Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
5368.0 - International Trade in Goods and Services, Australia, Sep 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/11/2008   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

SEPTEMBER KEY FIGURES

July 2008
August 2008
September 2008
Aug 08 to Sep 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
537
739
894
21
Seasonally adjusted
-550
1 240
1 460
18
CREDITS (Exports of goods & services)
Trend estimates
24 090
24 707
25 226
2
Seasonally adjusted
23 372
24 656
26 507
8
DEBITS (Imports of goods & services)
Trend estimates
23 554
23 968
24 332
2
Seasonally adjusted
23 922
23 416
25 047
7


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



SEPTEMBER KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $894m in September 2008, an increase of $155m on a revised surplus in August 2008.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $1,460m in September 2008, an increase of $220m on a revised surplus in August 2008.
  • The seasonally adjusted surplus was primarily due to the strong increase in non rural goods credits outweighing the strong increase in intermediate and other merchandise goods debits.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits rose $1,851m (8%) to $26,507m. Non-rural goods rose $1,671m (10%) and other goods rose $39m (3%), while rural goods fell $12m (1%). Services credits rose $152m (3%).
  • The rise in non-rural goods was largely driven by metal ores and minerals, which rose $941m (19%) and coal, coke and briquettes which rose $626m (14%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits rose $1,631m (7%) to $25,047m. Intermediate and other merchandise goods rose $1,132m (13%), capital goods rose $216m (5%), other goods rose $175m (16%) and consumption goods rose $27m (1%). Services debits rose $80m (2%).
  • The main contributor to the increase in intermediate and other merchandise goods was fuels and lubricants, which rose $547m (20%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
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
March 2009 7 May 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 surplus on goods and services for August 2008 by $181m, primarily due to the incorporation of the latest Overseas Arrivals and Departures data
  • increased the deficit on goods and services for 2007-08 by $698m, with:
      • goods credits decreasing by $554m (see Coal and Iron Ore Prices below)
      • goods debits increasing by $144m.


COAL AND IRON ORE PRICES

Since the May 2008 issue the balance of payments coal and iron ore series have been adjusted to account for delays in exporters finalising Customs entries for new contract prices. These adjustments are reviewed as new information becomes available.

In this issue, the adjustments for coal applying in the August 2008 issue ($200m for both April and May 2008 and $100m for June) have now been removed as no further revisions to Customs entries are expected for these months. For iron ore, the April adjustment remains at $300m, the May and June adjustments have been reduced by $50m each to $250m each and the $100m adjustment for July has been removed. It is expected that these adjustments will remain unless revised Customs entries are received.

Trend Breaks of $725m and $2b have been applied to the April 2008 month for the balance of payments metal ores and coal series, respectively. These trend breaks are an estimate of the change of level that has occurred in these series. The size of these trend breaks may be reassessed in coming months and caution should be used when interpreting these series.


CHANGES IN THIS ISSUE

Refer to Changes in Issue - 'Confidentiality Restrictions' for details of the changed treatment of certain confidentiality restrictions.


DETAILED SERVICES DATA

The trade in services data cubes listed under Time series data, for data on a financial year basis to 2007-08 have been updated concurrently with this issue. In addition, two new data cubes have been included showing more detailed travel data for all countries.


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.