5368.0 - International Trade in Goods and Services, Australia, Nov 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/01/2017   
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ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a deficit of $16m in November 2016, a decrease of $503m (97%) on the deficit in October 2016.

In seasonally adjusted terms, the balance on goods and services was a surplus of $1,243m in November 2016, a turnaround of $2,362m on the deficit in October 2016.

GOODS AND SERVICES SUMMARY(a), Seasonally Adjusted and Trend

Change in:
Sep 2016
Oct 2016
Nov 2016
Nov 2016
Nov 2016
$m
$m
$m
$m
%

Seasonally Adjusted

BALANCE on goods and services
-662
-1 119
1 243
2 362
(b). .
CREDITS
Total goods and services
27 672
27 761
30 083
2 322
8
Total goods
21 543
21 608
23 901
2 293
11
Rural goods(c)
3 596
3 391
3 979
588
17
Non-rural goods(c)
16 429
16 504
18 514
2 010
12
Net exports of goods under merchanting(d)
6
5
5
-
-
Non-monetary gold(d)
1 512
1 708
1 403
-305
-18
Total services
6 129
6 153
6 182
29
-
DEBITS
Total goods and services
-28 334
-28 880
-28 840
-40
-
Total goods
-22 000
-22 468
-22 415
-53
-
Consumption goods
-7 771
-7 801
-7 768
-33
-
Capital goods
-5 164
-5 639
-5 502
-137
-2
Intermediate and other merchandise goods
-8 447
-8 574
-8 673
99
1
Non-monetary gold(d)
-618
-455
-472
17
4
Total services
-6 334
-6 411
-6 426
15
-

Trend(e)

BALANCE on goods and services
-1 011
-519
-16
503
97
CREDITS
Total goods and services
27 666
28 198
28 706
508
2
Total goods
21 552
22 041
22 516
475
2
Rural goods(c)
3 496
3 525
3 557
32
1
Non-rural goods(c)
16 319
16 869
17 391
522
3
Net exports of goods under merchanting
7
3
-
-3
-100
Non-monetary gold
1 730
1 644
1 568
-76
-5
Total services
6 113
6 157
6 191
34
1
DEBITS
Total goods and services
-28 677
-28 717
-28 723
6
-
Total goods
-22 313
-22 343
-22 340
-3
-
Consumption goods
-7 883
-7 819
-7 765
-54
-1
Capital goods
-5 336
-5 425
-5 483
58
1
Intermediate and other merchandise goods
-8 521
-8 546
-8 567
21
-
Non-monetary gold
-572
-554
-526
-28
-5
Total services
-6 364
-6 374
-6 382
8
-

. . not applicable
- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) See paragraph 15 of the Explanatory Notes.
(c) For all time periods, estimates for sugar, sugar preparations and honey are included in Non-rural goods.
(d) This component is not seasonally adjusted.
(e) Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, see paragraph 19 of the Explanatory Notes.



EXPORTS OF GOODS AND SERVICES

Between October and November 2016, the trend estimate of goods and services credits rose $508m (2%) to $28,706m.

In seasonally adjusted terms, goods and services credits rose $2,322m (8%) to $30,083m. Non-rural goods rose $2,010m (12%) and rural goods rose $588m (17%). Non-monetary gold fell $305m (18%). Net exports of goods under merchanting remained steady at $5m. Services credits rose $29m.


Exports of goods
GOODS CREDITS

Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Credits

GOODS CREDITS, Seasonally Adjusted

Change in:
Sep 2016
Oct 2016
Nov 2016
Nov 2016
Nov 2016
$m
$m
$m
$m
%

Total goods credits
21 543
21 608
23 901
2 293
11
General merchandise
20 025
19 895
22 493
2 598
13
Rural goods
3 596
3 391
3 979
588
17
Meat and meat preparations
890
780
952
172
22
Cereal grains and cereal preparations
714
687
628
-59
-9
Wool and sheepskins
315
289
304
15
5
Other rural(a)
1 677
1 634
2 095
461
28
Non-rural goods
16 429
16 504
18 514
2 010
12
Metal ores and minerals
6 154
6 113
6 800
687
11
Coal, coke and briquettes(b)
3 532
3 595
4 518
923
26
Other mineral fuels(c)
2 041
2 236
2 366
130
6
Metals (excl. non-monetary gold)
842
756
815
59
8
Machinery
829
837
860
23
3
Transport equipment
418
409
448
39
10
Other manufactures
1 593
1 564
1 574
10
1
Other non-rural (incl. sugar and beverages)(a)
898
860
998
138
16
Goods procured in ports by carriers(c)
122
134
135
1
1
Net exports of goods under merchanting(d)
6
5
5
-
-
Non-monetary gold(d)
1 512
1 708
1 403
-305
-18

- nil or rounded to zero (including null cells)
(a) For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
(b) From July 1971 to June 2005, only a length-of-month adjustment has been applied to this component. From July 2005, this component is seasonally adjusted using seasonal factors derived from a monthly volume series.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(d) This component is not seasonally adjusted.


