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FEATURE ARTICLE- AUSTRALIA'S EXPORTERS, 2002-03
FEATURE ARTICLE - AUSTRALIA'S IMPORTERS, 2002-03

April Key Figures

KEY FIGURES
	February 2004	March 2004	April 2004	Mar 04 to Apr 04
	$m	$m	$m	% change
Trend
Balance on goods & services	-1,921	-1,898	-1,895	..
Credits (exports of goods & services)	11,886	11,987	12,082	1
Debits (imports of goods & services)	13,807	13,885	13,977	1
Seasonally Adjusted
Balance on goods & services	-1,728	-1,986	-1,808	..
Credits (exports of goods & services)	11,683	11,767	12,446	6
Debits (imports of goods & services)	13,411	13,753	14,254	4
. . not applicable

Balance on goods and services

• The provisional trend estimate of the balance on goods and services was a deficit of $1,895m in April 2004, a decrease of $3m on the deficit in March.
• Goods and services credits rose $95m (1%) to $12,082m. Goods and services debits rose $92m (1%) to $13,977m.

• In seasonally adjusted terms, the balance on goods and services was a deficit of $1,808m in April, a decrease of $178m on the deficit in March.
• Goods and services credits rose $679m (6%) to $12,446m, with goods credits up $685m (8%) and services credits down $6m. Non-rural and other goods rose $428m (6%) and rural goods rose $257m (13%).
• Goods and services debits rose $501m (4%) to $14,254m, with goods debits up $515m (5%) and services debits down $14m. Intermediate and other goods rose $221m (5%), consumption goods rose $192m (5%) and capital goods rose $102m (4%).

• In original terms, the April balance on goods and services was a deficit of $1,817m, a decrease of $432m on the deficit in March. Goods and services debits fell $585m (4%), while goods and services credits fell $153m (1%).
• In the ten months to April, exports of non-rural and other goods were down $6.7b (9%) and rural goods were down $2.6b (12%) on the corresponding period in 2002-03.

A prototype of the new table is available on the ABS web site <https://www.abs.gov.au>.

To access this table on the web site select:

Main Features then 5368.0 then April 2004

CAUTIONARY NOTE

The tables in this publication are presented on two bases. Tables 1-6 contain estimates of Australia's international trade in goods and services which have been adjusted for coverage, valuation and timing to a balance of payments basis. Tables 7-10 contain estimates of merchandise exports and imports based on Australian Customs Service records. Paragraph 5 of the Explanatory Notes provides an explanation of the difference between these bases.

Inquiries

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Artur Andrysiak on Canberra (02) 6252 6792.

Analysis and comments


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in April 2004 was a deficit of $1,895m, a decrease of $3m on the deficit in March.

In seasonally adjusted terms, the balance on goods and services in April 2004 was a deficit of $1,808m, a decrease of $178m on the deficit in March.

EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $95m (1%) in April to $12,082m.

In seasonally adjusted terms, goods and services credits rose $679m (6%) in April to $12,446m. Non-rural and other goods rose $428m (6%), rural goods rose $257m (13%), while services credits fell $6m.

Exports of goods

GOODS CREDITS

In seasonally adjusted terms, rural goods rose $257m (13%) to $2,253m.

Rural goods in original terms rose $52m (2%) to $2,180m.

Movements in the original series contributing to the rise in seasonally adjusted terms were:

• cereal grains and cereal preparations, up $136m (30%), largely due to increased wheat volumes, compared with an average March to April rise of 5% over the previous three years
• wool and sheepskins, down $22m (8%), compared with an average March to April fall of 29% over the previous three years
• other rural, down $29m (3%), compared with an average March to April fall of 7% over the previous three years
• meat and meat preparations, down $33m (6%), compared with an average March to April fall of 10% over the previous three years.

Seasonally adjusted, non-rural and other goods rose $428m (6%) to $7,317m.

In original terms, non-rural and other goods fell $14m to $7,107m.

Movements in the original series contributing to the rise in seasonally adjusted terms were:

• other goods, up $225m (43%), due to increased exports of gold, in contrast to an average March to April fall of 14% over the previous three years
• coal, coke and briquettes, up $172m (20%), mainly due to increased coal volumes, in contrast to an average March to April fall of 1% over the previous three years
• transport equipment, down $60m (13%), compared with an average March to April fall of 26% over the previous three years
• other manufactures, down $90m (8%), compared with an average March to April fall of 11% over the previous three years
• metals (excluding gold), down $43m (6%), compared with an average March to April fall of 11% over the previous three years.

• metal ores and minerals, down $118m (9%), in contrast to an average March to April rise of 2% over the previous three years
• other mineral fuels, down $77m (11%), compared with an average March to April fall of 2% over the previous three years.

SERVICES CREDITS

Seasonally adjusted, services credits fell marginally to $2,876m.

IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $92m (1%) in April to $13,977m.

In seasonally adjusted terms, goods and services debits rose $501m (4%) to $14,254m. Intermediate and other goods rose $221m (5%), consumption goods rose $192m (5%) and capital goods rose $102m (4%), while services debits fell $14m.

Imports of goods

GOODS DEBITS

In seasonally adjusted terms, imports of consumption goods rose $192m (5%) to $3,717m.

Imports of consumption goods, in original terms, fell $198m (5%) to $3,487m.

Contributing to the rise in the seasonally adjusted series were:

• an adjustment made as part of the regular seasonal adjustment process to take into account different trading day patterns in March and April, which contributed about 5 percentage points to the rise
• non-industrial transport equipment, down $46m (4%), compared with stronger March to April falls in recent years.

Capital goods

The trend estimate of imports of capital goods fell $3m to $2,572m.

In seasonally adjusted terms, imports of capital goods rose $102m (4%) to $2,648m.

Imports of capital goods, in original terms, fell $189m (7%) to $2,481m.

Contributing to the rise in the seasonally adjusted series were:

• an adjustment made as part of the regular seasonal adjustment process to take into account different trading day patterns in March and April, which contributed about 9 percentage points to the rise
• civil aircraft, down $3m (3%), compared with an average March to April fall of 38% over the previous three years.

• telecommunications equipment, down $79m (18%), in contrast to an average March to April rise of 2% over the previous three years
• capital goods n.e.s., down $46m (12%), in contrast to an average March to April rise of 5% over the previous three years.

In seasonally adjusted terms, intermediate and other goods imports rose $221m (5%) to $4,961m.

Imports of intermediate and other goods, in original terms, fell $213m (4%) to $4,975m.

Contributing to the rise in the seasonally adjusted series were:

• fuels and lubricants, up $38m (4%), in contrast to an average March to April fall of 12% over the previous three years
• iron and steel, up $40m (25%), in contrast to an average March to April fall of 1% over the previous three years
• primary industrial supplies n.e.s., up $16m (18%), in contrast to an average March to April fall of 19% over the previous three years.

• other goods, down $90m (19%), in contrast to an average March to April rise of 8% over the previous three years
• processed industrial supplies n.e.s., down $30m (3%), in contrast to an average March to April rise of 8% over the previous three years.

SERVICES DEBITS

Seasonally adjusted, services debits fell $14m to $2,928m.