Since the previous issue of this publication, revisions have been made to align with the data published in the March quarter 2015 issues of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0), released on 2 June 2015 and Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0), released on 3 June 2015. On an international merchandise trade basis, exports and imports have been revised back to October 2014. On a balance of payments basis goods and services have been revised back to July 2013.
The following goods and services debits components have been revised since the release of the March 2015 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0):
- Goods debits:
- machinery and industrial equipment, revised back to July 2013
- capital goods n.e.s., revised back to July 2013
- parts for transport equipment, revised back to August 2013
- other parts for capital goods, revised back to December 2013
- iron and steel, revised back to August 2013
- processed industrial supplies n.e.s., revised back to October 2013.
- Services credits:
- travel services credits, revised back to July 2014.
- Services debits:
- travel, revised back to November 2014
- legal, accounting, management consulting, public relations and other professional services, revised back to January 2015
- architectural, engineering and other technical services, revised back to April 2014.
Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms the revisions have:
- decreased the deficit on goods and services for 2013-14 by $14m
- increased the deficit on goods and services for the nine months to March 2015 by $113m.
From this issue, a trend break has been applied to the May 2014 for the metal ores and minerals component. This trend break will be reassessed as part of ongoing quality improvements as more observations become available. Seasonally adjusted and trend series have been revised due to the incorporation of revised and latest estimates.