5368.0 - International Trade in Goods and Services, Australia, Aug 2012 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/10/2012   
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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 $1,625m in August 2012, a rise of $288m (22%) on the deficit in July 2012.

In seasonally adjusted terms, the balance on goods and services was a deficit of $2,027m in August 2012, a rise of $497m (32%) on the deficit in July 2012.


EXPORTS OF GOODS AND SERVICES

Between July and August 2012, the trend estimate of goods and services credits fell $169m (1%) to $25,422m.

In seasonally adjusted terms, goods and services credits fell $844m (3%) to $24,589m. Non-rural goods fell $933m (6%) and non-monetary gold fell $2m. Rural goods rose $37m (1%). Net exports of goods under merchanting remained steady at $16m. Services credits rose $53m (1%).


Exports of goods

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


RURAL GOODS

In trend terms, exports of rural goods rose $36m (1%) to $3,019m.

In seasonally adjusted terms, exports of rural goods rose $37m (1%) to $2,972m.

The main component contributing to the rise in seasonally adjusted estimates was cereal grains and cereal preparations, up $96m (12%).

Partly offsetting this rise was other rural component, down $52m (4%).


NON-RURAL GOODS

In trend terms, exports of non-rural goods fell $196m (1%) to $16,691m.

In seasonally adjusted terms, exports of non-rural goods fell $933m (6%) to $15,998m.

The main components contributing to the fall in seasonally adjusted estimates were:
  • metal ores and minerals, down $464m (7%). In original terms, metal ores and minerals, fell $549m (8%), largely due to falls in iron and copper ores and concentrates
  • coal, coke and briquettes, down $372m (11%).

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 remained steady at $12m.

In seasonally adjusted terms, net exports of goods under merchanting remained steady at $16m.


NON-MONETARY GOLD

In trend terms, exports of non-monetary gold fell $30m (2%) to $1,410m.

In original and seasonally adjusted terms, exports of non-monetary gold fell $2m to $1,281m.


Exports of services
SERVICES CREDITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Credits


In trend terms, services credits rose $21m to $4,290m.

In seasonally adjusted terms, services credits rose $53m (1%) to $4,321m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • travel, up $34m (1%)
  • transport, up $20m (4%), with passenger transport up $21m (10%).

In seasonally adjusted terms, tourism related services credits rose $55m (2%) to $2,864m.


IMPORTS OF GOODS AND SERVICES

Between July and August 2012, the trend estimate of goods and services debits rose $119m to $27,047m.

In seasonally adjusted terms, goods and services debits fell $348m (1%) to $26,615m. Intermediate and other merchandise goods fell $383m (4%) and non-monetary gold fell $130m (24%). Consumption goods rose $107m (2%) and capital goods rose $10m. Services debits rose $50m (1%).


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


CONSUMPTION GOODS

In trend terms, imports of consumption goods rose $32m (1%) to $5,750m.

In seasonally adjusted terms, imports of consumption goods rose $107m (2%) to $5,773m.

The main component contributing to the rise in seasonally adjusted estimates was non-industrial transport equipment, up $156m (10%).

Partly offsetting this rise was the textiles, clothing and footwear component, down $26m (3%).


CAPITAL GOODS

In trend terms, imports of capital goods fell $7m to $6,184m.

In seasonally adjusted terms, imports of capital goods rose $10m to $5,971m.

The main component contributing to the rise in seasonally adjusted estimates was industrial transport equipment n.e.s., up $196m (25%).

Partly offsetting this rise was the capital goods n.e.s. component, down $173m (12%).


INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $34m to $9,319m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $383m (4%) to $9,099m.

The main component contributing to the fall in seasonally adjusted estimates was fuels and lubricants, down $451m (13%). This follows a rise of $522m (18%) between June and July 2012.

Partly offsetting this fall was the processed industrial supplies n.e.s. component, up $97m (5%).


NON-MONETARY GOLD

In trend terms, imports of non-monetary gold fell $4m (1%) to $476m.

In original and seasonally adjusted terms, imports of non-monetary gold fell $130m (24%) to $401m.


Imports of services
SERVICES DEBITS
Graph: This graph shows the Trend and Seasonally adjusted estimate for Services Debits


In trend terms, services debits rose $64m (1%) to $5,318m.

In seasonally adjusted terms, services debits rose $50m (1%) to $5,372m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • transport, up $31m (2%), with freight transport up $16m (2%) and passenger transport up $14m (2%)
  • other services, up $21m (1%).

In seasonally adjusted terms, tourism related services debits rose $13m to $2,849m.


Selected commodities

Selected commodities, Quantity and unit value analysis: International merchandise trade basis (a) - Original terms
Change in
Mar 2012
Apr 2012
May 2012
Jun 2012
Jul 2012
Aug 2012
%
%
%
%
%
%
Iron ore
Lump
Quantity
-1
23
-17
-2
5
6
Unit value
1
2
4
-4
-6
-2
Fines
Quantity
-8
11
8
-3
1
7
Unit value
4
3
2
-3
-6
-6
Coal
Hard coking
Quantity
-3
7
8
8
-22
14
Unit value
-2
-
-
-2
-2
-3
Semi-soft
Quantity
10
7
-4
-5
5
-13
Unit value
5
-
-1
-5
-3
-1
Thermal
Quantity
4
16
-7
8
13
-14
Unit value
-
-3
2
-3
-5
-3
- nil or rounded to zero (including null cells)
(a) Data in this table are on a revised international merchandise trade basis and exclude value adjustments applied to balance of payments series.


On an international merchandise trade basis, in original terms (noting the footnote in the above table), between July and August 2012 the largest movements recorded for the following selected commodities were:

Iron ore lump rose $48m (4%) with quantities up 6% and unit values down 2%.
Exports to Japan rose $54m (19%), quantities up 13% and unit values up 5%.

Iron ore fines rose $41m (1%) with quantities up 7% and unit values down 6%.
Exports to Republic of Korea rose $57m (17%), with quantities up 21% and unit values down 3%.

Hard coking coal rose $135m (11%) with quantities up 14% and unit values down 3%.
Exports to:
  • Republic of Korea rose $62m (81%), driven by quantities
  • China rose $54m, driven by quantities
  • Japan rose $53m (15%), with quantities up 17% and unit values down 2%
  • India fell $136m (31%), with quantities down 26% and unit values down 6%.

Semi-soft coal fell $90m (14%) with quantities down 13% and unit values down 1%.
Exports to China fell $57m (47%), with quantities down 45% and unit values down 4%.

Thermal coal fell $248m (16%) with quantities down 14% and unit values down 3%.
Exports to:
  • Japan fell $101m (14%), with quantities down 11% and unit values down 3%
  • China fell $77m (31%), with quantities down 27% and unit values down 5%
  • Taiwan fell $55m (32%), with quantities down 31% and unit values down 1%.