5368.0 - International Trade in Goods and Services, Australia, Aug 2014

Quality Declaration

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 02/10/2014

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AUGUST KEY FIGURES

		Jun 2014	Jul 2014	Aug 2014	Jul 14 to Aug 14
		$m	$m	$m	% change

BALANCE ON GOODS AND SERVICES
	Trend estimates	-1 294	-1 474	-1 548	-5
	Seasonally adjusted	-1 654	-1 075	-787	27
CREDITS (Exports of goods and services)
	Trend estimates	26 626	26 305	26 110	-1
	Seasonally adjusted	26 266	26 785	26 372	-2
DEBITS (Imports of goods and services)
	Trend estimates	27 920	27 779	27 657	-
	Seasonally adjusted	27 919	27 860	27 159	-3

- nil or rounded to zero (including null cells)

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

AUGUST KEY POINTS

BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a deficit of $1,548m in August 2014, an increase of $74m (5%) on the deficit in July 2014.
In seasonally adjusted terms, the balance on goods and services was a deficit of $787m in August 2014, a decrease of $288m (27%) on the deficit in July 2014.

CREDITS (EXPORTS OF GOODS AND SERVICES)

In seasonally adjusted terms, goods and services credits fell $413m (2%) to $26,372m. Non-monetary gold fell $252m (21%), rural goods fell $142m (4%) and non-rural goods fell $17m. Net exports of goods under merchanting remained steady at $8m. Services credits fell $1m.

DEBITS (IMPORTS OF GOODS AND SERVICES)

In seasonally adjusted terms, goods and services debits fell $701m (3%) to $27,159m. Intermediate and other merchandise goods fell $878m (9%), consumption goods fell $65m (1%) and non-monetary gold fell $25m (10%). Capital goods rose $294m (6%). Services debits fell $27m.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
September 2014	4 November 2014
October 2014	4 December 2014
November 2014	6 January 2015
December 2014	3 February 2015
January 2015	5 March 2015
February 2015	2 April 2015

REVISIONS

Since the previous issue of this publication revisions have been made to incorporate:

amendments to the correspondence between the Australian Harmonized Export Commodity Classification (AHECC) and the Standard International Trade Classification Revision 4 (SITC Rev. 4)
amendments to the correspondence between the Combined Australian Customs Tariff Nomenclature and Statistical Classification (Customs Tariff) and the Standard International Trade Classification Revision 4 (SITC Rev. 4)
the reclassification of selected exports and imports data from merchandise to non-merchandise trade
the latest data relating to international trade in goods and services.

See the Revisions section for details.

CHANGES IN THIS ISSUE

Changes in this issue:

change to country label
change to port label
correspondence between AHECC and SITC Rev. 4
correspondence between Customs Tariff and SITC Rev. 4
improvements to the low value threshold adjustment
annual seasonal re-analysis.

See the Changes in this issue section for details.

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 Value adjustments section for details.

PRIVACY

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INQUIRIES

For further information contact Balance of Payments on Canberra (02) 6252 5540 for Goods, and International Trade in Services on Hobart (03) 6222 5926 for Services.