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5368.0 - International Trade in Goods and Services, Australia, Oct 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/12/2011   
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OCTOBER KEY FIGURES

Aug 2011
Sep 2011
Oct 2011
Sep 11 to Oct 11
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
2 116
2 147
2 156
. .
Seasonally adjusted
2 627
2 249
1 595
. .
CREDITS (Exports of goods & services)
Trend estimates
27 167
27 404
27 573
1
Seasonally adjusted
28 036
27 369
27 320
-
DEBITS (Imports of goods & services)
Trend estimates
25 052
25 257
25 416
1
Seasonally adjusted
25 409
25 120
25 725
2

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

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 $2,156m in October 2011, a rise of $9m on the surplus in September 2011.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $1,595m in October 2011, a fall of $654m on the surplus in September 2011.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits fell $49m to $27,320m. Non-monetary gold fell $197m (15%) and net exports of goods under merchanting fell $3m (60%). Rural goods rose $60m (2%) and non-rural goods rose $14m. Services credits rose $77m (2%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $605m (2%) to $25,725m. Non-monetary gold rose $334m (57%), intermediate and other merchandise goods rose $173m (2%), capital goods rose $60m (1%) and consumption goods rose $48m (1%). Services debits fell $10m.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
November 2011 5 January 2012
December 2011 2 February 2012
January 2012 9 March 2012
February 2012 4 April 2012
March 2012 8 May 2012
April 2012 8 June 2012



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and information on capital goods that have changed ownership but not crossed the Customs frontier:
  • on a recorded trade basis, international merchandise exports and imports have been revised back to April 2011
  • on a balance of payments basis, the goods debits, 'capital goods n.e.s.' component has been revised back to July 2011. No other components in the balance of payments series have been revised.

The revised goods debits data aligns with the data published in the September quarter 2011 issues of Balance of Payments and International Investment Position (cat. no. 5302.0) and Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0).

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have:
  • decreased the surplus on goods and services for the three months to September 2011 by $1,021m.

Seasonally adjusted and trend series have been revised due to the incorporation of the revisions and estimates for the latest month.


VALUE ADJUSTMENTS

Goods credits - Iron ore and coal
  • for this issue, a positive adjustment of $200m has been applied to the 'metal ores and minerals' component
  • no adjustments have been made to the 'coal, coke and briquettes' component.

Goods debits - Capital expenditure
  • the balance of payments goods debits component 'capital goods n.e.s.' includes an estimate of expenditure on capital goods that have changed ownership but have not yet crossed the Customs frontier.


RELATED RELEASES

For related recent and upcoming releases. See the Related releases page.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.


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