5368.0 - International Trade in Goods and Services, Australia, Jul 2013 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 05/09/2013   
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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 $129m in July 2013, an increase of $81m (169%) on the deficit in June 2013.

In seasonally adjusted terms, the balance on goods and services was a deficit of $765m in July 2013, a turnaround of $1,008m on the surplus in June 2013.


EXPORTS OF GOODS AND SERVICES

Between June and July 2013, the trend estimate of goods and services credits rose $134m (1%) to $26,303m.

In seasonally adjusted terms, goods and services credits rose $54m to $26,202m. Non–rural goods rose $113m (1%), rural goods rose $86m (3%) and net exports of goods under merchanting rose $1m (8%). Non–monetary gold fell $219m (19%). Services credits rose $72m (2%).


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 $45m (1%) to $3,286m.

In seasonally adjusted terms, exports of rural goods rose $86m (3%) to $3,308m. The main component contributing to the rise in seasonally adjusted estimates was meat and meat preparations, up $61m (9%).

NON–RURAL GOODS

In trend terms, exports of non–rural goods rose $130m (1%) to $17,434m.

In seasonally adjusted terms, exports of non–rural goods rose $113m (1%) to $17,452m. The main components contributing to the rise in seasonally adjusted estimates were:
  • other mineral fuels, up $101m (5%)
  • coal, coke and briquettes, up $96m (3%)
  • metal ores and minerals, up $64m (1%).

Partly offsetting these rises were:
  • other non–rural (incl. sugar and beverages), down $88m (9%)
  • other manufactures, down $83m (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 $1m (8%) to $12m.

In seasonally adjusted terms, net exports of goods under merchanting rose $1m (8%) to $14m.

NON–MONETARY GOLD

In trend terms, exports of non–monetary gold fell $61m (5%) to $1,123m.

In original and seasonally adjusted terms, exports of non–monetary gold fell $219m (19%) to $941m.


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


In trend terms, services credits rose $22m to $4,449m.

In seasonally adjusted terms, services credits rose $72m (2%) to $4,487m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • travel, up $40m (2%)
  • other services, up $33m (2%).

In seasonally adjusted terms, tourism related services credits rose $46m (2%) to $2,818m.


IMPORTS OF GOODS AND SERVICES

Between June and July 2013, the trend estimate of goods and services debits rose $216m (1%) to $26,432m.

In seasonally adjusted terms, goods and services debits rose $1,062m (4%) to $26,967m. Intermediate and other merchandise goods rose $773m (9%), consumption goods rose $118m (2%), non–monetary gold rose $41m (11%) and capital goods rose $12m. Services debits rose $119m (2%).


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 $42m (1%) to $5,949m.

In seasonally adjusted terms, imports of consumption goods rose $118m (2%) to $6,092m.

The main component contributing to the rise in the seasonally adjusted estimates was non–industrial transport equipment, up $86m (5%).

CAPITAL GOODS

In trend terms, imports of capital goods rose $88m (2%) to $5,595m.

In seasonally adjusted terms, imports of capital goods rose $12m to $5,606m.

The main component contributing to the rise in the seasonally adjusted estimates was machinery and industrial equipment, up $125m (8%).

Partly offsetting this rise was the capital goods n.e.s. component, down $90m (6%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

In trend terms, imports of intermediate and other merchandise goods rose $58m (1%) to $9,053m.

In seasonally adjusted terms, imports of intermediate and other merchandise goods rose $773m (9%) to $9,361m.

The main components contributing to the rise in the seasonally adjusted estimates were:
  • fuels and lubricants, up $506m (17%)
  • other merchandise goods, up $124m (477%)
  • other parts for capital goods, up $76m (7%).

NON–MONETARY GOLD

In trend terms, imports of non–monetary gold rose $2m (1%) to $401m.

In original and seasonally adjusted terms, imports of non–monetary gold rose $41m (11%) 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 $26m to $5,435m.

In seasonally adjusted terms, services debits rose $119m (2%) to $5,508m.

The main components contributing to the rise in seasonally adjusted estimates were:
  • transport, up $55m (4%), with freight transport up $44m (6%)
  • travel, up $53m (2%).

In seasonally adjusted terms, tourism related services debits rose $69m (2%) to $2,888m.


Selected commodities

Selected commodities, Quantity and unit value analysis: International merchandise trade basis (a) – Original terms
Change in
Feb 2013
Mar 2013
Apr 2013
May 2013
Jun 2013
Jul 2013
%
%
%
%
%
%
Iron ore
Lump
Quantity
–12
28
8
–11
–1
4
Unit value
5
–2
4
2
–2
3
Fines
Quantity
–4
23
–1
8
–7
2
Unit value
8
–2
–1
–
–5
3
Coal
Hard coking
Quantity
–4
–3
11
4
12
–17
Unit value
3
–1
–
1
1
–2
Semi–soft
Quantity
–5
31
–18
37
–27
5
Unit value
2
1
–
4
2
–1
Thermal
Quantity
–14
–6
19
–6
25
2
Unit value
1
–1
–3
5
1
2
– 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 June and July 2013 the largest movements recorded for the following selected commodities were:

Iron ore lump rose $88m (6%), with quantities up 4% and unit values up 3%.
Exports to:
  • China rose $63m (7%), with quantities up 3% and unit values up 5%
  • Japan rose $22m (7%), with quantities up 11% and unit values down 4%.

Iron ore fines rose $180m (5%), with quantities up 2% and unit values up 3%.
Exports to:
  • Japan rose $129m (31%), with quantities up 34% and unit values down 2%
  • the Republic of Korea rose $40m (15%), with quantities up 11% and unit values up 4%.

Hard coking coal fell $272m (18%), with quantities down 17% and unit values down 2%.
Exports to:
  • India fell $107m (30%), with quantities down 29% and unit values down 1%
  • Japan fell $105m (33%), with quantities down 30% and unit values down 4%
  • the Republic of Korea fell $73m (48%), with quantities down 44% and unit values down 7%.

Semi–soft coal rose $25m (4%), with quantities up 5% and unit values down 1%.
Exports to Taiwan rose $21m (67%), with quantities up 82% and unit values down 8%.

Thermal coal rose $52m (3%), with quantities up 2% and unit values up 2%.
Exports to:
  • the Republic of Korea rose $69m (30%), with quantities up 24% and unit values up 5%
  • Japan fell $35m (5%), with quantities down 6% and unit values up 1%.