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5368.0 - International Trade in Goods and Services, Australia, Oct 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/11/2006   
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OCTOBER KEY FIGURES

August 2006
September 2006
October 2006
Sep 06 to Oct 06
$m
$m
$m
% change

TREND

Balance on goods and services
-700
-687
-741
. .
Credits (exports of goods & services)
17 900
17 967
17 971
-
Debits (imports of goods & services)
18 600
18 654
18 712
-

SEASONALLY ADJUSTED

Balance on goods and services
-356
-728
-1 263
. .
Credits (exports of goods & services)
17 957
17 676
18 047
2
Debits (imports of goods & services)
18 313
18 404
19 310
5

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

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



OCTOBER KEY POINTS


TREND ESTIMATES
  • The provisional trend estimate of the balance on goods and services was a deficit of $741m in October 2006, an increase of $54m on the revised deficit in September.
  • Goods and services credits rose $4m to $17,971m. Goods and services debits rose $58m to $18,712m.


SEASONALLY ADJUSTED ESTIMATES
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $1,263m in October, an increase of $535m on the revised deficit in September.
  • Goods and services credits rose $371m (2%) to $18,047m. Non-rural and other goods rose $345m (3%) and rural goods rose $8m. Services credits rose $18m.
  • Goods and services debits rose $906m (5%) to $19,310m. Intermediate and other goods rose $459m (6%), consumption goods rose $240m (5%) and capital goods rose $161m (5%). Services debits rose $46m (1%).


ORIGINAL ESTIMATES
  • In original terms, the October balance on goods and services was a deficit of $1,749m, an increase of $475m on the revised deficit in September. Goods and services credits rose $791m (4%) and goods and services debits rose $1,266m (7%).
  • In the four months to October, exports of non-rural and other goods were up $8.2b (20%) and rural goods were up $0.7b (9%) on the corresponding period in 2005-06.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
November 2006 10 January 2007
December 2006 2 February 2007
January 2007 6 March 2007
February 2007 3 April 2007
March 2007 4 May 2007
April 2007 31 May 2007



REVISIONS

Revisions were made to the merchandise trade series to incorporate the latest data available. In the balance of payments series, minor revisions were made to original total goods debits in April (+$3m) and May (-$3m) 2006.



CHANGES TO THIS ISSUE

There are no changes to this issue.



AVAILABILITY OF DETAILED SERVICES DATA

The trade in services data cubes by partner country on a financial year basis, listed under Time Series Data on page 4, have been updated on the ABS web site to incorporate the historical revisions detailed in the August issue of this publication.


The calendar year data, which are normally updated with the March issue of this publication, will be updated to reflect these historical revisions with the November issue.



CHANGES TO EXPORT AND IMPORT STATISTICAL CODES

Statistical codes in the Australian Harmonized Export Commodity Classification (AHECC) and the Customs Tariff will be revised from 1 January 2007. The changes result from the implementation of an update to the international Harmonized Commodity Description and Coding System. The changes will not impact on the presentation of statistics in this publication but will impact on detailed import and export statistics provided via ABS Client Services.


More information about these changes is available from the ABS web site Information Paper: Changes on 1 January 2007 to Statistical Codes in the AHECC and the Customs Tariff, 2007 (cat. no. 1233.0.55.001). Included with the information paper are correspondences between the codes of the current and the updated versions of the AHECC and the Customs Tariff, and correspondences between the updated versions of the AHECC and the Customs Tariff, and related classifications. The correspondences can be used by clients to understand the impact on the detailed import and export statistics.



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 October 2006 was a deficit of $741m, an increase of $54m on the deficit in September.


In seasonally adjusted terms, the balance on goods and services in October 2006 was a deficit of $1,263m, an increase of $535m on the deficit in September.



EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $4m between September and October to $17,971m.


In seasonally adjusted terms, goods and services credits rose $371m (2%) to $18,047m. Non-rural goods rose $270m (3%), other goods rose $75m (8%) and rural goods rose $8m. Services credits rose $18m.


Exports of goods

GOODS CREDITS
Graph: Goods Credits



RURAL GOODS

The trend estimate of rural goods exports rose $17m (1%) to $2,250m.


In seasonally adjusted terms, exports of rural goods rose $8m to $2,236m.


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

  • other rural, up $56m (6%)
  • meat and meat preparations, up $23m (4%).

Largely offsetting these effects was cereal grains and cereal preparations, down $65m (13%).


