International Trade in Goods and Services, Australia

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Statistics about international trade in goods and services, on a balance of payments and international trade basis

Reference period

February 2021

Released

1/04/2021

View all releases

Key statistics

The seasonally adjusted balance on goods and services surplus decreased $2,087m to $7,529m in February.
Goods and services credits (exports) fell $526m (1%) to $38,926m.
Goods and services debits (imports) rose $1,563m (5%) to $31,398m.

Main features

Key figures, seasonally adjusted
		Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Balance on goods and services		7 577	9 616	7 529	-2 087	na
	Credits (Exports of goods & services)	38 017	39 452	38 926	- 526	- 1
	Debits (Imports of goods & services)	-30 440	-29 835	-31 398	1 563	5

na not applicable

Balance on goods and services
	Seasonally Adjusted ($m)
Nov-19	6,077
Dec-19	5,247
Jan-20	4,823
Feb-20	3,094
Mar-20	9,556
Apr-20	7,793
May-20	7,110
Jun-20	7,579
Jul-20	5,135
Aug-20	3,715
Sep-20	5,977
Oct-20	6,915
Nov-20	5,849
Dec-20	7,577
Jan-21	9,616
Feb-21	7,529

Balance on goods and services

["","Seasonally Adjusted"]

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COVID-19

Suspension of trend estimates

The trend series attempts to measure underlying behaviour in international trade activity. In the short term, this measurement will be significantly affected by the current COVID-19 pandemic and subsequent changes to regular patterns in international trade that will occur during this time. If the trend estimates in this publication were to be calculated without fully accounting for this unusual event they would provide a misleading view of underlying international trade activity.

It may be some time before the underlying trend in international trade activity can be accurately estimated. The trend series has therefore been suspended from March 2019 in the time series and will be reinstated when more certainty emerges in the underlying trend in international trade.

Seasonal adjustment and COVID-19

International Accounts uses the concurrent seasonal adjustment method, meaning that seasonal factors are re-estimated each time new data becomes available. If not appropriately accounted for, unusual events such as COVID-19, can distort estimates calculated using this method. From March 2020, seasonal factors for series that have been notably impacted by COVID-19 will be calculated using data up to and including February 2020, then projected from March 2020 onwards. This approach, known as the forward factor method, ensures that the seasonal factors are not distorted by COVID-19 impacts.

The ABS has advised users that it moved to using forward factors for seasonal analysis of a number of series, including Travel Services. Current ABS (and international) practice requires at least three years of data to assess whether a change in the seasonal pattern has occurred. Should COVID-19 result in a long-term change to the seasonal pattern then revisions to these series may occur in the future. The ABS will consult with users on any future methods changes to seasonal adjustment and potential revisions. The Feature Article International Travel Services time series outlines the matter in greater detail.

Balance on goods and services

In seasonally adjusted terms, the balance on goods and services was a surplus of $7,529m in February 2021, a decrease of $2,087m on the surplus in January 2021.

Balance on goods and services(a), seasonally adjusted
			Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Balance on goods and services			7 577	9 616	7 529	-2 087	na
	Total goods and services credits		38 017	39 452	38 926	- 526	- 1
		Total goods credits	32 643	34 290	33 906	- 384	- 1
		Total services credits	5 374	5 162	5 021	- 141	- 3
	Total goods and services debits		-30 440	-29 835	-31 398	1 563	5
		Total goods debits	-26 359	-25 836	-27 247	1 411	5
		Total services debits	-4 081	-3 999	-4 150	151	4

na not applicable
(a) For sign conventions, see the Explanatory notes.

