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5368.0 - International Trade in Goods and Services, Australia, Oct 2010 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/12/2010   
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OCTOBER KEY FIGURES

Aug 2010
Sep 2010
Oct 2010
Sep 10 to Oct 10
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
2 360
2 418
2 446
. .
Seasonally adjusted
2 385
1 814
2 625
. .
CREDITS (Exports of goods & services)
Trend estimates
24 823
24 668
24 476
-1
Seasonally adjusted
24 419
24 071
24 324
1
DEBITS (Imports of goods & services)
Trend estimates
22 463
22 251
22 029
-1
Seasonally adjusted
22 034
22 257
21 699
-3

. . not applicable

Balance on Goods and Services
Graph: Graph This graph show the Balance on Goods and Services for the Trend and Seasonally adjusted series



OCTOBER KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $2,446m in October 2010, an increase of $28m on the surplus in September 2010.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $2,625m in October 2010, an increase of $811m on the surplus in September 2010.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $253m (1%) to $24,324m. Non-monetary gold rose $414m (36%) and rural goods rose $181m (8%). Non-rural goods fell $245m (2%) and net exports of goods under merchanting fell $23m (79%). Services credits fell $73m (2%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits fell $558m (3%) to $21,699m. Intermediate and other merchandise goods fell $411m (5%), consumption goods fell $111m (2%) and non-monetary gold fell $48m (8%). Capital goods rose $5m. Services debits rose $8m.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
November 2010 11 January 2011
December 2010 3 February 2011
January 2011 3 March 2011
February 2011 5 April 2011
March 2011 10 May 2011
April 2011 2 June 2011



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade. There were no revisions to the balance of payments series in original terms.


IRON ORE AND COAL PRICES

An adjustment has been made to the value of the 'metal ores and minerals' component in the balance of payments series. See the section Commodity prices adjustment for details.


TRADE IN SERVICES DATA CUBES

Financial Year Trade in Services data cubes incorporating data for 2009-10 (cat. no. 5368.0.55.003) will be released on 3 December 2010.


CONCEPTS, SOURCES AND METHODS PUBLICATION

The next issue of Balance of Payments and International Investment Position, Australia: Concepts, Sources and methods - 2011 (cat. no. 5331.0), is scheduled to be released on 8 March 2011. This issue will describe the concepts, sources and methods used to compile the balance of payments statistics in this publication which are on a Balance of Payments and International Investment Position manual, sixth edition (BPM6) basis.


CHANGES IN THIS ISSUE

Summary information on Australia's top 10 partner countries has been included in this issue. Further partner country information for merchandise trade (tables 14a & 14b) is available from the Downloads tab of this issue and for trade in services will be available from Financial Year Trade in Services data cubes incorporating data for 2009-10 (cat. no. 5368.0.55.003) which will be released on 3 December 2010.

The Australian Harmonized Export Commodity Classification (AHECC), Jan 2007 (cat. no. 1233.0) incorporating statistical codes to take effect from 1 January 2011 was released on the ABS website on 26 November 2010.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for Goods, and Peter Bradbury on Canberra (02) 6252 6473 for Services.


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