5368.0 - International Trade in Goods and Services, Australia, Jul 2011

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 12/09/2011

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Main Features Analysis and comments Commodity value adjustment Changes in this and forthcoming issues Related releases Time series data About this Release	ANALYSIS AND COMMENTS BALANCE ON GOODS AND SERVICES The trend estimate of the balance on goods and services was a surplus of $1,846m in July 2011, a rise of $112m on the surplus in June 2011. In seasonally adjusted terms, the balance on goods and services was a surplus of $1,826m in July 2011, a rise of $9m on the surplus in June 2011. EXPORTS OF GOODS AND SERVICES Between June 2011 and July 2011 the trend estimate of goods and services credits rose $282m (1%) to $26,457m. In seasonally adjusted terms, goods and services credits fell $224m (1%) to $26,102m. Non-rural goods fell $724m (4%) and rural goods fell $41m (1%). Non-monetary gold rose $596m (82%) and net exports of goods under merchanting rose $5m (15%). Services credits fell $60m (1%). Exports of goods GOODS CREDITS *RURAL GOODS* In trend terms, exports of rural goods rose $47m (2%) to $2,881m. In seasonally adjusted terms, exports of rural goods fell $41m (1%) to $2,832m. The main components contributing to the fall in seasonally adjusted estimates were: cereal grains and cereal preparations, down $26m (4%) wool and sheepskins, down $9m (3%). *NON-RURAL GOODS* In trend terms, exports of non-rural goods rose $243m (1%) to $18,145m. In seasonally adjusted terms, exports of non-rural goods fell $724m (4%) to $17,718m. The main components contributing to the fall in seasonally adjusted estimates were: coal, coke and briquettes, down $535m (12%) other mineral fuels, down $401m (19%). Partly offsetting these falls was the metals (excl. non-monetary gold) component, up $170m (18%). For price and volume details, see Commodity value adjustment. *NET EXPORTS OF GOODS UNDER MERCHANTING* In trend terms, net exports of goods under merchanting rose $2m (6%) to $37m. In seasonally adjusted terms, net exports of goods under merchanting rose $5m (15%) to $38m. *NON-MONETARY GOLD* In trend terms, exports of non-monetary gold fell $20m (2%) to $1,164m. In seasonally adjusted terms, exports of non-monetary gold for July 2011 rose $596m (82%) to $1,322m, after falling $894m (55%) between May and June 2011. On a recorded trade basis, between June and July 2011, non-monetary gold rose $581m (84%). This was primarily due to an increase in exports to the United Kingdom, up $524m, on volumes. Exports of services SERVICES CREDITS In trend terms, services credits rose $10m to $4,229m. In seasonally adjusted terms, services credits fell $60m (1%) to $4,192m. The main component contributing to the fall in seasonally adjusted estimates was travel, down $75m (3%). In seasonally adjusted terms, tourism related services credits fell $77m (3%) to $2,771m. IMPORTS OF GOODS AND SERVICES Between June 2011 and July 2011 the trend estimate of goods and services debits rose $170m (1%) to $24,611m. In seasonally adjusted terms, goods and services debits fell $232m (1%) to $24,276m. Intermediate and other merchandise goods fell $513m (6%). Consumption goods rose $166m (3%), non-monetary gold rose $153m (39%) and capital goods rose $135m (3%). Services debits fell $174m (3%). Imports of goods GOODS DEBITS *CONSUMPTION GOODS* In trend terms, imports of consumption goods rose $16m to $5,372m. In seasonally adjusted terms, imports of consumption goods rose $166m (3%) to $5,363m. The main component contributing to the rise in seasonally adjusted estimates was non-industrial transport equipment, up $227m (18%). Partly offsetting this rise was the textiles, clothing and footwear component, down $67m (9%). *CAPITAL GOODS* In trend terms, imports of capital goods rose $20m to $4,572m. In seasonally adjusted terms, imports of capital goods rose $135m (3%) to $4,684m. The main components contributing to the rise in seasonally adjusted estimates were: machinery and industrial equipment, up $103m (7%) industrial transport equipment n.e.s., up $86m (15%). Partly offsetting these rises was the capital goods n.e.s. component, down $167m (17%). *INTERMEDIATE AND OTHER MERCHANDISE GOODS* In trend terms, imports of intermediate and other merchandise goods rose $90m (1%) to $9,168m. In seasonally adjusted terms, imports of intermediate and other merchandise goods fell $513m (6%) to $8,775m. The main component contributing to the fall in the seasonally adjusted estimates was fuels and lubricants, down $455m (13%) after increasing $333m (11%) between May and June 2011. *NON-MONETARY GOLD* In trend terms, imports of non-monetary gold rose $28m (6%) to $462m. In seasonally adjusted terms, non-monetary gold rose $153m (39%) to $543m. Imports of services SERVICES DEBITS In trend terms, services debits rose $16m to $5,037m. In seasonally adjusted terms, services debits fell $174m (3%) to $4,911m. The main components contributing to the fall in the seasonally adjusted estimates were: travel, down $73m (3%) transport, down $60m (5%), with passenger transport down $58m (10%). In seasonally adjusted terms, tourism related services debits fell $131m (5%) to $2,699m. Document Selection These documents will be presented in a new window.