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5368.0 - International Trade in Goods and Services, Australia, Feb 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/04/2013   
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FEBRUARY KEY FIGURES

Dec 2012
Jan 2013
Feb 2013
Jan 13 to Feb 13
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-1 330
-991
-662
33
Seasonally adjusted
-642
-1 215
-178
85
CREDITS (Exports of goods & services)
Trend estimates
24 776
25 049
25 329
1
Seasonally adjusted
25 092
24 831
25 642
3
DEBITS (Imports of goods & services)
Trend estimates
26 107
26 040
25 991
-
Seasonally adjusted
25 735
26 046
25 820
-1

- nil or rounded to zero (including null cells)

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



FEBRUARY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a deficit of $662m in February 2013, a fall of $329m (33%) on the deficit in January 2013.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $178m in February 2013, a fall of $1,037m (85%) on the deficit in January 2013.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $811m (3%) to $25,642m. Non–rural goods rose $714m (4%) and rural goods rose $202m (7%). Net exports of goods under merchanting remained steady at $20m. Non–monetary gold fell $143m (10%). Services credits rose $38m (1%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits fell $226m (1%) to $25,820m. Capital goods fell $253m (4%) and non–monetary gold fell $32m (9%). Intermediate and other merchandise goods rose $41m and consumption goods rose $3m. Services debits rose $15m.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2013 7 May 2013
April 2013 6 June 2013
May 2013 3 July 2013
June 2013 6 August 2013
July 2013 5 September 2013
August 2013 2 October 2013



REVISIONS

Revisions have been made to incorporate the latest data relating to international trade in goods and services since the last issue of this publication:
  • on an international merchandise trade basis, imports have been revised back to April 2010 and exports back to August 2012
  • on a balance of payments basis, goods credits and services credits and debits have been revised back to July 2011, and goods debits back to September 2011.

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 2011–12 by $248m
  • increased the deficit on goods and services for the seven months to January 2013 by $229m.


CHANGES IN THIS AND FORTHCOMING ISSUES

Changes in this issue:
  • Revisions to merchandise trade data outside the normal revision period.

Changes in forthcoming issues:
  • Amendment to Schedule 4 of Customs Tariff
  • Changes to country name presented on a country basis.

See the Changes in this and forthcoming issues section for details.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'capital goods n.e.s.' component in the balance of payments series.

See the Value adjustments section for details.


RELATED RELEASE

The Information Paper: Amendments to Schedule 4 of Customs Tariff (cat. no. 5368.0.55.019) was released on 19 March 2013. It includes information on new treatment codes, commodity codes and a correspondence between the ceasing codes and the replacement codes.


INQUIRIES

For further information contact Val Tot on Canberra (02) 62525540 for Goods, and Lauren Binns on Hobart (03) 6222 5926 for Services.


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