The ABS are making changes to the International Trade in Goods and Services, Australia publication and the international trade work program. For more information on the changes and to provide feedback, see paper released on 5 October titled, Enhancing the quality of Australia's international trade statistics.
International Trade in Goods and Services, Australia
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Statistics about international trade in goods and services, on a balance of payments and international trade basis
Reference period
August 2021
Released
5/10/2021
Key statistics
- The seasonally adjusted balance on goods and services surplus increased $2,427m to $15,077m in August
- Goods and services credits (exports) rose $1,923m (4%) to $48,524m
- Goods and services debits (imports) fell $506m (1%) to $33,446m
Main features
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | ||
|---|---|---|---|---|---|---|
| Balance on goods and services | 11,680 | 12,650 | 15,077 | 2,427 | na | |
| Credits (Exports of goods & services) | 44,437 | 46,601 | 48,524 | 1,923 | 4 | |
| Debits (Imports of goods & services) | -32,757 | -33,952 | -33,446 | -506 | -1 | |
na not applicable
COVID-19
Suspension of trend estimates
The trend series attempts to measure underlying behaviour in international trade activity. In the short term, this measurement will be significantly affected by the COVID-19 pandemic and subsequent changes to regular patterns in international trade resulting from it. If the trend estimates in this publication were to be calculated without fully accounting for this unusual event they would provide a misleading view of underlying international trade activity.
It may be some time before the underlying trend in international trade activity can be accurately estimated. The trend series has therefore been suspended from March 2019 and will be reinstated when more certainty emerges.
Seasonal adjustment and COVID-19
International Accounts uses the concurrent seasonal adjustment method, meaning that seasonal factors are re-estimated each time new data becomes available. If not appropriately accounted for, unusual events such as COVID-19 can distort estimates calculated using this method. From March 2020, seasonal factors for series that have been notably impacted by COVID-19 will be calculated using data up to and including February 2020, then projected from March 2020 onwards. This approach, known as the forward factor method, ensures that seasonal factors are not distorted by COVID-19 impacts.
The ABS has advised users that it moved to using forward factors for seasonal analysis of a number of series, including Travel Services. Current ABS (and international) practice requires at least three years of data to assess whether a change in seasonal pattern has occurred. Should COVID-19 result in a long-term change to the seasonal pattern then revisions to these series may occur in the future. The ABS will consult with users on any future methods changes to seasonal adjustment and potential revisions. The Feature Article International travel services time series outlines the matter in greater detail.
Balance on goods and services
In seasonally adjusted terms, the balance on goods and services was a surplus of $15,077m in August 2021, an increase of $2,427m on the surplus in July 2021.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||
|---|---|---|---|---|---|---|---|
| Balance on goods and services | 11,680 | 12,650 | 15,077 | 2,427 | na | ||
| Total goods and services credits | 44,437 | 46,601 | 48,524 | 1,923 | 4 | ||
| Total goods credits | 39,114 | 41,700 | 43,749 | 2,049 | 5 | ||
| Total services credits | 5,323 | 4,901 | 4,774 | - 127 | - 3 | ||
| Total goods and services debits | - 32,757 | - 33,952 | - 33,446 | - 506 | - 1 | ||
| Total goods debits | - 28,406 | - 29,613 | - 29,057 | - 556 | - 2 | ||
| Total services debits | - 4,351 | - 4,338 | - 4,389 | 51 | 1 | ||
na not applicable
(a) For sign conventions, see the Explanatory notes.
Goods and services credits (exports), seasonally adjusted
Goods credits
(a) Trend series suspended from March 2019.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | ||||
|---|---|---|---|---|---|---|---|---|
| Total goods credits | 39,114 | 41,700 | 43,749 | 2,049 | 5 | |||
| General merchandise | 36,938 | 39,579 | 41,281 | 1,702 | 4 | |||
| Rural goods | 4,510 | 4,871 | 5,422 | 551 | 11 | |||
| Non-rural goods | 32,427 | 34,709 | 35,859 | 1,150 | 3 | |||
| Net exports of goods under merchanting(a) | 37 | 37 | 34 | - 3 | - 8 | |||
| Non-monetary gold(a) | 2,139 | 2,084 | 2,434 | 350 | 17 | |||
(a) This component is not seasonally adjusted.
