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5368.0 - International Trade in Goods and Services, Australia, Apr 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/05/2006   
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APRIL KEY FIGURES

February 2006
March 2006
April 2006
Mar 06 to Apr 06
$m
$m
$m
% change

Trend

Balance on goods & services
-1 361
-1 235
-1 142
. .
Credits (exports of goods & services)
16 334
16 547
16 697
1
Debits (imports of goods & services)
17 695
17 782
17 839
-

Seasonally Adjusted

Balance on goods & services
-430
-1 509
-1 093
. .
Credits (exports of goods & services)
16 944
16 105
16 904
5
Debits (imports of goods & services)
17 374
17 614
17 997
2

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

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



APRIL KEY POINTS


TREND ESTIMATES
  • The provisional trend estimate of the balance on goods and services was a deficit of $1,142m in April 2006, a decrease of $93m on the revised deficit in March.
  • Goods and services credits rose $150m (1%) to $16,697m. Goods and services debits rose $57m to $17,839m.


SEASONALLY ADJUSTED ESTIMATES
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $1,093m in April, a decrease of $416m on the revised deficit in March.
  • Goods and services credits rose $799m (5%) to $16,904m. Non-rural and other goods rose $796m (8%) while rural goods fell $51m (2%). Services credits rose $54m (2%).
  • Goods and services debits rose $383m (2%) to $17,997m. Intermediate and other goods rose $465m (7%) and consumption goods rose $201m (5%), while capital goods fell $311m (9%). Services debits rose $28m (1%).


ORIGINAL ESTIMATES
  • In original terms, the April balance on goods and services was a deficit of $70m, a decrease of $1,088m on the deficit in March. Goods and services credits rose $178m (1%) and goods and services debits fell $910m (5%).
  • In the ten months to April, exports of non-rural and other goods were up $21.6b (26%) while rural goods were down $0.5b (3%) on the corresponding period in 2004-05.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
May 2006 14 July 2006
June 2006 11 August 2006
July 2006 8 September 2006
August 2006 4 October 2006
September 2006 2 November 2006
October 2006 29 November 2006



CHANGES IN THIS ISSUE

The Tourism related services series are highly correlated to their component series (passenger and other services and travel services) but the series are currently seasonally adjusted independently. For services debits, the Easter proximity correction and the SARS correction for April 2003 have been reviewed and made more consistent between tourism related services and the component series. This has improved the consistency of these seasonally adjusted series for April observations since 2000 and has resulted in some other minor revisions. Despite this improvement, independent seasonal adjustment can still result in variation between seasonally adjusted series. The ABS is investigating changing the seasonal adjustment of tourism related services so that it is derived from the seasonally adjusted component series. Details of any change will be announced in a future issue.



INQUIRIES

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



ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in April 2006 was a deficit of $1,142m, a decrease of $93m on the deficit in March.


In seasonally adjusted terms, the balance on goods and services in April 2006 was a deficit of $1,093m, a decrease of $416m on the deficit in March.



EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $150m (1%) between March and April to $16,697m.


In seasonally adjusted terms, goods and services credits rose $799m (5%) to $16,904m. Other goods rose $456m (51%), non-rural goods rose $340m (4%), while rural goods fell $51m (2%). Services credits rose $54m (2%).


Exports of goods

GOODS CREDITS
Graph: Goods Credits



Rural goods

The trend estimate of rural goods exports rose $27m (1%) to $2,222m.


In seasonally adjusted terms, exports of rural goods fell $51m (2%) to $2,210m.


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

  • cereal grains and cereal preparations, down $41m (8%)
  • other rural, down $22m (2%).

Partly offsetting these effects were wool and sheepskins, up $14m (6%).


In original terms, exports of rural goods fell $152m (6%) to $2,187m.


Non-rural goods

The trend estimate of non-rural goods exports rose $25m to $10,034m.


In seasonally adjusted terms, exports of non-rural goods rose $340m (4%) to $10,033m.


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

  • other mineral fuels, up $151m (15%)
  • metal ores and minerals, up $133m (6%)
  • other manufactures, up $84m (7%)
  • metals (excluding non-monetary gold), up $25m (3%).

Partly offsetting these effects were:
  • machinery, down $23m (3%)
  • other non-rural, down $22m (2%).

In original terms, exports of non-rural goods fell $89m (1%) to $9,876m.


