5489.0 - International Merchandise Trade, Australia: Concepts, Sources and Methods, 2015  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 11/11/2015   
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TIMELINESS

11.23 Timeliness refers to the delay between the reference period to which the data pertains and the date on which the data become available. There is an important trade-off between the accuracy of the estimates and the timeliness of their release. As international merchandise trade statistics are important inputs to major economic indicators and there is wide-spread use of the data for other purposes, there is a need to publish the statistics on a timely basis, consistent with achieving acceptable levels of accuracy.

11.24 To the extent that complete or accurate data are not available within the desired time frame, there will be compromises in data quality. For example, exporters who have been accorded Confirming Exporter Status by the DIBP can revise the value, quantity and weight details after the goods have been included in the initial export estimates, see revisions analysis below.

11.25 The timeliness of public release of Australia's international merchandise trade statistics rates favourably against similar, detailed statistics produced by our major trading partners, as shown in Table 11.1. Collection, compilation and dissemination practices vary between Australia's major trading partners, so only broad comparisons are possible.

TABLE 11.1: RELEASE OF INTERNATIONAL MERCHANDISE TRADE STATISTICS - COMPARISON WITH MAJOR TRADING PARTNERS
CountryPeriodPublic release of international merchandise trade statistics
AustraliaMonthly23 working days after the end of the reference month.
China(a)MonthlyProvisional data (imports) within 13 days and detailed data within 25 days after the end of the reference month.
JapanMonthly30 days after the end of the reference month.
United StatesMonthly4-5 weeks after the end of the calendar month.
Republic of KoreaMonthly20 days after the end of the reference month.
SingaporeMonthly17 days after the end of the reference month.
United KingdomMonthly40-42 calendar days after the end of the reference month for non-European Union trade data.
43-49 calendar days after the end of the reference month for European Union trade data.
New Zealand(b)Monthly18 working days after the end of the reference month.
IndiaMonthlyGenerally the first day following the reference month.
ThailandMonthly 30 days after the end of the reference month.
MalaysiaMonthly4-7 weeks after the end of the reference month.
Source: International Monetary Fund website, http://dsbb.imf.org, excluding information on China and New Zealand.
(a) Information sourced from China's Customs Statistics (Monthly Exports and Imports) publication.
(b) Information provided by Statistics New Zealand.