Rural goods
Rural goods rose $551m (11%), led by Cereal grains and cereal preparations, which increased 17% in August. Supply and production disruptions affecting key wheat exporting nations continue to create advantageous conditions for Australian exporters.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||
|---|---|---|---|---|---|---|---|
| Rural goods | 4,510 | 4,871 | 5,422 | 551 | 11 | ||
| Meat and meat preparations | 1,176 | 1,327 | 1,414 | 87 | 7 | ||
| Cereal grains and cereal preparations | 1,193 | 1,159 | 1,352 | 193 | 17 | ||
| Wool and sheepskins | 334 | 386 | 615 | 229 | 59 | ||
| Other rural(a) | 1,808 | 1,999 | 2,041 | 42 | 2 | ||
(a) For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
Non-rural goods
Non-rural goods rose $1,150m (3%), driven by other mineral fuels and coal, coke and briquettes.
The increase in other mineral fuels was driven by LNG, with strong energy demand in Asia as economic activity rebounds from COVID-19 related disruptions.
The increase in coal, coke and briquettes was driven by hard coking coal and thermal coal. The increase in thermal coal also coincides with strong energy demand in Asia as well as reduced supply from other key thermal coal producing nations.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | ||
|---|---|---|---|---|---|---|
| Non-rural goods | 32 427 | 34 709 | 35 859 | 1 150 | 3 | |
| Metal ores and minerals(a) | 18 769 | 19 238 | 18 502 | - 736 | - 4 | |
| Coal, coke and briquettes(a) | 3 964 | 4 785 | 5 393 | 608 | 13 | |
| Other mineral fuels(a) | 4 328 | 5 121 | 5 927 | 806 | 16 | |
| Metals (excl. non-monetary gold) | 1 005 | 1 152 | 1 427 | 275 | 24 | |
| Machinery | 923 | 916 | 951 | 35 | 4 | |
| Transport equipment | 365 | 326 | 328 | 2 | 1 | |
| Other manufactures | 1 780 | 1 871 | 1 916 | 45 | 2 | |
| Other non-rural (incl. sugar and beverages)(b) | 1 102 | 1 106 | 1 223 | 117 | 11 | |
| Goods procured in ports by carriers(c) | 192 | 194 | 193 | - 1 | - 1 | |
(a) Prior to August 2021, the July 2005 to June 2019 component of this series was seasonally adjusted using seasonal factors derived from a monthly volume series. From August 2021, this component is directly adjusted from July 2005 onward.
(b) For all time periods, estimates for sugar, sugar preparations and honey are included in Other non-rural.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
For price and volume details, see the Selected commodities information available in the supplementary-information section.
Services credits
(a) Trend series suspended from March 2019
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||
|---|---|---|---|---|---|---|---|
| Total services credits | 5,323 | 4,901 | 4,774 | - 127 | - 3 | ||
| Manufacturing services on physical inputs owned by others(a) | 2 | 3 | 3 | - | - | ||
| Maintenance and repair services n.i.e.(a) | 1 | 1 | 1 | - | - | ||
| Transport | 335 | 327 | 323 | - 4 | - 1 | ||
| Passenger(b)(c) | 14 | 7 | 2 | - 5 | - 71 | ||
| Freight(d) | 25 | 27 | 27 | - | - | ||
| Other | 158 | 152 | 152 | - | - | ||
| Postal and courier services(e) | 138 | 141 | 141 | - | - | ||
| Travel(c) | 2,312 | 1,876 | 1,726 | - 150 | - 8 | ||
| Other services | 2,673 | 2,694 | 2,721 | 27 | 1 | ||
| Memorandum item | |||||||
| Tourism related services credits(f) | 2,326 | 1,883 | 1,729 | - 154 | - 8 | ||
- nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.
