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JANUARY KEY FIGURES

		Nov 2016	Dec 2016	Jan 2017	Dec 16 to Jan 17
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	945	1 656	2 176	31
	Seasonally adjusted	1 658	3 334	1 302	-61
CREDITS (Exports of goods & services)
	Trend estimates	30 240	31 254	32 086	3
	Seasonally adjusted	31 014	32 741	31 796	-3
DEBITS (Imports of goods & services)
	Trend estimates	29 296	29 598	29 910	1
	Seasonally adjusted	29 356	29 406	30 494	4

Balance on Goods and Services

• In trend terms, the balance on goods and services was a surplus of $2,176m in January 2017, an increase of $520m (31%) on the surplus in December 2016.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $1,302m in January 2017, a decrease of $2,032m (61%) on the surplus in December 2016.

• In seasonally adjusted terms, goods and services credits fell $945m (3%) to $31,796m. Non-monetary gold fell $671m (39%) and non-rural goods fell $403m (2%). Rural goods rose $57m (1%) and net exports of goods under merchanting rose $1m (17%). Services credits rose $72m (1%).

• In seasonally adjusted terms, goods and services debits rose $1,088m (4%) to $30,494m. Consumption goods rose $543m (7%), intermediate and other merchandise goods rose $340m (4%), capital goods rose $180m (3%) and non-monetary gold rose $22m (5%). Services debits rose $3m.