Goods and services credits (exports), seasonally adjusted

Goods credits

	Seasonally Adjusted	Trend (a)
Feb-17	26,086	26,468
Mar-17	26,372	26,196
Apr-17	23,551	25,774
May-17	25,709	25,402
Jun-17	25,095	25,154
Jul-17	24,721	24,953
Aug-17	24,709	24,788
Sep-17	25,382	24,779
Oct-17	24,657	24,976
Nov-17	24,764	25,345
Dec-17	25,623	25,826
Jan-18	26,909	26,338
Feb-18	27,386	26,843
Mar-18	27,324	27,317
Apr-18	26,932	27,755
May-18	28,215	28,175
Jun-18	28,965	28,655
Jul-18	29,124	29,143
Aug-18	29,587	29,564
Sep-18	30,002	29,861
Oct-18	30,247	30,115
Nov-18	30,620	30,393
Dec-18	29,983	30,753
Jan-19	31,722	31,189
Feb-19	31,781	31,738
Mar-19	30,923	-
Apr-19	31,836	-
May-19	33,771	-
Jun-19	34,132	-
Jul-19	35,499	-
Aug-19	33,591	-
Sep-19	34,053	-
Oct-19	31,659	-
Nov-19	32,023	-
Dec-19	31,934	-
Jan-20	30,640	-
Feb-20	28,147	-
Mar-20	33,793	-
Apr-20	31,625	-
May-20	29,100	-
Jun-20	29,766	-
Jul-20	29,230	-
Aug-20	28,202	-
Sep-20	28,607	-
Oct-20	30,280	-
Nov-20	31,298	-
Dec-20	32,643	-
Jan-21	34,290	-
Feb-21	33,906	-

["","Seasonally Adjusted","Trend (a)"]

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(a) Trend series suspended from March 2019.

Goods credits, seasonally adjusted
			Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Total goods credits			32 643	34 290	33 906	- 384	- 1
	General merchandise		29 769	31 563	31 007	- 556	- 2
		Rural goods	4 066	3 965	4 226	261	7
		Non-rural goods	25 703	27 597	26 780	- 817	- 3
	Net exports of goods under merchanting(a)		77	71	71	-	-
	Non-monetary gold(a)		2 797	2 656	2 828	172	6

- Nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.

Rural goods

Rural goods, seasonally adjusted
	Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Rural goods	4 066	3 965	4 226	261	7
	Meat and meat preparations	1 111	1 080	1 101	21	2
	Cereal grains and cereal preparations	1 138	988	1 169	181	18
	Wool and sheepskins	209	179	216	37	21
	Other rural(a)	1 608	1 719	1 740	21	1

Non-rural goods

Non-rural goods, seasonally adjusted
	Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Non-rural goods	25 703	27 597	26 780	- 817	- 3
Metal ores and minerals	14 581	16 016	14 880	-1 136	- 7
Coal, coke and briquettes	3 061	3 090	3 281	191	6
Other mineral fuels	3 134	3 319	3 467	148	4
Metals (excl. non-monetary gold)	894	993	1 125	132	13
Machinery	868	888	858	- 30	- 3
Transport equipment	314	317	319	2	1
Other manufactures	1 797	1 829	1 711	- 118	- 6
Other non-rural (incl. sugar and beverages)(a)	922	1 005	954	- 51	- 5
Goods procured in ports by carriers(b)	132	140	185	45	32

Services credits

Services Credits
	Seasonally Adjusted ($m)	Trend (a) ($m)
Feb-17	6,844	6,958
Mar-17	6,927	7,054
Apr-17	7,349	7,134
May-17	7,238	7,182
Jun-17	7,176	7,198
Jul-17	7,124	7,182
Aug-17	7,135	7,144
Sep-17	7,159	7,111
Oct-17	7,112	7,112
Nov-17	7,140	7,156
Dec-17	7,064	7,232
Jan-18	7,369	7,333
Feb-18	7,578	7,441
Mar-18	7,534	7,541
Apr-18	7,627	7,621
May-18	7,647	7,682
Jun-18	7,738	7,734
Jul-18	7,749	7,788
Aug-18	7,884	7,844
Sep-18	7,898	7,899
Oct-18	7,986	7,952
Nov-18	7,995	8,007
Dec-18	8,004	8,066
Jan-19	8,105	8,130
Feb-19	8,316	8,200
Mar-19	8,240	-
Apr-19	8,320	-
May-19	8,431	-
Jun-19	8,534	-
Jul-19	8,604	-
Aug-19	8,704	-
Sep-19	8,716	-
Oct-19	8,764	-
Nov-19	8,812	-
Dec-19	8,720	-
Jan-20	8,175	-
Feb-20	7,531	-
Mar-20	6,905	-
Apr-20	5,480	-
May-20	5,570	-
Jun-20	5,778	-
Jul-20	5,302	-
Aug-20	5,132	-
Sep-20	5,255	-
Oct-20	5,368	-
Nov-20	5,471	-
Dec-20	5,374	-
Jan-21	5,162	-
Feb-21	5,021	-

