Sources and methods - Quarterly
10.138 The sources and methods for the export and import of goods and services for both current price estimates and volume estimates are discussed in the tables that follow:
|Current price estimates|
The primary source for exports and imports general merchandise data is the ABS International Merchandise Trade Statistics (IMTS) which is compiled using administrative by-product information from the Australian Customs and Border Protection Service.
The coverage, timing and valuation of these statistics are adjusted, as required, to place them on a balance of payments basis. These adjustments are made using data from the Survey of International Transport Enterprises (SITE) and other sources including the Reserve Bank of Australia and the Survey of International Trade in Services (SITS).
The following adjustments are made:
The chain volume measures for export commodities are obtained by deflating current price values using export price indexes. The processes of chain volume compilation can be read in detail in the ABS publication, Spotlight on National Accounts Australia: Measuring Chain Volumes for Exports of Goods & Services, July 2011.
The ASNA uses the price indexes underlying those published in International Trade Price Indexes, Australia.
The chain volume measures of coverage and timing adjustments, that are made to bring exports as recorded in the IMTS onto the required national accounts/balance of payments basis, are also derived using relevant implicit price deflators from International Trade Price Indexes, Australia.
All volume measures are derived by deflating current price values using detailed price indexes.
All but two of the components are deflated using price indexes derived from those underlying the price indexes published in International Trade Price Indexes, Australia.
The exceptions are:
|Current price estimates|
The principal sources of information on exports and imports of transportation services are the International Merchandise Trade Statistics (IMTS); the Cost, Insurance and Freight/Free on Board model (CIF/FOB); and the Survey of International Trade in Services (SITS).
The CIF/FOB model is used to compile estimates of imports of freight services with a minor adjustment made for resident freight operators from the SITS.
The SITS is used to compile all other components of transportation services. However, this does experience a lag of one quarter, so projections and other sources are used in the interim.
The standard component breakdown of travel services is between business and personal travel. Services acquired by persons undertaking study or medical care while outside their territory of residence are also encompassed in travel services.
Personal travel is separated into two major subcomponents:
Business Travel – exports and imports are sourced directly from the Travel credits and Travel debits model respectively. Both use the ABS overseas arrivals and departures information for number of short-term travellers by reason and net expenditure supplied by Tourism Research Australia.
Each of these models provides monthly and quarterly estimates, however data sources are lagged so current month estimates are a projection (nowcast) and data can be projections for up to seven months for credits and ten months for debits.
The principal source for estimates of exports and imports of other services is the SITS, which covers the following services:
The following outlines the main components of other services:
Volume measures are obtained mainly by deflation of the current price values, using relevant ABS price indexes underlying those published in:
In most cases, volume measures are derived by deflating current price values using consumer price indexes from overseas countries, adjusted for exchange rate changes.
In other cases, special purpose price indexes, implicit price deflators and ABS price indexes from Consumer Price Index, Australia and International Trade Price Indexes, Australia are used.