5368.0 - International Trade in Goods and Services, Australia, May 2013 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/07/2013   
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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 $721m in May 2013, an increase of $249m (53%) on the surplus in April 2013.

In seasonally adjusted terms, the balance on goods and services was a surplus of $670m in May 2013, an increase of $499m (292%) on the surplus in April 2013.


EXPORTS OF GOODS AND SERVICES

Between April and May 2013, the trend estimate of goods and services credits rose $206m (1%) to $26,065m.

In seasonally adjusted terms, goods and services credits rose $914m (4%) to $26,444m. Non–rural goods rose $682m (4%), non–monetary gold rose $135m (10%) and rural goods rose $58m (2%). Net exports of goods under merchanting remained steady at $12m. Services credits rose $39m (1%).


Exports of goods

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


RURAL GOODS

In trend terms, exports of rural goods rose $44m (1%) to $3,159m.

In seasonally adjusted terms, exports of rural goods rose $58m (2%) to $3,203m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • cereal grains and cereal preparations, up $78m (10%)
  • meat and meat preparations, up $22m (3%).

Partly offsetting these rises was the other rural component, down $47m (3%).

NON–RURAL GOODS

In trend terms, exports of non–rural goods rose $129m (1%) to $17,192m.

In seasonally adjusted terms, exports of non–rural goods rose $682m (4%) to $17,386m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • metal ores and minerals, up $253m (3%)
  • other mineral fuels, up $248m (13%)
  • coal, coke and briquettes, up $134m (4%).

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 fell $2m (13%) to $14m.

In seasonally adjusted terms, net exports of goods under merchanting remained steady at $12m.

NON–MONETARY GOLD

In trend terms, exports of non–monetary gold rose $23m (2%) to $1,317m.

In original and seasonally adjusted terms, exports of non–monetary gold rose $135m (10%) to $1,442m.


Exports of services
SERVICES CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Credits


In trend terms, services credits rose $11m to $4,382m.

In seasonally adjusted terms, services credits rose $39m (1%) to $4,401m.

The main component contributing to the rise in seasonally adjusted estimates was travel, up $26m (1%).

In seasonally adjusted terms, tourism related services credits rose $34m (1%) to $2,762m.


IMPORTS OF GOODS AND SERVICES

Between April and May 2013, the trend estimate of goods and services debits fell $43m to $25,344m.

In seasonally adjusted terms, goods and services debits rose $414m (2%) to $25,774m. Consumption goods rose $357m (7%), intermediate and other merchandise goods rose $351m (4%). Capital goods fell $290m (5%) and non–monetary gold fell $15m (3%). Services debits rose $10m.


Imports of goods
GOODS DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Debits


CONSUMPTION GOODS

In trend terms, imports of consumption goods fell $29m (1%) to $5,745m.

In seasonally adjusted terms, imports of consumption goods rose $357m (7%) to $5,844m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • consumption goods n.e.s., up $209m (12%)
  • toys, books and leisure goods, up $40m (12%)
  • textiles, clothing and footwear, up $39m (5%)
  • household electrical items, up $34m (10%).

CAPITAL GOODS

In trend terms, imports of capital goods fell $46m (1%) to $4,948m.

In seasonally adjusted terms, imports of capital goods fell $290m (5%) to $5,055m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • civil aircraft and confidentialised items, down $154m (32%)
  • capital goods n.e.s., down $149m (13%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $9m to $8,907m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $351m (4%) to $9,114m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • processed industrial supplies n.e.s., up $214m (11%)
  • primary industrial supplies n.e.s., up $47m (37%)
  • iron and steel, up $41m (14%)
  • fuels and lubricants, up $32m (1%).

NON–MONETARY GOLD

In trend terms, imports of non–monetary gold rose $20m (5%) to $409m.

In original and seasonally adjusted terms, imports of non–monetary gold fell $15m (3%) to $419m.


Imports of services
SERVICES DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits


In trend terms, services debits rose $5m to $5,337m.

In seasonally adjusted terms, services debits rose $10m to $5,341m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • other services, up $18m (1%)
  • transport, up $14m (1%).

Partly offsetting these rises was the travel component, down $19m (1%).

In seasonally adjusted terms, tourism related services debits fell $36m (1%) to $2,752m.


Selected commodities

Selected commodities, Quantity and unit value analysis: International merchandise trade basis (a) – Original terms
Change in
Dec 2012
Jan 2013
Feb 2013
Mar 2013
Apr 2013
May 2013
%
%
%
%
%
%
Iron ore
Lump
Quantity
12
–15
–12
28
8
–11
Unit value
1
15
4
–1
4
2
Fines
Quantity
18
–19
–4
23
–1
8
Unit value
3
13
8
–2
–
–
Coal
Hard coking
Quantity
8
–15
–4
–3
11
2
Unit value
1
3
3
–1
–
1
Semi–soft
Quantity
8
–15
–5
31
–18
37
Unit value
2
2
2
1
–
3
Thermal
Quantity
21
–10
–14
–6
19
–6
Unit value
–3
–
1
–1
–3
6
– nil or rounded to zero (including null cells)
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.


On an international merchandise trade basis, in original terms (noting the footnote in the above table), between April and May 2013 the largest movements recorded for the following selected commodities were:

Iron ore lump fell $144m (9%), with quantities down 11% and unit values up 2%. Exports to China fell $123m (12%), with quantities down 12%.

Iron ore fines rose $324m (8%), with quantities up 8%.
Exports to:
  • China rose $420m (14%), with quantities up 15% and unit values down 1%
  • Taiwan fell $76m (59%), with quantities down 58% and unit values down 2%.

Hard coking coal rose $44m (4%), with quantities up 2% and unit values up 1%.
Exports to:
  • Japan rose $78m (40%), with quantities up 32% and unit values up 6%
  • the Republic of Korea rose $72m (230%), with quantities up 218% and unit values up 4%
  • Netherlands fell $63m (61%), with quantities down 60% and unit values down 2%.

Semi–soft coal rose $226m (41%), with quantities up 37% and unit values up 3%.
Exports to:
  • the Republic of Korea rose $78m (153%), with quantities up 127% and unit values up 11%
  • China rose $71m (63%), with quantities up 76% and unit values down 7%
  • Japan rose $37m (16%), with quantities up 10% and unit values up 6%
  • India rose $29m (39%), with quantities up 33% and unit values up 4%.

Thermal coal fell $12m (1%), with quantities down 6% and unit values up 6%.
Exports to:
  • China fell $34m (13%), with quantities down 19% and unit values up 7%
  • Japan rose $18m (3%), with quantities down 1% and unit values up 4%.