(b) Passenger transportation services includes agency fees and commissions for air transport.
(c) This component has been seasonally adjusted using the forward factor method since March 2020 due to the impacts of COVID-19.
(d) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(e) Postal and courier services includes indirect commissions for sea transport.
(f) For a more detailed explanation of tourism related services, see the Explanatory notes
Goods and services debits (imports), seasonally adjusted
Goods debits
(a) Trend series suspended from March 2019
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||
|---|---|---|---|---|---|---|---|
| Total goods debits | - 28,406 | - 29,613 | - 29,057 | - 556 | - 2 | ||
| General merchandise debits | - 27,843 | - 29,176 | - 28,466 | - 710 | - 2 | ||
| Consumption goods | - 9,675 | - 9,392 | - 9,798 | 406 | 4 | ||
| Capital goods | - 7,057 | - 7,042 | - 6,759 | - 283 | - 4 | ||
| Intermediate and other merchandise goods | - 11,111 | - 12,742 | - 11,909 | - 833 | - 7 | ||
| Non-monetary gold(b) | - 563 | - 437 | - 591 | 154 | 35 | ||
(a) For sign conventions, see the Explanatory notes.
(b) This component is not seasonally adjusted.
Consumption goods
Consumption goods increased $406m (4%), led by non-industrial transport equipment which recorded a historic high coinciding with strong demand for passenger vehicles.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | ||
|---|---|---|---|---|---|---|
| Consumption goods | - 9,675 | - 9,392 | - 9,798 | 406 | 4 | |
| Food and beverages, mainly for consumption | - 1,382 | - 1,385 | - 1,456 | 71 | 5 | |
| Household electrical items | - 609 | - 575 | - 554 | - 21 | - 4 | |
| Non-industrial transport equipment | - 2,376 | - 2,269 | - 2,542 | 273 | 12 | |
| Textiles, clothing and footwear | - 1,719 | - 1,645 | - 1,631 | - 14 | - 1 | |
| Toys, books and leisure goods | - 608 | - 608 | - 616 | 8 | 1 | |
| Consumption goods n.e.s. | - 2,980 | - 2,911 | - 2,998 | 87 | 3 | |
(a) For sign conventions, see the Explanatory notes.
Capital goods
Capital goods fell $283m (4%), driven by capital goods n.e.s. This fall follows a strong July due to ship imports not repeated in August.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||||
|---|---|---|---|---|---|---|---|---|---|
| Capital goods | -7,057 | -7,042 | -6,759 | -283 | -4 | ||||
| Machinery and industrial equipment | -2,486 | -2,355 | -2,403 | 48 | 2 | ||||
| ADP equipment | -924 | -1,150 | -1,197 | 47 | 4 | ||||
| Telecommunications equipment | -1,018 | -1,061 | -1,039 | -22 | -2 | ||||
| Civil aircraft and confidentialised items(b)(c) | -340 | -339 | -401 | 62 | 18 | ||||
| Industrial transport equipment n.e.s. | -1,543 | -1,214 | -1,127 | -87 | -7 | ||||
| Capital goods n.e.s.(d) | -746 | -923 | -592 | -331 | -36 | ||||
(a) For sign conventions, see 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.
Intermediate and other merchandise goods
Intermediate and other merchandise goods fell $833m (7%), led by other parts for capital goods.
