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5368.0 - International Trade in Goods and Services, Australia, Nov 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/01/2006   
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NOVEMBER KEY FIGURES

September 2005
October 2005
November 2005
Oct 05 to Nov 05
$m
$m
$m
% change

Trend

Balance on goods & services
-1 560
-1 738
-1 903
. .
Credits (exports of goods & services)
14 960
14 967
14 985
-
Debits (imports of goods & services)
16 520
16 705
16 888
1

Seasonally Adjusted

Balance on goods & services
-1 677
-1 380
-2 469
. .
Credits (exports of goods & services)
14 671
15 025
15 122
1
Debits (imports of goods & services)
16 348
16 405
17 591
7

. . not applicable
- nil or rounded to zero (including null cells)

Balance on goods and services
Graph: Balance on goods and services



NOVEMBER KEY POINTS


TREND ESTIMATES
  • The provisional trend estimate of the balance on goods and services was a deficit of $1,903m in November 2005, an increase of $165m on the revised deficit in October.
  • Goods and services credits rose $18m to $14,985m. Goods and services debits rose $183m (1%) to $16,888m.


SEASONALLY ADJUSTED ESTIMATES
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $2,469m in November, an increase of $1,089m on the revised deficit in October.
  • Goods and services credits rose $97m (1%) to $15,122m. Non-rural and other goods rose $173m (2%) while rural goods fell $52m (3%). Services credits fell $24m (1%).
  • Goods and services debits rose $1,186m (7%) to $17,591m. Consumption goods rose $428m (11%), intermediate and other goods rose $357m (6%) and capital goods rose $330m (10%). Services debits rose $71m (2%).


ORIGINAL ESTIMATES
  • In original terms, the November balance on goods and services was a deficit of $3,166m, an increase of $2,050m on the deficit in October. Goods and services credits fell $494m (3%) while goods and services debits rose $1,556m (9%).
  • In the five months to November, exports of non-rural and other goods were up $9.9b (24%) while rural goods were down $1.1b (10%) on the corresponding period in 2004-05.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
December 2005 3 February 2006
January 2006 3 March 2006
February 2006 3 April 2006
March 2006 5 May 2006
April 2006 31 May 2006
May 2006 4 July 2006



REVISIONS

Revisions were made to incorporate the latest available data relating to merchandise trade and trade in services.


In original terms, these revisions have:

  • decreased the deficit on goods and services for October 2005 by $22m
  • increased the deficit for the four months to October 2005 by $32m.


ADDITIONAL INFORMATION ON NOVEMBER 2005 GOODS DEBITS

Due to the implementation of the imports component of the Customs Integrated Cargo System in October 2005, there may be some temporary changes to the pattern of reporting and clearing imports. This may be a contributing factor to the increase in the value of goods debits between October and November 2005.



FEATURE ARTICLES

An article on Foreign Ownership of Equity which will update the analysis last published in the September quarter 2004 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) will be released on 28 February 2005 in the December quarter 2005 issue of 5302.0.


The release on the ABS website of the feature article, Australia's Exporters 2004-05, has been delayed to enable further analysis of the data. An information paper addressing the compilation of counts of the number of exporters will be released with the February 2006 issue of this publication on 3 April 2006.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Bernard Williams on Canberra (02) 62525540.

ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in November 2005 was a deficit of $1,903m, an increase of $165m on the deficit in October.


In seasonally adjusted terms, the balance on goods and services in November 2005 was a deficit of $2,469m, an increase of $1,089m on the deficit in October.



EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $18m between October and November to $14,985m.


In seasonally adjusted terms, goods and services credits rose $97m (1%) to $15,122m. Non-rural and other goods rose $173m (2%), while rural goods fell $52m (3%) and services credits fell $24m (1%).


Exports of goods

GOODS CREDITS
Graph: Goods Credits



Rural goods

The trend estimate of rural goods exports fell $17m (1%) to $1,992m.


In seasonally adjusted terms, exports of rural goods fell $52m (3%) to $1,980m.


The main components contributing to this fall in the seasonally adjusted estimate were:

  • Cereal grains and cereal preparations, down $49m (13%)
  • Wool and sheepskins, down $9m (4%).

