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Inventories and sales

Australian System of National Accounts: Concepts, Sources and Methods
Reference period
2020-21 financial year

Private non-farm inventory levels

20.91    The level of private non-farm inventories includes Mining, Manufacturing, Wholesale Trade, Retail Trade, and other non-farm and non-public sector inventories. Closing book values are compiled in current prices and chain volume measures.

20.92    The current price estimate is the cumulative sum of the change in book values captured by the Quarterly Business Indicators Survey (QBIS), augmented by some modelled estimates to cover industries out of scope of QBIS. The closing book value inventory levels produced by QBIS are further adjusted to remain consistent with benchmarks produced by supply-use balancing.

20.93    These series are published on a quarterly basis only.

Sales

20.94    Domestic sales are the sum of:

  • HFCE on goods
  • private GFCF of dwellings, non-dwelling construction, and machinery and equipment
  • public GFCF of dwellings, non-dwelling construction, and machinery and equipment.

20.95    Total sales include exports of goods (total non-rural, total rural, and gold) and are the sum of:

  • HFCE on goods
  • private GFCF of dwellings, non-dwelling construction, and machinery and equipment
  • public GFCF of dwellings, non-dwelling construction, and machinery and equipment
  • exports of goods.

20.96    These series are compiled in current prices on a quarterly basis only.

Private non-farm inventories to total sales

20.97    Private non-farm inventories to sales is the ratio of private non-farm inventory closing book values to total sales. It is compiled on a quarterly basis only, and is calculated as:

    \(\large Private \ non \ farm \ inventories \ to \ total \ sales = \frac{{Private \ non \ farm \ inventories}}{{Total \ sales}}\)

Imports to domestic sales

20.98    Imports to domestic sales is the ratio of imports of merchandise goods to domestic sales. It is compiled on a quarterly basis only, and is calculated as:

    \(\large Imports \ to \ domestic \ sales = \frac{{Imports \ of \ merchandise \ goods}}{{Domestic \ sales}}\)

where imports of merchandise goods is the sum of consumption goods, capital goods, and intermediate and other merchandise goods.