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | ||||
|---|---|---|---|---|---|---|---|---|
| Intermediate and other merchandise goods | - 11,111 | -12,742 | - 11,909 | - 833 | - 7 | |||
| Food and beverages, mainly for industry | - 149 | - 167 | - 178 | 11 | 7 | |||
| Primary industrial supplies n.e.s.(b) | - 221 | - 278 | - 200 | - 78 | - 28 | |||
| Fuels and lubricants(c) | - 3,214 | - 3,104 | - 3,207 | 103 | 3 | |||
| Parts for transport equipment | - 1,173 | - 1,256 | - 1,270 | 14 | 1 | |||
| Parts for ADP equipment | - 79 | - 70 | - 82 | 12 | 17 | |||
| Other parts for capital goods | - 1,560 | - 2,825 | - 1,614 | - 1,211 | - 43 | |||
| Organic and inorganic chemicals | - 325 | - 297 | - 340 | 43 | 14 | |||
| Paper and paperboard | - 188 | - 199 | - 200 | 1 | 1 | |||
| Textile yarn and fabrics | - 143 | - 144 | - 144 | - | - | |||
| Iron and steel | - 267 | - 275 | - 339 | 64 | 23 | |||
| Plastics | - 433 | - 422 | - 432 | 10 | 2 | |||
| Processed industrial supplies n.e.s. | - 3,314 | - 3,608 | - 3,733 | 125 | 3 | |||
| Other merchandise goods(e) | - 34 | - 90 | - 162 | 72 | 80 | |||
| Goods procured in ports by carriers(d) | - 12 | - 8 | - 7 | - 1 | - 13 | |||
- nil or rounded to zero (including null cells)
(a) For sign conventions, see the Explanatory Notes.
(b) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(c) Prior to October 2011 this series is not seasonally adjusted.
(d) Prior to April 2010 this series is not seasonally adjusted.
(d) From July 2008, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Civil aircraft and confidentialised items. For earlier periods, commodities subject to a 'no commodity details' or 'no value details' restriction are included in Other merchandise goods.
Services debits
(a) Trend series suspended from March 2019
| Jun-21 ($m) | Jul-21 ($m) | Aug-21 ($m) | Jul-21 to Aug-21 ($m) | Jul-21 to Aug-21 (%) | |||
|---|---|---|---|---|---|---|---|
| Total services debits | - 4,351 | - 4,338 | - 4,389 | 51 | 1 | ||
| Manufacturing services on physical inputs owned by others(b) | - | - | - | - | - | ||
| Maintenance and repair services n.i.e.(b) | - 45 | - 54 | - 41 | - 13 | - 24 | ||
| Transport | - 1,398 | - 1,450 | - 1,496 | 46 | 3 | ||
| Passenger(c)(d) | - 81 | - 67 | - 62 | - 5 | - 7 | ||
| Freight | - 1,277 | - 1,348 | - 1,399 | 51 | 4 | ||
| Other(b) | - 21 | - 16 | - 16 | - | - | ||
| Postal and courier services(e)(f) | - 18 | - 19 | - 19 | - | - | ||
| Travel(d) | - 65 | - 69 | - 78 | 9 | 13 | ||
| Other services | - 2,842 | - 2,766 | - 2,774 | 8 | - | ||
| Memorandum item | |||||||
| Tourism related services debits(g) | - 146 | - 136 | - 140 | 4 | 3 | ||
- nil or rounded to zero (including null cells)
(a) For sign conventions, see the Explanatory Notes.
(b) This component is not seasonally adjusted.
(c) Passenger services includes agency fees and commissions for air transport.
(d) This component has been seasonally adjusted using the forward factor method since March 2020 due to the impacts of COVID-19.
(e) Postal and courier services includes indirect commissions for sea transport.
(f) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(g) For a more detailed explanation of tourism related services, see the Explanatory notes.
Supplementary information
Selected commodities
| Mar-21 (%) | Apr-21 (%) | May-21 (%) | Jun-21 (%) | Jul-21 (%) | Aug-21 (%) | |
|---|---|---|---|---|---|---|
| Iron ore - Lump | 20 | - 8 | 12 | - 2 | - 10 | 8 |
| Iron ore - Fines | 15 | - 5 | 7 | 3 | - 8 | 5 |
| Coal - Hard coking | 21 | - 1 | 3 | 2 | - 17 | 14 |
| Coal - Semi-soft | - 18 | 11 | - 2 | 14 | - 11 | 6 |
| Coal - Thermal | - 15 | 13 | 11 | - 1 | 15 | - 3 |
| Gas - LNG | 15 | -3 | -14 | -3 | 23 | 2 |
- nil or rounded to zero (including null cells)
(a) Data in this table is on a revised international merchandise trade basis and excludes value adjustments applied to balance of payments series.
