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MARCH KEY FIGURES

		January 2008	February 2008	March 2008	Feb 08 to Mar 08
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-2 518	-2 662	-2 790	-5
	Seasonally adjusted	-2 427	-3 261	-2 736	16
CREDITS (Exports of goods & services)
	Trend estimates	18 704	18 870	19 042	1
	Seasonally adjusted	19 117	18 360	19 176	4
DEBITS (Imports of goods & services)
	Trend estimates	21 223	21 533	21 832	1
	Seasonally adjusted	21 544	21 621	21 912	1

Balance on Goods and Services

• The trend estimate of the balance on goods and services was a deficit of $2,790m in March 2008, an increase of $128m (5%) on the revised deficit in February 2008.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $2,736m in March 2008, a decrease of $525m (16%) on the revised deficit in February 2008.
• The decrease in the seasonally adjusted deficit was due to the rise in goods and services credits, mainly non-rural and other goods, outweighing the rise in goods and services debits, mainly capital goods and consumption goods.

• Seasonally adjusted, goods and services credits rose $816m (4%) to $19,176m. Non-rural and other goods rose $657m (5%) and rural goods rose $122m (6%). Services credits rose $36m (1%).
• The rise in non-rural and other goods was driven by metal ores and minerals, which rose $471m (16%) and coal, coke and briquettes, which rose $341m (23%).

• Seasonally adjusted, goods and services debits rose $291m (1%) to $21,912m. Capital goods rose $156m (4%), consumption goods rose $126m (2%) while intermediate and other goods fell $37m. Services debits rose $46m (1%).
• The rise in capital goods was driven by machinery and industrial equipment, which rose $232m (17%), and the rise in consumption goods was driven by non-industrial transport equipment, mainly passenger motor vehicles, which rose $137m (9%).

• decreased the deficit on goods and services for February 2008 by $52m
• decreased the deficit on goods and services for the eight months to February by $113m.