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JULY KEY FIGURES

		May 2018	Jun 2018	Jul 2018	Jun 18 to Jul 18
		$m	$m	$m	% change
BALANCE ON GOODS AND SERVICES
	Trend estimates	1 242	1 408	1 425	1
	Seasonally adjusted	772	1 937	1 551	-20
CREDITS (Exports of goods & services)
	Trend estimates	35 487	35 831	36 074	1
	Seasonally adjusted	35 529	36 432	36 070	-1
DEBITS (Imports of goods & services)
	Trend estimates	34 245	34 424	34 649	1
	Seasonally adjusted	34 757	34 495	34 519	-
- 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 $1,425m in July 2018, an increase of $17m on the surplus in June 2018.
• In seasonally adjusted terms, the balance on goods and services was a surplus of $1,551m in July 2018, a decrease of $386m on the surplus in June 2018.

• In seasonally adjusted terms, goods and services credits fell $362m (1%) to $36,070m. Non-monetary gold fell $189m (10%), non-rural goods fell $138m (1%) and rural goods fell $76m (2%). Net exports of goods under merchanting rose $7m. Services credits rose $34m.

• In seasonally adjusted terms, goods and services debits rose $24m to $34,519m. Intermediate and other merchandise goods rose $605m (6%) and non-monetary gold rose $69m (11%). Capital goods fell $429m (6%) and consumption goods fell $329m (4%). Services debits rose $109m (1%).