| Mar-21 (%) | Apr-21 (%) | May-21 (%) | Jun-21 (%) | Jul-21 (%) | Aug-21 (%) | |
|---|---|---|---|---|---|---|
| Iron ore - Lump | 4 | 9 | 8 | 6 | 8 | - 15 |
| Iron ore - Fines | 2 | 5 | 10 | 6 | 2 | - 15 |
| Coal - Hard coking | 11 | - 10 | - 3 | 10 | 35 | 2 |
| Coal - Semi-soft | 2 | 8 | - | 4 | 16 | 2 |
| Coal - Thermal | 5 | 3 | - 1 | 16 | 13 | 12 |
| Gas - LNG | -4 | 6 | 4 | 18 | 14 | 8 |
- nil or rounded to zero (including null cells)
p preliminary figure or series subject to revision
(a) Data in this table is on a revised international merchandise trade basis and excludes value adjustments applied to balance of payments series.
Selected commodity movements
On an international merchandise trade basis, in original terms (noting the footnote in the above table), between July 2021 and August 2021 the largest movements recorded for the following selected commodities were:
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| Iron ore (lump) - Total movement | - 350 | - 8 | 8 | - 15 |
| China (excludes SARs and Taiwan) | - 427 | - 12 | 6 | - 16 |
| Japan | - 58 | - 9 | 2 | - 11 |
| Korea, Republic of (South) | 39 | 19 | 11 | 8 |
| Vietnam | 43 | - | - | - |
| Indonesia | 47 | - | - | - |
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| Iron ore (fines) - Total movement | -1 371 | - 11 | 5 | - 15 |
| China (excludes SARs and Taiwan) | -1 255 | - 12 | 6 | - 17 |
| Vietnam | - 74 | - 45 | - 49 | 8 |
| Taiwan | - 48 | - 31 | - 27 | - 5 |
| Japan | 5 | 1 | 3 | - 2 |
| Indonesia | 7 | 17 | 31 | - 11 |
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| High rank coal - Total movement | 292 | 17 | 14 | 2 |
| Japan | 247 | 139 | 116 | 11 |
| Brazil | 71 | 129 | 147 | - 7 |
| Sweden | 42 | - | - | - |
| Slovenia | - 40 | - 100 | - 100 | - |
| India | - 71 | - 10 | - 11 | 1 |
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| Semi soft coal - Total movement | 62 | 9 | 6 | 2 |
| Japan | 98 | 45 | 45 | - |
| Malaysia | 12 | - | - | - |
| India | - 3 | - 2 | - 13 | 13 |
| France (includes Andorra and Monaco) | - 13 | - 100 | - 100 | - |
| Netherlands | - 25 | - 100 | - 100 | - |
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| Thermal coal - Total movement | 224 | 9 | - 3 | 12 |
| Japan | 295 | 29 | 18 | 9 |
| Malaysia | 83 | 220 | 166 | 20 |
| India | - 38 | - 43 | - 48 | 9 |
| Korea, Republic of (South) | - 56 | - 11 | - 15 | 4 |
| Taiwan | - 68 | - 14 | - 17 | 3 |
| Value ($m) | Value (%) | Quantity (%) | Unit Value (%) | |
|---|---|---|---|---|
| Liquid Natural Gas (LNG) - Total movement | 427 | 10 | 2 | 8 |
- nil or rounded to zero (including null cells)
Selected commodities, quantity and unit value analysis - International merchandise trade basis: Original terms
International merchandise trade exports data presented in the above tables are based on information reported by exporters to the Department of Home Affairs (Home Affairs). For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to Home Affairs. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to Home Affairs. When additional information for these commodities is available, the ABS may adjust the data to reflect actual transaction values.
