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MAY KEY FIGURES

		March 2008	April 2008	May 2008	Apr 08 to May 08
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-2 007	-1 093	-935	14
	Seasonally adjusted	-2 386	12	-965	. .
CREDITS (Exports of goods & services)
	Trend estimates	19 856	21 042	21 428	2
	Seasonally adjusted	19 583	21 556	21 871	1
DEBITS (Imports of goods & services)
	Trend estimates	21 863	22 136	22 364	1
	Seasonally adjusted	21 968	21 544	22 836	6
. . not applicable

Balance on Goods and Services

• The trend estimate of the balance on goods and services was a deficit of $935m in May 2008, a decrease of $158m (14%) on the revised deficit in April 2008.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $965m in May 2008, a turnaround of $977m on April 2008.
• The seasonally adjusted deficit was primarily due to the strong rise in goods and services debits, mainly intermediate and other goods.

• Seasonally adjusted, goods and services credits rose $315m (1%) to $21,871m. Non-rural and other goods rose $232m (2%) and rural goods rose $51m (2%). Services credits rose $32m (1%).
• The rise in non-rural and other goods was driven by coal, coke and briquettes, which rose $309m (13%), metal ores and minerals, which rose $233m (5%) and other minerals fuels, which rose $115m (7%).

• Seasonally adjusted, goods and services debits rose $1,292m (6%) to $22,836m. Intermediate and other goods rose $867m (10%) and consumption goods rose $386m (8%) while capital goods fell $2m. Services debits rose $41m (1%).
• The rise in intermediate and other goods was driven by fuels and lubricants, which rose $466m (17%) and processed industrial supplies nes, which rose $223m (13%).