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DECEMBER KEY FIGURES

		Oct 2013	Nov 2013	Dec 2013	Nov 13 to Dec 13
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	-320	-66	184	(a). .
	Seasonally adjusted	-417	83	468	464
CREDITS (Exports of goods and services)
	Trend estimates	27 428	27 716	28 006	1
	Seasonally adjusted	27 247	27 488	28 511	4
DEBITS (Imports of goods and services)
	Trend estimates	27 748	27 781	27 822	-
	Seasonally adjusted	27 664	27 404	28 042	2
. . not applicable
- nil or rounded to zero (including null cells)
(a) See paragraph 15 of the Explanatory Notes.

Balance on Goods and Services

• In trend terms, the balance on goods and services was a surplus of $184m in December 2013, a turnaround of $250m on the deficit in November 2013.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $468m in December 2013, an increase of $385m (464%) on the surplus in November 2013.

• In seasonally adjusted terms, goods and services credits rose $1,023m (4%) to $28,511m. Non-rural goods rose $897m (5%), rural goods rose $521m (17%) and net exports of goods under merchanting rose $1m (2%). Non-monetary gold fell $373m (28%). Services credits fell $23m.

• In seasonally adjusted terms, goods and services debits rose $638m (2%) to $28,042m. Capital goods rose $238m (4%), consumption goods rose $186m (3%), intermediate and other merchandise goods rose $123m (1%) and non-monetary gold rose $32m (10%). Services debits rose $59m (1%).

• In original terms, the balance on goods and services for 2013 was a deficit of $7.2b, a fall of $15.8b (69%) on the deficit of $23.1b recorded in 2012, resulting from a $18.4b (6%) increase in
  goods and services credits partly offset by a $2.5b (1%) increase in goods and services debits.

• on an international merchandise trade basis, exports and imports have been revised back to June 2013
• on a balance of payments basis revisions have been applied to:
  • goods credits back to June 2013
  • goods debits back to August 2012
  • services credits back to October 2013
  • services debits back to February 2013.

• increased the deficit on goods and services for 2012-13 by $251m
• increased the deficit on goods and services for the five months to November 2013 by $98m.

• Changes to export and import statistical codes.