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5368.0 - International Trade in Goods and Services, Australia, Jan 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/03/2008   
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JANUARY KEY FIGURES

November 2007
December 2007
January 2008
Dec 07 to Jan 08
$m
$m
$m
% change

BALANCE ON GOODS AND SERVICES
Trend estimates
-2 316
-2 412
-2 521
-5
Seasonally adjusted
-2 173
-1 937
-2 723
-41
CREDITS (Exports of goods & services)
Trend estimates
18 286
18 480
18 656
1
Seasonally adjusted
18 376
18 698
19 020
2
DEBITS (Imports of goods & services)
Trend estimates
20 602
20 892
21 177
1
Seasonally adjusted
20 550
20 636
21 742
5

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



JANUARY KEY POINTS


BALANCE ON GOODS AND SERVICES
  • The provisional trend estimate of the balance on goods and services was a deficit of $2,521m in January 2008, an increase of $109m (5%) on the revised deficit in December 2007.
  • In seasonally adjusted terms, the balance on goods and services was a deficit of $2,723m in January 2008, an increase of $786m (41%) on the revised deficit in December 2007.
  • The increase in the seasonally adjusted deficit was due to the rise in goods and services debits, mainly intermediate and other goods, outweighing the rise in goods and services credits, mainly non-rural and other goods.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services credits rose $322m (2%) to $19,020m. Non-rural and other goods rose $296m (2%) and rural goods rose $25m (1%). Services credits rose $1m.
  • The rise in non-rural and other goods was driven by non-monetary gold, which rose $316m (36%) and metal ores and minerals, which rose $312m (10%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • Seasonally adjusted, goods and services debits rose $1,106m (5%) to $21,742m. Intermediate and other goods rose $984m (13%) and consumption goods rose $144m (3%) while capital goods fell $105m (3%). Services debits rose $82m (2%).
  • The rise in intermediate and other goods was driven mainly by non-monetary gold, which rose $410m (120%) and fuels and lubricants, which rose $372m (16%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
February 2008 7 April 2008
March 2008 6 May 2008
April 2008 5 June 2008
May 2008 3 July 2008
June 2008 31 July 2008
July 2008 4 September 2008



REVISIONS

Revisions were made to the previous six months to incorporate the latest available merchandise trade data.


International trade in services data for other services debits in financial year 2005-06 have been revised. In original terms, these revisions have increased the deficit on good and services for 2005-06 by $88m.


There were no other revisions to the balance of payments series in original terms. The seasonally adjusted and trend estimates have been revised due to the use of concurrent seasonal adjustment (see Paragraph 8 in Explanatory Notes).



CHANGES IN THIS ISSUES

As advised in the December 2007 issue, a revised front page format has been introduced in this issue. The 'key points' section will enable more information to be provided explaining reasons for movements in components and balances and unusual occurrences during the month.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Selvi Sekhar on Canberra (02) 62525540.


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