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JANUARY KEY FIGURES

		Nov 2015	Dec 2015	Jan 2016	Dec 15 to Jan 16
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-3 113	-3 231	-3 364	-4
	Seasonally adjusted	-2 801	-3 524	-2 937	17
CREDITS (Exports of goods & services)
	Trend estimates	26 146	25 819	25 500	-1
	Seasonally adjusted	26 445	25 283	25 549	1
DEBITS (Imports of goods & services)
	Trend estimates	29 259	29 050	28 864	-1
	Seasonally adjusted	29 246	28 807	28 487	-1

Balance on Goods and Services

• In trend terms, the balance on goods and services was a deficit of $3,364m in January 2016, an increase of $133m (4%) on the deficit in December 2015.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $2,937m in January 2016, a decrease of $587m (17%) on the deficit in December 2015.

• In seasonally adjusted terms, goods and services credits rose $266m (1%) to $25,549m. Non-rural goods rose $184m (1%) and non-monetary gold rose $126m (10%). Rural goods fell $39m (1%) and net exports of goods under merchanting fell $2m (14%). Services credits fell $2m.

• In seasonally adjusted terms, goods and services debits fell $320m (1%) to $28,487m. Intermediate and other merchandise goods fell $92m (1%), capital goods fell $83m (2%), consumption goods fell $81m (1%) and non-monetary gold fell $37m (10%). Services debits fell $28m.