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5368.0 - International Trade in Goods and Services, Australia, Dec 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/02/2009   
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DECEMBER KEY FIGURES

October 2008
November 2008
December 2008
Nov 08 to Dec 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
1 506
1 711
1 820
6
Seasonally adjusted
2 582
979
589
-40
CREDITS (Exports of goods & services)
Trend estimates
26 310
26 694
26 910
1
Seasonally adjusted
27 659
26 492
25 681
-3
DEBITS (Imports of goods & services)
Trend estimates
24 804
24 984
25 091
-
Seasonally adjusted
25 077
25 513
25 092
-2

- nil or rounded to zero (including null cells)

Balance on Goods and Services
Graph: Balance on Goods and Services



DECEMBER KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The trend estimate of the balance on goods and services was a surplus of $1,820m in December 2008, an increase of $109m on a revised surplus in November 2008.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $589m in December 2008, a decrease of $390m on a revised surplus in November 2008.
  • The decrease in the seasonally adjusted surplus was primarily due to the strong fall in non-rural goods credits.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits fell $811m (3%) to $25,681m. Non-rural goods fell $1,004m (6%), other goods fell $31m (2%) and rural goods rose $174m (7%). Services credits rose $50m (1%).
  • The fall in non-rural goods was largely driven by the coal, coke and briquettes component, which fell $679m (11%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits fell $421m (2%) to $25,092m. Other goods fell $766m (41%) and intermediate and other merchandise goods fell $623m (7%) while capital goods rose $861m (20%) and consumption goods rose $85m (2%). Services debits rose $22m.
  • The fall in other goods was driven by the non-monetary gold component, which fell $668m (45%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2009 5 March 2009
February 2009 2 April 2009
March 2009 6 May 2009
April 2009 4 June 2009
May 2009 2 July 2009
June 2009 5 August 2009



REVISIONS

Revisions were made to the previous six months to incorporate the latest available merchandise trade data, and the previous 8 months to incorporate the latest available survey and administrative data relating to international trade in services. In original terms, these revisions have:
  • decreased the November 2008 surplus by $609m.
  • increased the deficit on goods and services for 2007-08 by $193m, with:
      • goods and services credits decreasing by $15m.
      • goods and services debits increasing by $178m.


CHANGES IN THIS ISSUE

Refer to the Confidentiality Restrictions note for details.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 62525540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.


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