In original terms, exports of rural goods rose $13m (1%) to $2,296m.


NON-RURAL GOODS

The trend estimate of non-rural goods exports rose $26m to $10,956m.


In seasonally adjusted terms, exports of non-rural goods rose $270m (3%) to $10,979m.


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

  • metal ores and minerals, up $168m (6%), with the largest increases, in original terms, occurring in iron ore and alumina, both largely on increased volumes
  • other mineral fuels, up $110m (9%)
  • metals (excl. gold), up $106m (9%)
  • transport equipment, up $97m (27%).

Partly offsetting these effects were:
  • other non-rural, down $119m (10%)
  • coal, coke and briquettes, down $68m (4%).

In original terms, exports of non-rural goods rose $413m (4%) to $11,459m.


OTHER GOODS

The trend estimate of other goods exports fell $61m (6%) to $986m.


In seasonally adjusted terms, exports of other goods rose $75m (8%) to $1,042m.


The component contributing to the rise in the seasonally adjusted series was non-monetary gold, up $130m (16%).


Partly offsetting this effect were:

  • goods for processing, down $31m (86%)
  • goods procured in ports by carriers, down $24m (20%).

In original terms, exports of other goods rose $73m (7%) to $1,050m.


Exports of services

SERVICES CREDITS
Graph: Services Credits



In trend terms, services credits rose $22m (1%) to $3,779m.


Seasonally adjusted, services credits rose $18m to $3,790m.


All components contributed to the rise in the seasonally adjusted series with:

  • other services, up $12m (1%)
  • transportation services, up $5m (1%)
  • travel services, up $1m.

Seasonally adjusted, tourism related services credits rose $3m to $2,410m.



IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $58m between September and October to $18,712m.


In seasonally adjusted terms, goods and services debits rose $906m (5%) to $19,310m. Other goods rose $336m (58%), consumption goods rose $240m (5%), capital goods rose $161m (5%) and intermediate and other merchandise goods rose $123m (2%). Services debits rose $46m (1%).


Imports of goods

GOODS DEBITS
Graph: Goods Debits



CONSUMPTION GOODS

The trend estimate of imports of consumption goods rose $23m (1%) to $4,506m.


In seasonally adjusted terms, imports of consumption goods rose $240m (5%) to $4,635m.


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

  • non-industrial transport equipment, up $133m (11%)
  • household electrical items, up $53m (14%)
  • consumption goods n.e.s., up $50m (4%).

In original terms, imports of consumption goods rose $458m (10%) to $5,270m.


CAPITAL GOODS

The trend estimate of imports of capital goods rose $29m (1%) to $3,296m.


In seasonally adjusted terms, imports of capital goods rose $161m (5%) to $3,441m.


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

  • machinery and industrial equipment, up $157m (13%)
  • ADP equipment, up $66m (12%).

Partly offsetting these effects were:
  • civil aircraft, down $42m
  • capital goods n.e.s., down $20m (4%).

In original terms, imports of capital goods rose $350m (11%) to $3,649m.


INTERMEDIATE AND OTHER MERCHANDISE GOODS

The trend estimate of imports of intermediate and other merchandise goods fell $4m to $6,609m.


In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $123m (2%) to $6,669m.


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

  • primary industrial supplies n.e.s., up $81m (79%)
  • iron and steel, up $38m (13%)
  • parts for transport equipment, up $37m (5%)
  • other parts for capital goods, up $21m (2%).

Partly offsetting these effects were:
  • other merchandise goods, down $42m (30%)
  • paper and paperboard, down $23m (11%).

In original terms, intermediate and other merchandise goods rose $246m (4%) to $6,853m.


OTHER GOODS

The trend estimate of imports of other goods fell $6m (1%) to $670m.


In both original and seasonally adjusted terms, other goods imports rose $336m (58%) to $916m.


The main component contributing to the rise in the estimates was non-monetary gold, up $317m (74%).


Imports of services

SERVICES DEBITS
Graph: Services Debits



In trend terms, services debits rose $16m to $3,631m.


Seasonally adjusted, services debits rose $46m (1%) to $3,649m.


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

  • transportation services, up $53m (4%), with freight transportation services up $56m (9%)
  • other services, up $16m (2%).

Partly offsetting these effects was travel services, down $23m (2%).


Seasonally adjusted, tourism related services debits fell $63m (3%) to $1,857m.


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