5368.0 - International Trade in Goods and Services, Australia, Jan 2012

Quality Declaration

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 09/03/2012

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JANUARY KEY FIGURES

		Nov 2011	Dec 2011	Jan 2012	Dec 11 to Jan 12
		$m	$m	$m	% change

BALANCE ON GOODS AND SERVICES
	Trend estimates	1 115	744	373	. .
	Seasonally adjusted	1 145	1 325	-673	. .
CREDITS (Exports of goods & services)
	Trend estimates	27 080	26 870	26 612	-1
	Seasonally adjusted	27 122	27 651	25 372	-8
DEBITS (Imports of goods & services)
	Trend estimates	25 965	26 126	26 239	-
	Seasonally adjusted	25 976	26 326	26 045	-1

. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services
Graph: This graph show the Balance on Goods and Services for the Trend and Seasonally adjusted series

JANUARY KEY POINTS

BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a surplus of $373m in January 2012, a fall of $371m on the surplus in December 2011.
In seasonally adjusted terms, the balance on goods and services was a deficit of $673m in January 2012, a turnaround of $1,998m on the surplus in December 2011.

CREDITS (EXPORTS OF GOODS & SERVICES)

In seasonally adjusted terms, goods and services credits fell $2,279m (8%) to $25,372m. Non-rural goods fell $1,193m (6%), non-monetary gold fell $1,070m (56%) and rural goods fell $137m (5%). Net exports of goods under merchanting rose $3m (50%). Services credits rose $118m (3%).

DEBITS (IMPORTS OF GOODS & SERVICES)

In seasonally adjusted terms, goods and services debits fell $281m (1%) to $26,045m. Intermediate and other merchandise goods fell $477m (5%) and capital goods fell $75m (1%). Consumption goods rose $164m (3%) and non-monetary gold rose $28m (6%). Services debits rose $79m (2%).

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
February 2012	4 April 2012
March 2012	8 May 2012
April 2012	8 June 2012
May 2012	5 July 2012
June 2012	2 August 2012
July 2012	7 September 2012

REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and information on capital goods that have changed ownership but not crossed the Customs frontier:

on a recorded trade basis, international merchandise exports and imports have been revised back to July 2011
on a balance of payments basis, the goods debits, 'capital goods n.e.s.' component has been revised back to July 2011. No other components in the balance of payments series have been revised. The revised goods debits data aligns with the data published in the December quarter 2011 issues of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) and Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0).

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have:

decreased the surplus on goods and services for the six months to December 2011 by $1,060m.

Seasonally adjusted and trend series have been revised due to the incorporation of these revisions and estimates for the latest month.

VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals', 'coal, coke and briquettes' and 'capital goods n.e.s.' components in the balance of payments series.

See the Commodity value adjustment section for details.

CHANGES IN THIS ISSUE

Changes to the export and import statistical codes.

See the Changes in this issue section for details.

RELATED RELEASES

For related releases, see the Related releases section for details.

INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.