Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
5368.0 - International Trade in Goods and Services, Australia, Aug 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/10/2008   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

AUGUST KEY FIGURES

June 2008
July 2008
August 2008
Jul 08 to Aug 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-73
245
563
130
Seasonally adjusted
365
-697
1 364
. .
CREDITS (Exports of goods & services)
Trend estimates
22 981
23 559
24 095
2
Seasonally adjusted
23 245
23 124
24 610
6
DEBITS (Imports of goods & services)
Trend estimates
23 054
23 314
23 532
1
Seasonally adjusted
22 880
23 821
23 246
-2

. . not applicable

Balance on Goods and Services
Graph: Balance on Goods and Services



AUGUST KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $563m in August 2008, an increase of $318m on a revised surplus in July 2008.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $1,364m in August 2008, a turnaround of $2,061m on a revised deficit in July 2008.
  • The seasonally adjusted surplus was primarily due to the strong rise in non rural and other goods credits and the fall in fuels and lubricants debits.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits rose $1,486m (6%) to $24,610m. Non-rural goods rose $1,536m (11%) and rural goods rose $79m (4%), while other goods fell $147m (9%). Services credits rose $18m.
  • The rise in non-rural goods was largely driven by coal, coke and briquettes, which rose $943m (26%) and metal ores and minerals which rose $215m (5%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits fell $575m (2%) to $23,246m. Intermediate and other merchandise goods fell $623m (7%), other goods fell $125m (11%) and consumption goods fell $52m (1%) while capital goods rose $238m (6%). Services debits fell $10m.
  • The decrease in intermediate and other merchandise goods was driven by fuels and lubricants, which fell $887m (25%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
September 2008 5 November 2008
October 2008 4 December 2008
November 2008 8 January 2009
December 2008 3 February 2009
January 2009 5 March 2009
February 2009 2 April 2009



REVISIONS

Revisions have been made to incorporate the latest available data relating to merchandise trade and international trade in services. In original terms, these revisions have :
  • decreased the deficit on goods and services for July 2008 by $21m
  • increased the deficit on goods and services for 2007–08 by $2,013m, with:
    • goods and services credits decreasing by $248m (see Revisions to Coal and Iron Ore Prices)
    • goods and services debits increasing by $1,765m, primarily due to the incorporation of the results from the June quarter 2008 Survey of International Trade in Services and revised survey data for earlier periods
  • increased the deficit on goods and services for 2006-07 by $596m.

These revisions will have some impact on the terms of trade but are not expected to impact on the volume measures of GDP.


COAL AND IRON ORE PRICES

Revisions have been made to coal and iron ore prices in the Balance of Payments series. For details see: Revisions to Coal and Iron Ore Prices.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.


Bookmark and Share. Opens in a new window

Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.