confidentialised items. For earlier periods, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Other merchandise goods.
(c) This component is not seasonally adjusted.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) From July 1981, this component is not seasonally adjusted.


Consumption goods

In trend terms, imports of consumption goods rose $32m to $8,918m.

In seasonally adjusted terms, imports of consumption goods fell $610m (7%) to $8,642m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • non-industrial transport equipment, down $499m (23%)
  • food and beverages, mainly for consumption, down $42m (3%).


Capital goods

In trend terms, imports of capital goods rose $30m to $6,317m.

In seasonally adjusted terms, imports of capital goods fell $259m (4%) to $6,334m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • industrial transport equipment n.e.s., down $112m (13%)
  • ADP equipment, down $78m (7%)
  • capital goods n.e.s., down $44m (5%).


Intermediate and other merchandise goods

In trend terms, imports of intermediate and other merchandise goods rose $69m (1%) to $11,034m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $102m (1%) to $11,097m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • fuels and lubricants, down $55m (2%)
  • other parts for capital goods, down $50m (3%)
  • processed industrial supplies n.e.s., down $33m (1%)
  • primary industrial supplies n.e.s., down $23m (14%).

Partly offsetting these falls was other merchandise goods, up $92m.


Non-monetary gold

In trend terms, imports of non-monetary gold fell $68m (10%) to $607m.

In original and seasonally adjusted terms, imports of non-monetary gold rose $11m (2%) to $480m.


Imports of services


Services debits
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits

Services debits(a), Seasonally adjusted

Change in:
Sep 2019
Oct 2019
Nov 2019
Nov 2019
Nov 2019
$m
$m
$m
$m
%

Total services debits
-8 774
-8 599
-8 541
-58
-1
Manufacturing services on physical inputs owned by others(b)
-
-
-
-
-
Maintenance and repair services n.i.e.(b)
-80
-89
-83
-6
-7
Transport
-1 548
-1 563
-1 538
-25
-2
Passenger(c)
-636
-629
-621
-8
-1
Freight
-826
-843
-826
-17
-2
Other(b)
-77
-81
-81
-
-
Postal and courier services(d)(e)
-9
-9
-9
-
-
Travel
-4 380
-4 293
-4 255
-38
-1
Other services
-2 766
-2 654
-2 664
10
-
Memorandum item
Tourism related services debits(f)
-5 015
-4 922
-4 877
-45
-1

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) This component is not seasonally adjusted.
(c) Passenger services includes agency fees and commissions for air transport.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(f) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.

In trend terms, services debits fell $24m to $8,633m.

In seasonally adjusted terms, services debits fell $58m (1%) to $8,541m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • travel, down $38m (1%)
  • transport, down $25m (2%).

In seasonally adjusted terms, tourism related services debits fell $45m (1%) to $4,877m.

In seasonally adjusted terms, total services debits contributed 24% of total goods and services imported.



Selected commodities

Selected commodities, quantity and unit value analysis - International merchandise trade basis(a): Original terms

Change in:
Jun 2019
Jul 2019
Aug 2019
Sep 2019
Oct 2019
Nov 2019
%
%
%
%
%
%

Iron ore

Lump
Quantity
-5
-11
14
-12
-1
18
Unit value
6
7
-15
-2
2
-7
Fines
Quantity
-2
-5
5
-3
-2
1
Unit value
6
8
-6
-7
-6
-3

Coal

Hard coking
Quantity
18
-18
-1
-2
-
2
Unit value
-
-5
-2
p-14
p-6
p13
Semi-soft
Quantity
23
-20
-7
-2
-16
9
Unit value
-4
-4
-
-1
-8
p4
Thermal
Quantity
7
14
-16
-1
10
-17
Unit value
-4
p-8
6
p-5
-6
6

Gas

LNG
Quantity
-3
13
2
-12
3
3
Unit value
-5
5
7
4
-7
3

- nil or rounded to zero (including null cells)
p preliminary figure or series subject to revision
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.

International merchandise trade exports data presented in the above table are based on information reported by exporters to the Department of Home Affairs (Home Affairs). For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to Home Affairs. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to Home Affairs. When additional information for these commodities is available, the ABS may adjust the data to reflect actual transaction values.

Unit values in this publication are presented in Australian dollar terms. Movements in the unit values for some commodities incorporate movements in the United States dollar prices reported to Home Affairs and movements in the Australian dollar to United States dollar exchange rate.

On an international merchandise trade basis, in original terms (noting the footnote in the above table), between October to November 2019 the largest movements recorded for the following selected commodities were:

Iron ore lump, up $215m (10%), with quantities up 18% and unit values down 7%. Exports to:
  • China (excludes SARs and Taiwan) rose $113m (7%), with quantities up 17% and unit values down 9%
  • Japan rose $94m (48%), with quantities up 42% and unit values up 4%.

Iron ore fines, down $143m (2%), with quantities up 1% and unit values down 3%. Exports to:
  • the Republic of Korea fell $97m (21%), with quantities down 17% and unit values down 6%
  • Japan fell $78m (20%), with quantities down 17% and unit values down 4%.

Hard coking coal, up $321m (15%), with quantities up 2% and unit values up 13%. Exports to:
  • India rose $202m (39%), with quantities up 23% and unit values up 13%
  • Japan rose $104m (49%), with quantities up 45% and unit values up 3%
  • China (excludes SARs and Taiwan) rose $100m (15%), with unit values up 16%.

Semi-soft coal, up $83m (13%), with quantities up 9% and unit values up 4%. Exports to:
  • India rose $41m (27%), with quantities up 13% and unit values up 12%
  • Taiwan rose $35m (99%), with quantities up 100%.

Thermal coal, down $206m (12%), with quantities down 17% and unit values up 6%. Exports to:
  • China (excludes SARs and Taiwan) fell $90m (31%), with quantities down 39% and unit values up 13%
  • the Republic of Korea fell $60m (18%), with quantities down 21% and unit values up 3%
  • Thailand fell $51m, with no exports in November 2019.

Liquefied natural gas (LNG), up $232m (6%), with quantities up 3% and unit values up 3%.