Movements in the original series contributing to the rise in seasonally adjusted terms were:

  • metal ores and minerals, up $95m (4%), compared to an average March to April
    rise of 1% over the previous three years, largely driven by:
      • non-agglomerated iron ore, up $70m (7%), with volumes up 13% and prices down 5%
      • zinc ore, up $49m (37%), with volumes down 3% and prices up 42%.
  • other mineral fuels, up $52m (5%), in contrast to an average March to April fall of 9% over the previous three years.

Other goods

The trend estimate of other goods exports rose $74m (7%) to $1,131m.


In seasonally adjusted terms, exports of other goods rose $456m (51%) to $1,345m.


The main components contributing to the rise in the seasonally adjusted series were non-monetary gold, up $246m (46%) and goods for processing, up $209m (96%). Some non-monetary gold is included in goods for processing.


In original terms, exports of other goods rose $462m (52%) to $1,353m.


Exports of services

SERVICES CREDITS
Graph: Services Credits



In trend terms, services credits rose $24m (1%) to $3,310m.


Seasonally adjusted, services credits rose $54m (2%) to $3,316m.


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

  • other services, up $25m (3%)
  • travel services, up $22m (1%)
  • transportation services, up $7m (1%).

Seasonally adjusted, tourism related services credits rose $33m (2%) to $2,106m.



IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $57m between March and April to $17,839m.


In seasonally adjusted terms, goods and services debits rose $383m (2%) to $17,997m. Other goods rose $234m (36%), intermediate and other merchandise goods rose $231m (4%), consumption goods rose $201m (5%), while capital goods fell $311 (9%). Services debits rose $28m (1%).


Imports of goods

GOODS DEBITS
Graph: GOODS DEBITS



CONSUMPTION GOODS

The trend estimate of imports of consumption goods rose $19m to $4,273m.


In seasonally adjusted terms, imports of consumption goods rose $201m (5%) to $4,381m.


All components contributed to the rise in the seasonally adjusted estimates. The movements were:

  • consumption goods n.e.s., up $57m (4%)
  • textiles, clothing and footwear, up $50m (9%)
  • non-industrial transport equipment, up $27m (2%)
  • toys, books and leisure goods, up $26m (7%)
  • food and beverages, mainly for consumption, up $23m (4%)
  • household electrical items, up $18m (5%).

In original terms, imports of consumption goods fell $183m (4%) to $3,948m.


CAPITAL GOODS

The trend estimate of imports of capital goods fell $52m (2%) to $3,409m.


In seasonally adjusted terms, imports of capital goods fell $311m (9%) to $3,303m.


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

  • civil aircraft, down $241m
  • industrial transport equipment n.e.s., down $128m (22%).

Partly offsetting these effects were:
  • machinery and industrial equipment, up $25m (2%)
  • capital goods n.e.s., up $23m (5%).

In original terms, imports of capital goods fell $527m (15%) to $3,024m.


INTERMEDIATE AND OTHER MERCHANDISE GOODS

The trend estimate of imports of intermediate goods rose $35m (1%) to $6,137m.


In seasonally adjusted terms, intermediate goods imports rose $231m (4%) to $6,193m.


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

  • other parts for capital goods, up $147m (18%)
  • processed industrial supplies n.e.s., up $116m (10%)
  • organic and inorganic chemicals, up $80m (27%)
  • other merchandise goods, up $47m (64%).

Partly offsetting these effects were:
  • fuels and lubricants, down $160m (8%), largely driven by crude petroleum, down $231m (18%), with volumes down 20% and prices up 2%
  • iron and steel, down $27m (10%).

In original terms, intermediate and other merchandise goods fell $467m (7%) to $5,839m.


OTHER GOODS

The trend estimate of imports of other goods rose $56m (8%) to $769m.


In seasonally adjusted terms, other goods imports rose $234m (36%) to $877m.


The main component contributing to the rise in the seasonally adjusted estimates was goods for processing, up $220m (45%). Some non-monetary gold is included in goods for processing.


In original terms, other goods imports rose $229m (35%) to $876m.


Imports of services

SERVICES DEBITS
Graph: SERVICES DEBITS



In trend terms, services debits fell $1m to $3,251m.


Seasonally adjusted, services debits rose $28m (1%) to $3,243m.


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

  • travel services, up $19m (2%)
  • other services, up $11m (1%).

Partly offsetting these effects was transportation services, down $2m.


Seasonally adjusted, tourism related services debits rose $19m (1%) to $1,687m.


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