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DECEMBER KEY FIGURES

		Oct 2015	Nov 2015	Dec 2015	Nov 15 to Dec 15
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-2 965	-3 145	-3 313	-5
	Seasonally adjusted	-3 253	-2 727	-3 535	-30
CREDITS (Exports of goods & services)
	Trend estimates	26 502	26 252	25 934	-1
	Seasonally adjusted	26 534	26 490	25 247	-5
DEBITS (Imports of goods & services)
	Trend estimates	29 467	29 398	29 247	-1
	Seasonally adjusted	29 787	29 216	28 782	-1

Balance on Goods and Services

• In trend terms, the balance on goods and services was a deficit of $3,313m in December 2015, an increase of $168m (5%) on the deficit in November 2015.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $3,535m in December 2015, an increase of $808m (30%) on the deficit in November 2015.

• In seasonally adjusted terms, goods and services credits fell $1,243m (5%) to $25,247m. Non-rural goods fell $1,078m (7%) and rural goods fell $392m (9%). Non-monetary gold rose $121m (10%). Net exports of goods under merchanting remained steady at $14m. Services credits rose $108m (2%).

• In seasonally adjusted terms, goods and services debits fell $434m (1%) to $28,782m. Intermediate and other merchandise goods fell $399m (4%), capital goods fell $176m (3%) and consumption goods fell $57m (1%). Non-monetary gold rose $108m (39%). Services debits rose $89m (1%).

• In original terms, the balance on goods and services for 2015 was deficit of $33.5b, a rise of $23.6b (239%) on the deficit of $9.9b recorded in 2014, resulting from a $13.8b (4%) increase in goods and services debits and a $9.8b (3%) decrease in goods and services credits.