JUNE KEY FIGURES

		Apr 2010	May 2010	Jun 2010	May 10 to Jun 10
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	1 748	2 058	2 391	. .
	Seasonally adjusted	1 264	1 825	3 539	. .
CREDITS (Exports of goods & services)
	Trend estimates	24 107	24 788	25 398	2
	Seasonally adjusted	23 490	24 908	26 679	7
DEBITS (Imports of goods & services)
	Trend estimates	22 358	22 730	23 008	1
	Seasonally adjusted	22 227	23 083	23 140	-
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services

JUNE KEY POINTS


BALANCE ON GOODS AND SERVICES

• The trend estimate of the balance on goods and services was a surplus of $2,391m in June 2010, an increase of $333m on the revised surplus in May 2010.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $3,539m in June 2010, an increase of $1,714m on the revised surplus in May 2010.

CREDITS (EXPORTS OF GOODS & SERVICES)

• In seasonally adjusted terms, goods and services credits rose $1,771m (7%) to $26,679m. Non-rural goods rose $2,087m (13%) and rural goods rose $142m (6%). Non-monetary gold fell $473m (24%). Services credits rose $16m.

DEBITS (IMPORTS OF GOODS & SERVICES)

• In seasonally adjusted terms, goods and services debits rose $57m to $23,140m. Intermediate and other merchandise goods rose $351m (5%) and consumption goods rose $41m (1%). Non-monetary gold fell $240m (28%) and capital goods fell $147m (3%). Services debits rose $53m (1%).

2009-10 SITUATION

• For 2009-10, the balance on goods and services was a deficit of $6.0b, a turnaround of $11.9b on the surplus of $5.9b recorded in 2008-09, resulting from a $30.4b (11%) decrease in goods and services credits offset by a $18.6b (7%) decrease in goods and services debits.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
July 2010	2 September 2010
August 2010	5 October 2010
September 2010	4 November 2010
October 2010	2 December 2010
November 2010	11 January 2011
December 2010	3 February 2011

REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services.

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication, for the last three financial years and last six months. In original terms, the revisions have:

• increased the surplus on goods and services for May 2010 by $3m
• decreased the deficit on goods and services for the 11 months to May 2010 by $434m.

Seasonally adjusted and trend series have been revised due to the incorporation of revised estimates, the incorporation of estimates for the latest month and the rederivation of seasonal factors under the concurrent seasonal adjustment methodology.


IRON ORE AND COAL PRICES

Adjustments have been made to the value of the 'metal ores and minerals' and 'coal, coke and briquettes' components in the balance of payments series. See the section Commodity prices adjustment, for details.


CHANGES IN FORTHCOMING ISSUES

Tables 12 and 13 of this publication present the major commodities for international merchandise trade exports and imports, respectively. The major commodities will be reviewed and updated as appropriate in the July issue of this publication.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for Goods, and Andrew Tomadini on Canberra (02) 6252 7094 for Services.