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MAY KEY FIGURES

		Mar 2012	Apr 2012	May 2012	Apr 12 to May 12
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-540	-589	-598	. .
	Seasonally adjusted	-1 004	-26	-285	. .
CREDITS (Exports of goods & services)
	Trend estimates	25 580	25 703	25 889	1
	Seasonally adjusted	25 335	26 196	26 766	2
DEBITS (Imports of goods & services)
	Trend estimates	26 120	26 292	26 487	1
	Seasonally adjusted	26 339	26 222	27 051	3
. . not applicable

Balance on Goods and Services

• In trend terms, the balance on goods and services was a deficit of $598m in May 2012, a rise of $9m on the deficit in April 2012.
• In seasonally adjusted terms, the balance on goods and services was a deficit of $285m in May 2012, a rise of $259m on the deficit in April 2012.

• In seasonally adjusted terms, goods and services credits rose $570m (2%) to $26,766m. Non-rural goods rose $342m (2%), non-monetary gold rose $185m (15%) and rural goods rose $40m (1%). Net exports of goods under merchanting remained steady at $21m. Services credits rose $4m.

• In seasonally adjusted terms, goods and services debits rose $829m (3%) to $27,051m. Intermediate and other merchandise goods rose $503m (6%), capital goods rose $176m (3%), non-monetary gold rose $108m (27%) and consumption goods rose $10m. Services debits rose $33m (1%).

• on a recorded trade basis, international merchandise exports and imports have been revised back to November 2011
• on a balance of payments basis, goods and services have been revised back to July 2011.

• Amendments to existing customs tariff code correspondences and free standing descriptors
• An improvement to the seasonal adjustment methodology for goods credits at current prices from July 1971 to June 1977.

• Australian customs tariff codes for 1 July 2012
• Australian Harmonized Export Commodity Classification (AHECC) Codes for 1 July 2012
• Change to release date of October 2012 issue.