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DECEMBER KEY FIGURES

		Oct 2017	Nov 2017	Dec 2017	Nov 17 to Dec 17
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	178	-163	-476	-192
	Seasonally adjusted	193	36	-1 358	(a)..
CREDITS (Exports of goods & services)
	Trend estimates	32 069	32 092	32 157	-
	Seasonally adjusted	31 787	31 955	32 465	2
DEBITS (Imports of goods & services)
	Trend estimates	31 891	32 255	32 634	1
	Seasonally adjusted	31 595	31 918	33 823	6
. . not applicable
- nil or rounded to zero (including null cells)
(a) See paragraph 15 of the Explanatory Notes.

Balance on Goods and Services

• In trend terms, the balance on goods and services was a deficit of $476m in December 2017, an increase of $313m on the deficit in November 2017.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $1,358m in December 2017, a turnaround of $1,394m on the surplus in November 2017.

• In seasonally adjusted terms, goods and services credits rose $510m (2%) to $32,465m. Non-rural goods rose $719m (4%). Rural goods fell $144m (4%), non-monetary gold fell $9m (1%) and net exports of goods under merchanting fell $1m (2%). Services credits fell $54m (1%).

• In seasonally adjusted terms, goods and services debits rose $1,905m (6%) to $33,823m. Intermediate and other merchandise goods rose $901m (9%), consumption goods rose $422m (5%), capital goods rose $341m (6%) and non-monetary gold rose $204m (68%). Services debits rose $36m.

• In original terms, the balance on goods and services for 2017 was a surplus of $11.1b, a turnaround of $24.7b on the deficit of $13.7b recorded in 2016, resulting from a $50.7b (15%) increase in goods and services credits and a $26.0b (7%) increase in goods and services debits.