RURAL GOODS

In trend terms, exports of rural goods rose $32m (1%) to $3,557m.

In seasonally adjusted terms, exports of rural goods rose $588m (17%) to $3,979m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • other rural, up $461m (28%). In original terms on a merchandise trade basis, exports of oil seeds and oleaginous fruits (SITC 22) rose $253m and vegetables and fruit (SITC 05) rose $235m (78%) in November 2016.
  • meat and meat preparations, up $172m (22%).

Partly offsetting these rises was cereal grains and cereal preparations, down $59m (9%).

NON-RURAL GOODS

In trend terms, exports of non-rural goods rose $522m (3%) to $17,391m.

In seasonally adjusted terms, exports of non-rural goods rose $2,010m (12%) to $18,514m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • coal, coke and briquettes, up $923m (26%)
  • metal ores and minerals, up $687m (11%)
  • other non-rural (incl. sugar and beverages), up $138m (16%)
  • other mineral fuels, up $130m (6%).

For price and volume details, see the Selected commodities section.

NET EXPORTS OF GOODS UNDER MERCHANTING

In trend terms, net exports of goods under merchanting fell $3m to $0.1m.

In seasonally adjusted terms, net exports of goods under merchanting remained steady at $5m.

NON-MONETARY GOLD

In trend terms, exports of non-monetary gold fell $76m (5%) to $1,568m.

In original and seasonally adjusted terms, exports of non-monetary gold fell $305m (18%) to $1,403m.


Exports of services
SERVICES CREDITS

Graph: This graph shows the Trend and Seasonally  adjusted estimate for Services Credits

SERVICES CREDITS, Seasonally Adjusted

Change in:
Sep 2016
Oct 2016
Nov 2016
Nov 2016
Nov 2016
$m
$m
$m
$m
%

Total services credits
6 129
6 153
6 182
29
-
Manufacturing services on physical inputs owned by others(a)
-
5
5
-
-
Maintenance and repair services n.i.e.(a)
6
4
4
-
-
Transport
627
645
647
2
-
Passenger(b)
242
245
246
1
-
Freight(c)
25
24
24
-
-
Other
241
243
244
1
-
Postal and courier services(d)
119
132
133
1
1
Travel
3 747
3 777
3 800
23
1
Other services
1 748
1 722
1 726
4
-
Memorandum item
Tourism related services credits(e)
3 989
4 022
4 046
24
1

- nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.
(b) Passenger services includes agency fees and commissions for air transport.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.


In trend terms, services credits rose $34m (1%) to $6,191m.

In seasonally adjusted terms, services credits rose $29m to $6,182m.

The main component contributing to the rise in seasonally adjusted estimates was travel, up $23m (1%).

In seasonally adjusted terms, tourism related services credits rose $24m (1%) to $4,046m.

In seasonally adjusted terms, total services credits contributed 21% of total goods and services exported.


IMPORTS OF GOODS AND SERVICES

Between October and November 2016, the trend estimate of goods and services debits rose $6m to $28,723m.

In seasonally adjusted terms, goods and services debits fell $40m to $28,840m. Capital goods fell $137m (2%) and consumption goods fell $33m. Intermediate and other merchandise goods rose $99m (1%) and non-monetary gold rose $17m (4%). Services debits rose $15m.


