JUNE KEY FIGURES

		April 2009	May 2009	June 2009	May 09 to Jun 09
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	549	142	-288	. .
	Seasonally adjusted	-280	-737	-441	. .
CREDITS (Exports of goods & services)
	Trend estimates	21 874	21 086	20 446	-3
	Seasonally adjusted	21 425	20 087	20 397	2
DEBITS (Imports of goods & services)
	Trend estimates	21 326	20 945	20 734	-1
	Seasonally adjusted	21 705	20 825	20 838	-
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services

JUNE KEY POINTS


BALANCE ON GOODS AND SERVICES

• The trend estimate of the balance on goods and services was a deficit of $288m in June 2009, a turnaround of $430m on a revised surplus in May 2009.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $441m in June 2009, a decrease of $296m (40%) on a revised deficit in May 2009.

CREDITS (EXPORTS OF GOODS & SERVICES)

• Seasonally adjusted, goods and services credits rose $310m (2%) to $20,397m. Other goods rose $156m (13%) with the non-monetary gold component up $164m (17%). Non-rural goods rose $135m (1%), rural goods rose $22m (1%) while services credits fell $3m.

DEBITS (IMPORTS OF GOODS & SERVICES)

• Seasonally adjusted, goods and services debits rose $13m to $20,838m. Intermediate and other merchandise goods rose $247m (4%) with the fuels and lubricants component up $234m (13%). Consumption goods rose $207m (4%), capital goods rose $35m (1%) and services debits rose $27m (1%).
• These rises were partly offset by a fall in other goods, down $502m (48%), mainly due to a fall in the non-monetary gold component, down $336m (45%).

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
July 2009	3 September 2009
August 2009	6 October 2009
September 2009	5 November 2009
October 2009	9 December 2009
November 2009	7 January 2010
December 2009	3 February 2010

REVISIONS

Revisions have been made to incorporate the latest available data relating to merchandise trade and international trade in services. In original terms, these revisions have:

• decreased the surplus on goods and services for May 2009 by $140m
• decreased the surplus on goods and services for the 11 months to May 2009 by $182m
• decreased the deficit on goods and services for 2007-08 by $2m.

INFORMATION PAPERS

The Information Paper: Revisions to international standards in quarterly Balance of Payments and International Investment Position statistics from September 2009 (cat. no. 5302.0.55.002) was released on 22 July 2009 and describes the changes to the international standards and the impact on statistics presented in the quarterly Balance of Payments and International Investment Position, Australia (cat. no. 5302.0). The paper further advises timing of the proposed changes and provides access to mock-ups of the proposed publications and the related spreadsheets that will be available from the ABS web site. The related time series spreadsheets will be re-released on 27 October 2009 with new time series identifiers (IDs).

The Information Paper: Implementation of revised international statistical standards in ABS National and International Accounts (cat no. 5310.0.55.002) is expected to be released at the end of September 2009 and will describe the impact of the international standards on Australia's macro economic accounts including key aggregates for the balance of payments and international investment position. Technical information included in this paper will describe the most significant changes in more detail.


TREND ESTIMATES

Caution should be used when interpreting recent trend estimates as they may be affected by unusual economic factors. For more details on trend estimates, please see paragraph 10 of the explanatory notes.


IRON ORE AND COAL PRICES

See Commodity prices adjustment, for details of adjustments made to the value of iron ore exports for June 2009 in the Balance of Payments series.


CHANGES IN FORTHCOMING ISSUE

See Changes in July issue and Changes in time series spreadsheets for details.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for goods, and Karen McGuigan on Canberra (02) 6252 5415 for services.