Partly offsetting these effects was meat and meat preparations, up $8m (2%).


In original terms, exports of rural goods fell $96m (5%) to $2,015m.


Non-rural and other goods

The trend estimate of non-rural and other goods exports rose $47m to $9,903m.


In seasonally adjusted terms, exports of non-rural and other goods rose $173m (2%) to $10,085m.


The main components contributing to this rise in the seasonally adjusted estimate were:

  • metal ores and minerals, up $128m (6%)
  • metals (excluding non-monetary gold), up $102m (14%)
  • goods for processing, up $76m (123%)
  • other mineral fuels, up $29m (3%)
  • other non-rural, up $24m (3%)
  • transport equipment, up $21m (5%).

Partly offsetting these effects were:
  • non-monetary gold, down $187m (39%)
  • machinery, down $23m (3%).

In original terms, exports of non-rural and other goods fell $351m (3%) to $10,110m.


Exports of services

SERVICES CREDITS
Graph: Services Credits



In trend terms, services credits fell $12m to $3,090m.


Seasonally adjusted, services credits fell $24m (1%) to $3,057m.


The main movements in the seasonally adjusted components contributing to this fall were:

  • travel services, down $11m (1%)
  • transportation services, down $9m (1%).

Seasonally adjusted, tourism related services credits fell $21m (1%) to $1,934m.



IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $183m (1%) between October and November to $16,888m.


In seasonally adjusted terms, goods and services debits rose $1,186m (7%) to $17,591m. Consumption goods rose $428m (11%), intermediate and other goods rose $357m (6%), capital goods rose $330m (10%) and services rose $71m (2%).


Imports of goods

GOODS DEBITS
Graph: GOODS DEBITS



Consumption goods

The trend estimate of imports of consumption goods rose $34m (1%) to $4,124m.


In seasonally adjusted terms, imports of consumption goods rose $428m (11%) to $4,333m.


All of the components contributed to this rise in the seasonally adjusted estimate with:

  • consumption goods n.e.s., up $120m (10%)
  • food and beverages, up $85m (19%)
  • non-industrial transport equipment, up $70m (6%)
  • textiles, clothing and footwear, up $60m (12%)
  • household electrical items, up $52m (17%)
  • toys, books and leisure goods, up $41m (14%).

In original terms, imports of consumption goods rose $592m (14%) to $4,821m.


Capital goods

The trend estimate of imports of capital goods rose $84m (3%) to $3,279m.


In seasonally adjusted terms, imports of capital goods rose $330m (10%) to $3,545m.


The components contributing to the rise in the seasonally adjusted estimate were:

  • civil aircraft, up $135m
  • ADP equipment, up $84m (19%)
  • capital goods n.e.s., up $71m (18%)
  • telecommunications equipment, up $49m (13%)
  • machinery and industrial equipment, up $31m (3%).

Partly offsetting these effects was industrial transport equipment n.e.s., down $40m (8%).


In original terms, imports of capital goods rose $525m (16%) to $3,823m.


Intermediate and Other Goods

The trend estimate of imports of intermediate and other goods rose $64m (1%) to $6,276m.


In seasonally adjusted terms, intermediate and other goods imports rose $357m (6%) to $6,478m.


The main components contributing to the rise in the seasonally adjusted estimate were:

  • organic and inorganic chemicals, up $178m (57%)
  • goods for processing, up $151m (109%)
  • iron and steel, up $76m (30%)
  • processed industrial supplies n.e.s., up $53m (5%).

Partly offsetting these effects were:
  • other merchandise goods, down $113m (57%)
  • fuels and lubricants, down $56m (3%).

In original terms, intermediate and other goods imports rose $552m (9%) to $6,644m.


Imports of services

SERVICES DEBITS
Graph: SERVICES DEBITS



In trend terms, services debits rose $1m to $3,209m.


Seasonally adjusted, services debits rose $71m (2%) to $3,235m.


The movements in the seasonally adjusted components contributing to this rise were:

  • transportation services, up $53m (5%)
  • travel services, up $13m (1%)
  • other services, up $5m (1%).

Seasonally adjusted, tourism related services debits rose $42m (3%) to $1,701m.

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