CHANGES IN THIS ISSUE
REVISIONS TO MERCHANDISE TRADE DATA OUTSIDE THE NORMAL REVISION PERIOD
In this issue, the ABS has revised imports data on an international merchandise trade basis for the 2012-13, 2013-14 and 2014-15 financial years. This change has impacted tables 13a, 13b, 14b, 15b, 33, 34, 35a, and 37a-37i of International Trade in Goods and Services, Australia (cat. no. 5368.0) and detailed statistics available on request. These revisions will be included in balance of payments estimates of goods debits, and national accounts estimates of imports of goods and services, as revision periods for those estimates allow.
In this issue, the ABS has implemented improvements to more accurately reflect the country of final destination of gold bullion, non-monetary (excl. unwrought forms and coins of HS 7118 and HS 9705) (AHECC 71081324) exported to Hong Kong and China. The ABS defines the country of final destination for exports as 'the last country, as far as it is known at the time of exportation, to which goods are to be delivered'. The ABS recently conducted a review of the country of final destination of gold bullion into China and Hong Kong. There was evidence that Hong Kong had ceased serving primarily as an intermediate shipping country of gold into China and was importing and transforming gold bullion in its own right. To ensure correct treatment, the ABS has revised the series back to January 2012, inclusive. This change has impacted the country series only, as published in tables 14a and 36a-36j of International Trade in Goods and Services, Australia (cat. no. 5368.0), table 1 of International Trade: Supplementary Information, Financial Year (cat. no. 5368.0.55.003), table 1 of International Trade: Supplementary Information, Calendar Year (cat. no. 5368.0.55.004) and detailed country statistics available on request. Total levels have not been impacted, nor are there any implications for other ABS collections.
ANNUAL SEASONAL RE-ANALYSIS
In this issue, the seasonally adjusted and trend estimates of goods and services on a balance of payments basis have been revised as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the monthly processing cycle and reassesses the appropriateness of any prior corrections.