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FEBRUARY KEY FIGURES

		Dec 2013	Jan 2014	Feb 2014	Jan 14 to Feb 14
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	520	921	1 229	33
	Seasonally adjusted	469	1 392	1 200	-14
CREDITS (Exports of goods and services)
	Trend estimates	28 638	29 202	29 677	2
	Seasonally adjusted	28 636	29 850	29 970	-
DEBITS (Imports of goods and services)
	Trend estimates	28 119	28 281	28 448	1
	Seasonally adjusted	28 167	28 458	28 770	1
- nil or rounded to zero (including null cells)

Balance on Goods and Services

• In trend terms, the balance on goods and services was a surplus of $1,229m in February 2014, an increase of $308m (33%) on the surplus in January 2014.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $1,200m in February 2014, a decrease of $192m (14%) on the surplus in January 2014.

• In seasonally adjusted terms, goods and services credits rose $120m to $29,970m. Non-rural goods rose $420m (2%). Net exports of goods under merchanting remained steady at $15m. Rural goods fell $157m (4%) and non-monetary gold fell $133m (10%). Services credits fell $10m.

• In seasonally adjusted terms, goods and services debits rose $312m (1%) to $28,770m. Capital goods rose $791m (15%) and non-monetary gold rose $109m (43%). Intermediate and other merchandise goods fell $531m (5%) and consumption goods fell $58m (1%). Services debits rose $3m.

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

• increased the deficit on goods and services for 2012-13 by $689m
• increased the deficit on goods and services for the seven months to January 2014 by $1,362m.