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DECEMBER KEY FIGURES

		Oct 2014	Nov 2014	Dec 2014	Nov 14 to Dec 14
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-1 114	-959	-830	13
	Seasonally adjusted	-1 140	-1 016	-436	57
CREDITS (Exports of goods and services)
	Trend estimates	26 777	26 927	27 049	-
	Seasonally adjusted	26 824	26 869	27 243	1
DEBITS (Imports of goods and services)
	Trend estimates	27 890	27 886	27 879	-
	Seasonally adjusted	27 964	27 886	27 680	-1
- nil or rounded to zero (including null cells)

Balance on Goods and Services

• In trend terms, the balance on goods and services was a deficit of $830m in December 2014, a decrease of $129m (13%) on the deficit in November 2014.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $436m in December 2014, a decrease of $580m (57%) on the deficit in November 2014.

• In seasonally adjusted terms, goods and services credits rose $374m (1%) to $27,243m. Non-monetary gold rose $428m (52%) and rural goods rose $331m (10%). Non-rural goods fell $417m (2%). Net exports of goods under merchanting remained steady at $43m. Service credits rose $31m (1%).

• In seasonally adjusted terms, goods and services debits fell $206m (1%) to $27,680m. Intermediate and other merchandise goods fell $296m (3%) and capital goods fell $5m. Non-monetary gold rose $53m (22%) and consumption goods rose $17m. Service debits rose $25m.

• In original terms, the balance on goods and services for 2014 was deficit of $9.9b, a fall of $0.4b (4%) on the deficit of $10.3b recorded in 2013, resulting from a $7.8b (2%) increase in goods and services credits partly offset by a $7.3b (2%) increase in goods and services debits.

• on an international merchandise trade basis, exports and imports have been revised back to June 2014
• on a balance of payments basis, revisions have been applied to:
  • goods credits back to June 2014
  • goods debits back to July 2013
  • services credits back to November 2014
  • services debits back to October 2013.

• impacts on services series due to delays of overseas arrivals and departures data.

• changes applied to export data on a merchandise trade basis
• changes to the AHECC
• changes to Customs Tariff import classification.