Imports of goods
GOODS DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Goods Debits

GOODS DEBITS(a), Seasonally Adjusted

Change in:
Sep 2016
Oct 2016
Nov 2016
Nov 2016
Nov 2016
$m
$m
$m
$m
%

Total goods debits
-22 000
-22 468
-22 415
-53
-
General merchandise
-21 382
-22 013
-21 943
-70
-
Consumption goods
-7 771
-7 801
-7 768
-33
-
Food and beverages, mainly for consumption
-1 145
-1 154
-1 166
12
1
Household electrical items
-461
-460
-490
30
7
Non-industrial transport equipment
-1 828
-1 870
-1 758
-112
-6
Textiles, clothing and footwear
-1 333
-1 354
-1 401
47
3
Toys, books and leisure goods
-527
-488
-535
47
10
Consumption goods n.e.s.
-2 476
-2 475
-2 419
-56
-2
Capital goods
-5 164
-5 639
-5 502
-137
-2
Machinery and industrial equipment
-1 580
-1 648
-1 534
-114
-7
ADP equipment
-757
-753
-765
12
2
Telecommunications equipment
-947
-948
-910
-38
-4
Civil aircraft and confidentialised items(b)(c)
-159
-250
-318
68
27
Industrial transport equipment n.e.s.
-769
-1 052
-852
-200
-19
Capital goods n.e.s.(d)
-952
-989
-1 122
133
13
Intermediate and other merchandise goods
-8 447
-8 574
-8 673
99
1
Food and beverages, mainly for industry
-149
-145
-151
6
4
Primary industrial supplies n.e.s.(d)
-151
-139
-205
66
47
Fuels and lubricants(c)
-2 055
-2 112
-2 220
108
5
Parts for transport equipment
-943
-951
-998
47
5
Parts for ADP equipment
-58
-56
-50
-6
-11
Other parts for capital goods
-1 147
-1 165
-1 128
-37
-3
Organic and inorganic chemicals
-341
-315
-309
-6
-2
Paper and paperboard
-196
-192
-190
-2
-1
Textile yarn and fabrics
-119
-118
-120
2
2
Iron and steel
-188
-205
-235
30
15
Plastics
-316
-311
-311
-
-
Processed industrial supplies n.e.s.
-2 630
-2 695
-2 611
-84
-3
Other merchandise goods(b)(e)
-57
-76
-50
-26
-34
Goods procured in ports by carriers(c)
-98
-94
-94
-
-
Non-monetary gold(c)
-618
-455
-472
17
4

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) From July 2008, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Civil aircraft and confidentialised items. For earlier periods, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Other merchandise goods.
(c) This component is not seasonally adjusted.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) From July 1981, this component is not seasonally adjusted.


CONSUMPTION GOODS

In trend terms, imports of consumption goods fell $54m (1%) to $7,765m.

In seasonally adjusted terms, imports of consumption goods fell $33m to $7,768m.

The main component contributing to the fall in seasonally adjusted estimates was non-industrial transport equipment, down $112m (6%).

Partly offsetting this fall were:
  • toys, books and leisure goods, up $47m (10%)
  • textiles, clothing and footwear, up $47m (3%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $58m (1%) to $5,483m.

In seasonally adjusted terms, imports of capital goods fell $137m (2%) to $5,502m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • industrial transport equipment n.e.s., down $200m (19%)
  • machinery and industrial equipment, down $114m (7%).

Partly offsetting these falls were:
  • capital goods n.e.s., up $133m (13%)
  • civil aircraft and confidentialised items, up $68m (27%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $21m to $8,567m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $99m (1%) to $8,673m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • fuels and lubricants, up $108m (5%)
  • primary industrial supplies n.e.s., up $66m (47%).

Partly offsetting these rises were:
  • processed industrial supplies n.e.s., down $84m (3%)
  • other parts for capital goods, down $37m (3%)
  • other merchandise goods, down $26m (34%).

NON-MONETARY GOLD

In trend terms, imports of non-monetary gold fell $28m (5%) to $526m.

In original and seasonally adjusted terms, imports of non-monetary gold rose $17m (4%) to $472m.


Imports of services
SERVICES DEBITS

Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits

SERVICES DEBITS(a), Seasonally Adjusted

Change in:
Sep 2016
Oct 2016
Nov 2016
Nov 2016
Nov 2016
$m
$m
$m
$m
%

Total services debits
-6 334
-6 411
-6 426
15
-
Manufacturing services on physical inputs owned by others(b)
-
-
-
-
-
Maintenance and repair services n.i.e.(b)
-85
-59
-58
-1
-2
Transport
-1 319
-1 428
-1 422
-6
-
Passenger(c)
-580
-593
-597
4
1
Freight
-668
-679
-669
-10
-1
Other(b)
-61
-144
-144
-
-
Postal and courier services(d)(e)
-10
-12
-12
-
-
Travel
-2 868
-2 862
-2 877
15
1
Other services
-2 062
-2 062
-2 069
7
-
Memorandum item
Tourism related services debits(f)
-3 448
-3 455
-3 474
19
1

- nil or rounded to zero (including null cells)
(a) For sign conventions, see paragraph 15 of the Explanatory Notes.
(b) This component is not seasonally adjusted.
(c) Passenger services includes agency fees and commissions for air transport.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(f) For a more detailed explanation of tourism related services, see paragraph 29 of the Explanatory Notes.


