5368.0 - International Trade in Goods and Services, Australia, Dec 2011 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 02/02/2012   
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DECEMBER KEY FIGURES

Oct 2011
Nov 2011
Dec 2011
Nov 11 to Dec 11
$m
$m
$m
% change
BALANCE ON GOODS AND SERVICES
Trend estimates
1 808
1 685
1 602
. .
Seasonally adjusted
1 472
1 343
1 709
. .
CREDITS (Exports of goods & services)
Trend estimates
27 381
27 493
27 596
-
Seasonally adjusted
27 216
27 171
27 792
2
DEBITS (Imports of goods & services)
Trend estimates
25 573
25 808
25 994
1
Seasonally adjusted
25 744
25 829
26 082
1
. . not applicable
- nil or rounded to zero (including null cells)

Balance on Goods and Services
Graph: Graph This graph show the Balance on Goods and Services for the Trend and Seasonally adjusted series



DECEMBER KEY POINTS


BALANCE ON GOODS AND SERVICES
  • In trend terms, the balance on goods and services was a surplus of $1,602m in December 2011, a fall of $83m on the surplus in November 2011.
  • In seasonally adjusted terms, the balance on goods and services was a surplus of $1,709m in December 2011, a rise of $366m on the surplus in November 2011.


CREDITS (EXPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services credits rose $621m (2%) to $27,792m. Non-monetary gold rose $457m (31%), non-rural goods rose $174m (1%) and rural goods rose $12m. Services credits fell $23m (1%).


DEBITS (IMPORTS OF GOODS & SERVICES)
  • In seasonally adjusted terms, goods and services debits rose $253m (1%) to $26,082m. Intermediate and other merchandise goods rose $346m (4%) and consumption goods rose $151m (3%). Non-monetary gold fell $185m (27%) and capital goods fell $106m (2%). Services debits rose $47m (1%).


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2012 9 March 2012
February 2012 4 April 2012
March 2012 8 May 2012
April 2012 8 June 2012
May 2012 5 July 2012
June 2012 2 August 2012



REVISIONS

Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services:
  • on a recorded trade basis, international merchandise exports and imports have been revised back to June 2011
  • on a balance of payments basis:
      • goods credits and debits have been revised back to June 2011
      • services credits have been revised back to July 2011
      • services debits have been revised back to November 2011.

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. In original terms, the revisions have:
  • decreased the surplus on goods and services for 2010-11 by $5m
  • increased the surplus on goods and services for the five months to November 2011 by $267m.

Seasonally adjusted and trend series have been revised due to the incorporation of these revisions and estimates for the latest month.


VALUE ADJUSTMENTS

Adjustments have been made to the value of the 'metal ores and minerals', 'coal, coke and briquettes' and 'capital goods n.e.s.' components in the balance of payments series.

See the Commodity value adjustment section for details.


CHANGES IN FORTHCOMING ISSUES

Implementation of the 2012 update to the international Harmonized Commodity Description and Coding System.

See the Changes in forthcoming issues section for details.


INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.