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5368.0 - International Trade in Goods and Services, Australia, Mar 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/05/2012   
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MARCH KEY FIGURES

Jan 2012
Feb 2012
Mar 2012
Feb 12 to Mar 12
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-203
-772
-1 239
. .
Seasonally adjusted
-843
-754
-1 587
. .
CREDITS (Exports of goods & services)
Trend estimates
25 594
24 978
24 492
-2
Seasonally adjusted
25 019
24 129
24 521
2
DEBITS (Imports of goods & services)
Trend estimates
25 797
25 750
25 732
-
Seasonally adjusted
25 862
24 883
26 107
5

. . 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



MARCH KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a deficit of $1,239m in March 2012, a rise of $467m on the deficit in February 2012.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $1,587m in March 2012, a rise of $833m on the deficit in February 2012.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $392m (2%) to $24,521m. Rural goods rose $199m (8%) and non-monetary gold rose $75m (6%). Non-rural goods fell $38m. Net exports of goods under merchanting remained steady at $30m. Services credits rose $156m (4%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $1,224m (5%) to $26,107m. Intermediate and other merchandise goods rose $804m (9%), consumption goods rose $317m (6%) and capital goods rose $65m (1%). Non-monetary gold fell $90m (17%). Services debits rose $128m (2%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
April 2012 8 June 2012
May 2012 5 July 2012
June 2012 2 August 2012
July 2012 7 September 2012
August 2012 3 October 2012
September 2012 5 November 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 September 2011
  • on a balance of payments basis, goods and services have been revised back to July 2010.

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 2010-11 by $586m
  • decreased the surplus on goods and services for the eight months to February 2012 by $662m.

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

The goods debits estimates included in this publication reflect recently obtained information and differ from the preliminary estimates for goods debits published in the March 2012 issue of International Merchandise Imports, Australia (cat. no. 5439.0).


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'coal, coke and briquettes' and 'capital goods n.e.s.' components in the balance of payments series.

See the section Commodity value adjustment for details.


RELATED RELEASES

See the section Related releases for details.


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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