In trend terms, services debits rose $8m to $6,382m.

In seasonally adjusted terms, services debits rose $15m to $6,426m.

The main component contributing to the rise in seasonally adjusted estimates was travel, up $15m (1%).

In seasonally adjusted terms, tourism related services debits rose $19m (1%) to $3,474m.

In seasonally adjusted terms, total services debits contributed 22% of total goods and services imported.


Selected commodities

Selected commodities, Quantity and unit value analysis - International merchandise trade basis(a): Original terms

Change in
Jun 2016
Jul 2016
Aug 2016
Sep 2016
Oct 2016
Nov 2016
%
%
%
%
%
%

Iron ore

Lump
Quantity
-3
1
7
-4
3
1
Unit value
-9
7
5
-2
-4
12
Fines
Quantity
1
-5
9
-5
2
1
Unit value
-9
5
5
-1
-2
11

Coal

Hard coking
Quantity
-5
-11
6
3
-15
12
Unit value
3
-
p5
p16
p-3
p20
Semi-soft
Quantity
9
-21
21
-4
-3
14
Unit value
1
-
-
10
p11
p13
Thermal
Quantity
3
8
-11
15
-14
1
Unit value
-2
1
5
9
11
16

Gas

LNG
Quantity
22
9
8
-1
4
5
Unit value
-
3
6
4
2
5

- nil or rounded to zero (including null cells)
p preliminary figure or series subject to revision
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.


International merchandise trade exports data presented in the above table are based on information reported by exporters to the Department of Immigration and Border Protection (DIBP). For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to DIBP. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to DIBP. When additional information for these commodities is available, the ABS may adjust the data to reflect actual transaction values.

Unit values in this publication are presented in Australian dollar terms. Movements in the unit values for some commodities incorporate movements in the United States dollar prices reported to DIBP and movements in the Australian dollar to United States dollar exchange rate.

On an international merchandise trade basis, in original terms (noting the footnote in the above table), between October and November 2016 the largest movements recorded for the following selected commodities were:

Iron ore lump, up $153m (12%), with quantities up 1% and unit values up 12%. Exports to:
  • China (excluding SARs and Taiwan) rose $73m (8%), with quantities down 5% and unit values up 13%
  • the Republic of Korea rose $33m (66%), with quantities up 54% and unit values up 8%
  • Japan rose $28m (16%), with quantities up 10% and unit values up 5%
  • Taiwan rose $18m (33%), with quantities up 16% and unit values up 15%.

Iron ore fines, up $391m (12%), with quantities up 1% and unit values up 11%. Exports to:
  • China (excluding SARs and Taiwan) rose $230m (8%), with quantities down 3% and unit values up 11%
  • Japan rose $91m (52%), with quantities up 44% and unit values up 5%
  • the Republic of Korea rose $29m (14%), with quantities down 2% and unit values up 16%
  • Taiwan rose $26m (79%), with quantities up 60% and unit values up 12%.

Hard coking coal, up $432m (34%), with quantities up 12% and unit values up 20%. Exports to:
  • China (excluding SARs and Taiwan) rose $295m, with unit values up 29%
  • India rose $142m (41%), with quantities up 19% and unit values up 18%.

Semi-soft coal, up $180m (29%), with quantities up 14% and unit values up 13%. Exports to:
  • India rose $64m (74%), with quantities up 51% and unit values up 15%
  • the Republic of Korea rose $60m (59%), with quantities up 27% and unit values up 25%
  • Brazil rose $36m, with unit values up 31%.

Thermal coal, up $229m (16%), with quantities up 1% and unit values up 16%. Exports to:
  • Japan rose $114m (20%), with quantities up 1% and unit values up 19%
  • China (excluding SARs and Taiwan) rose $78m (28%), with quantities up 11% and unit values up 15%
  • the Republic of Korea rose $28m (18%), with quantities up 5% and unit values up 12%.

Liquefied natural gas (LNG), up $175m (10%), with quantities up 5% and unit values up 5%.