Unit values in this publication are presented in Australian dollar terms. Movements in the unit values for some commodities incorporate movements in the United States dollar prices reported to Home Affairs and movements in the Australian dollar to United States dollar exchange rate.
Value adjustments
Goods credits on an international merchandise trade basis
On a merchandise trade basis, adjustments have been applied to iron ore lump and iron ore fines. When actual final transaction prices become available estimates are replaced with these data. For price and volume details, see the Selected commodities section.
| Feb-21($m) | Mar-21($m) | Apr-21($m) | May-21($m) | Jun-21($m) | Jul-21($m) | Aug-21($m) | |
|---|---|---|---|---|---|---|---|
| Iron ore lump | 0 | 20 | 25 | 35 | 40 | -55 | 0 |
| Iron ore fines | 0 | 0 | -20 | 75 | 45 | 40 | 0 |
Goods credits on a balance of payments basis
Coal (in original terms)
On a balance of payments basis, adjustments have been applied to the coal, coke and briquettes component in June (-$5m), July (+$15m) and August (+$65m) 2021. This adjustment takes into account additional information on the unit value of hard coking, semi-soft and thermal coal exports. All previous adjustments have been removed.
In the international merchandise trade series, the unit value of coal, coke and briquettes rose 17.9% between June 2021 and July 2021 and rose 8.7% between July 2021 and August 2021.
In the balance of payments series, the unit value of coal, coke and briquettes rose 18.1% between June 2021 and July 2021 and rose 9.7% between July 2021 and August 2021.
International merchandise trade exports data presented in this publication are based on information reported by exporters to the Department of Home Affairs (Home Affairs). At the time of initial reporting to Home Affairs, the final prices at which transactions take place are not known for some commodities. Final quantity and/or unit price information is updated progressively in international merchandise trade data as exporters revise the information provided to Home Affairs.
For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to Home Affairs. When additional information on quantity and/or unit price for these commodities is available, the ABS may adjust the data to reflect actual transaction values.
Iron ore adjustments are applied on an international merchandise trade basis at the Australian Harmonized Export Commodity Classification (AHECC) level. Coal, coke and briquettes are adjusted on a balance of payments basis in current price, original terms. When actual final transaction prices become available estimates are replaced with these data.
In most instances, transfer of ownership occurs when goods cross the customs frontier. In certain circumstances the change of ownership of large value capital expenditure items can occur prior to the items crossing the customs frontier. The ABS may adjust the relevant balance of payments series to record the timing when transfer of ownership was affected.
Revisions
Revisions have been made to incorporate the latest data relating to International Trade in Goods and Services, Australia since the last issue of this publication.
On an international merchandise trade basis, exports and imports of goods have been revised back to March 2021.
On a balance of payments basis, revisions have been applied to:
- Goods exports back to January 2021
- Goods imports back to November 2014
- Services exports back to July 2001
- Services imports back to July 2005
Table 17 summarises revisions to goods and services on a balance of payments basis since the last issue of this publication. In original, current price terms, the revisions have:
- decreased the surplus on goods and services for 2017-18 by $463m
- decreased the surplus on goods and services for 2018-19 by $494m
- increased the surplus on goods and services for 2019-20 by $458m
- increased the surplus on goods and services for 2020-21 by $1,558m
- increased the surplus on goods and services for July 2021 by $121m.
Previous catalogue number
This release previously used catalogue number 5368.0.
Changes in this issue
This issue incorporates Historical Revisions, including changes to the way travel debits are compiled. Please see article "Australian System of National Accounts historical revisions" for more details.
From the August 2021 release of this publication, the Organisation for Economic Co-operation and Development (OECD) country grouping has been updated to reflect the current membership. This change will be reflected across the entire time-series back to January 1988.
In line with ongoing improvement processes, seasonal adjustment of the Metal ores and minerals, Coal, coke & briquettes and Other mineral fuels components of goods credits for the period July 2005 to June 2019 has reverted to adjustment using seasonal factors based on the current price series. Prior to the August 2021 publication, for the span indicated, these series were seasonally adjusted using seasonal factors derived from a monthly volume series.
