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DECEMBER KEY FIGURES

		Oct 2016	Nov 2016	Dec 2016	Nov 16 to Dec 16
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	322	1 277	2 193	72
	Seasonally adjusted	-733	2 040	3 511	72
CREDITS (Exports of goods & services)
	Trend estimates	29 079	30 120	31 114	3
	Seasonally adjusted	28 137	30 951	32 630	5
DEBITS (Imports of goods & services)
	Trend estimates	28 757	28 843	28 921	-
	Seasonally adjusted	28 870	28 911	29 120	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 surplus of $2,193m in December 2016, an increase of $916m (72%) on the surplus in November 2016.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $3,511m in December 2016, an increase of $1,471m (72%) on the surplus in November 2016.

• In seasonally adjusted terms, goods and services credits rose $1,679m (5%) to $32,630m. Non-rural goods rose $1,249m (6%), non-monetary gold rose $319m (23%), rural goods rose $104m (3%) and net exports of goods under merchanting rose $1m (20%). Services credits rose $6m.

• In seasonally adjusted terms, goods and services debits rose $209m (1%) to $29,120m. Consumption goods rose $157m (2%), intermediate and other merchandise goods rose $132m (2%) and non-monetary gold rose $4m (1%). Capital goods fell $125m (2%). Services debits rose $42m (1%).

• In original terms, the balance on goods and services for 2016 was a deficit of $13.6b, a decrease of $23.4b (63%) on the deficit of $37.0b recorded in 2015, resulting from a $13.3b (4%) increase in goods and services credits and a $10.1b (3%) decrease in goods and services debits.