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SEPTEMBER KEY FIGURES

		Jul 2011	Aug 2011	Sep 2011	Aug 11 to Sep 11
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	2 363	2 596	2 718	. .
	Seasonally adjusted	1 830	2 953	2 564	. .
CREDITS (Exports of goods & services)
	Trend estimates	26 882	27 252	27 486	1
	Seasonally adjusted	26 130	28 037	27 325	-3
DEBITS (Imports of goods & services)
	Trend estimates	24 519	24 657	24 768	-
	Seasonally adjusted	24 300	25 084	24 761	-1
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services

• The trend estimate of the balance on goods and services was a surplus of $2,718m in September 2011, a rise of $122m on the surplus in August 2011.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $2,564m in September 2011, a fall of $389m on the surplus in August 2011.

• In seasonally adjusted terms, goods and services credits fell $712m (3%) to $27,325m. Non-monetary gold fell $411m (24%) and non-rural goods fell $295m (2%). Rural goods rose $45m (2%) and net exports of goods under merchanting rose $1m (25%). Services credits fell $52m (1%).

• In seasonally adjusted terms, goods and services debits fell $323m (1%) to $24,761m. Intermediate and other merchandise goods fell $460m (5%) and consumption goods fell $155m (3%). Capital goods rose $302m (6%) and non-monetary gold rose $39m (7%). Services debits fell $47m (1%).

• on a recorded trade basis, international merchandise exports and imports have been revised back to March 2011
• on a balance of payments basis:
  • goods and services have been revised back to July 2010
  • services have been revised for the periods from July 1984 to June 1994.

• increased the surplus on goods and services for 2010-11 by $42m
• decreased the surplus on goods and services for the two months to August 2011 by $265m.

• for this issue, no value adjustments have been applied to the 'metal ores and minerals' or 'coal, coke and briquettes' components. All previous adjustments applied to these components have been removed.

• the balance of payments goods debits component 'capital goods n.e.s.' includes an estimate of capital expenditure on goods that have changed ownership but have not yet crossed the Customs frontier.