Data downloads
Time series spreadsheets
Data files
Table 1. Goods and services, summary - seasonally adjusted and trend estimates, current prices
Table 2. Goods and services, summary - original, current prices
Table 3. Goods credits, original, current prices
Table 4. Goods debits, original, current prices
Table 5. Goods credits, seasonally adjusted, current prices
Table 6. Goods debits, seasonally adjusted, current prices
Table 7. Goods credits, trend estimates, current prices
Table 8. Goods debits, trend estimates, current prices
Table 9. Services, summary - original, current prices
Table 10. Services, summary - seasonally adjusted and trend estimates, current prices
Table 11a. Services credits, original, current prices - quarterly
Table 11b. Services debits, original, current prices - quarterly
Table 12a. Merchandise exports, standard international trade classification (1 and 2 digit), FOB value
Table 12b. Merchandise exports, standard international trade classification (3 digit), FOB value
Table 13a. Merchandise imports, standard international trade classification (1 and 2 digit), customs value
Table 13b. Merchandise imports, standard international trade classification (3 digit), customs value
Table 14a. Merchandise exports, country and country groups, FOB value
Table 14b. Merchandise imports, country and country groups, customs value
Table 15a. Merchandise exports, state and Australia, FOB value
Table 15b. Merchandise imports, state and Australia, customs value
Table 16. Period average exchange rates, units of foreign currency per Australian dollar
Table 17. Summary of revisions, goods and services
Table 31. Merchandise exports, broad economic category, FOB value
Table 32a. Merchandise exports, industry (ANZSIC 2006), FOB value
Table 32b. Merchandise exports, industry (ANZSIC 1993), FOB value
Table 33. Merchandise imports, broad economic category, customs value
Table 34. Merchandise imports, balance of payments broad economic category, customs value
Table 35a. Merchandise imports, industry (ANZSIC 2006), customs value
Table 35b. Merchandise imports, industry (ANZSIC 1993), customs value
Table 36a. Merchandise exports, state of origin New South Wales, by country and country groups, FOB value
Table 36b. Merchandise exports, state of origin Victoria, by country and country groups, FOB value
Table 36c. Merchandise exports, state of origin Queensland, by country and country groups, FOB value
Table 36d. Merchandise exports, state of origin South Australia, by country and country groups, FOB value
Table 36e. Merchandise exports, state of origin Western Australia, by country and country groups, FOB value
Table 36f. Merchandise exports, state of origin Tasmania, by country and country groups, FOB value
Table 36g. Merchandise exports, state of origin Northern Territory, by country and country groups, FOB value
Table 36h. Merchandise exports, state of origin Australian Capital Territory, by country and country groups, FOB value
Table 36i. Merchandise exports, state of origin not available, by country and country groups, FOB value
Table 36j. Merchandise exports, re-exports, by country and country groups, FOB value
Table 37a. Merchandise imports, state of destination New South Wales, by country and country groups, customs value
Table 37b. Merchandise imports, state of destination Victoria, by country and country groups, customs value
Table 37c. Merchandise imports, state of destination Queensland, by country and country groups, customs value
Table 37d. Merchandise imports, state of destination South Australia, by country and country groups, customs value
Table 37e. Merchandise imports, state of destination Western Australia, by country and country groups, customs value
Table 37f. Merchandise imports, state of destination Tasmania, by country and country groups, customs value
Table 37g. Merchandise imports, state of destination Northern Territory, by country and country groups, customs value
Table 37h. Merchandise imports, state of destination Australian Capital Territory, by country and country groups, customs value
Table 37i. Merchandise imports, state of destination not available, by country and country groups, customs value
Table 91. Monthly combined seasonal adjustment factors
Data Cubes
Data files
Table 18. Balance of payments broad economic categories (detailed level), by country, latest 7 months, customs value, ($million)
Table 19. Balance of payments broad economic categories (1 and 2 digit), by country, latest 7 months, customs value, ($million)