CHANGES IN THIS ISSUE
AUSTRALIAN HARMONIZED EXPORT COMMODITY CLASSIFICATION (AHECC)
A review conducted by the World Customs Organisation (WCO) has resulted in changes at the six digit Harmonized Commodity level which were implemented on 1 January 2017. These changes led to many export statistical codes closing on 31 December 2016 and new codes opening on 1 January 2017. A new edition of the Australian Harmonized Export Commodity Classification (AHECC) (cat. no. 1233.0) was released on the ABS website on 13 December 2016.
The WCO review has also led to many changes to import statistical codes. These codes are used in the Combined Australian Customs Tariff Nomenclature and Statistical Classification (the Customs Tariff, or Working Tariff) which was implemented on 1 January 2017. These changes were published on the Department of Immigration and Border Protection (DIBP) website in December 2016.
In addition, appendices 6.1 and 6.2 of the International Merchandise Trade, Australia: Concepts, Sources and Methods, 2015 (cat. no. 5489.0) publication were updated with new export and import classification information on 14 February 2017. The updated appendices include new codes and an update of closing codes, correspondences and free standing descriptors.
CHANGES IN FORTHCOMING ISSUES
IMPROVEMENT TO SEASONAL ADJUSTMENT METHOD OF CURRENT PRICE VALUES OF METAL ORES AND MINERALS AND OF OTHER MINERAL FUELS
An improvement will be applied to the seasonal adjustment method of current price goods credits components 'metal, ores and minerals' and 'other mineral fuels'. For the quarterly series (included in Balance of Payments and International Investment Position, Australia (cat. no. 5302.0)) from September quarter 2005 onwards, seasonal factors derived from the corresponding chain volume measures will be applied to seasonally adjust the current price values. For the monthly series, although chain volume measures are not available on a monthly basis, a similar method will be used to seasonally adjust the monthly current price value series from July 2005 onwards. As a result of this improvement, trend break corrections previously applied to the 'metal ores and minerals' trend series will be removed. This improvement will be implemented from the March 2017 issue of this publication and the March quarter 2017 issue of the Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) publication.