Services Credits

["","Seasonally Adjusted","Trend (a)"]

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(a) Trend series suspended from March 2019

Services credits, seasonally adjusted
			Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Total services credits			5 374	5 162	5 021	- 141	- 3
	Manufacturing services on physical inputs owned by others(a)		-	2	2	-	-
	Maintenance and repair services n.i.e.(a)		2	5	5	-	-
	Transport		306	309	312	3	1
		Passenger(b)	1	1	2	1	100
		Freight(c)	19	20	20	-	-
		Other	162	162	164	2	1
		Postal and courier services(d)	124	126	126	-	-
	Travel		2 521	2 326	2 145	- 181	- 8
	Other services		2 545	2 521	2 557	36	1
Memorandum item
	Tourism related services credits(e)		2 522	2 327	2 146	- 181	- 8

-Nil or rounded to zero (including null cells)
(a) This component is not seasonally adjusted.
(b) Passenger transportation services includes agency fees and commissions for air transport.
(c) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) For a more detailed explanation of tourism related services, see the Explanatory notes.

Goods and services debits (imports), seasonally adjusted

Goods debits

Goods Debits
	Seasonally Adjusted	Trend (a)
Feb-17	22,501	23,527
Mar-17	24,065	23,648
Apr-17	23,685	23,755
May-17	23,497	23,855
Jun-17	23,884	23,880
Jul-17	24,238	23,883
Aug-17	23,806	23,927
Sep-17	24,077	24,081
Oct-17	24,010	24,415
Nov-17	24,118	24,832
Dec-17	26,502	25,254
Jan-18	25,654	25,621
Feb-18	25,659	25,891
Mar-18	25,960	26,086
Apr-18	25,521	26,256
May-18	26,886	26,442
Jun-18	26,917	26,708
Jul-18	26,679	26,968
Aug-18	27,090	27,101
Sep-18	26,709	27,107
Oct-18	27,408	26,988
Nov-18	27,443	26,804
Dec-18	25,313	26,665
Jan-19	27,019	26,665
Feb-19	26,391	26,568
Mar-19	26,283	-
Apr-19	26,822	-
May-19	27,277	-
Jun-19	26,195	-
Jul-19	26,852	-
Aug-19	26,724	-
Sep-19	27,421	-
Oct-19	27,348	-
Nov-19	26,095	-
Dec-19	26,592	-
Jan-20	25,494	-
Feb-20	24,599	-
Mar-20	25,040	-
Apr-20	25,510	-
May-20	23,824	-
Jun-20	24,163	-
Jul-20	25,720	-
Aug-20	25,900	-
Sep-20	24,234	-
Oct-20	24,824	-
Nov-20	26,837	-
Dec-20	26,359	-
Jan-21	25,836	-
Feb-21	27,247	-

Goods Debits

["","Seasonally Adjusted","Trend (a)"]

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(a) Trend series suspended from March 2019

Goods debits (imports) (a), seasonally adjusted
			Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Total goods debits			-26 359	-25 836	-27 247	1 411	5
	General merchandise debits		-25 779	-25 391	-26 795	1 404	6
		Consumption goods	-9 842	-9 620	-9 875	255	3
		Capital goods	-6 602	-6 517	-6 469	- 48	- 1
		Intermediate and other merchandise goods	-9 335	-9 254	-10 452	1 198	13
	Non-monetary gold(b)		- 580	- 445	- 452	7	2

(a) For sign conventions, see the Explanatory notes.
(b) This component is not seasonally adjusted.

Consumption goods

Consumption goods(a), seasonally adjusted
	Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Consumption goods	-9 842	-9 620	-9 875	255	3
	Food and beverages, mainly for consumption	-1 447	-1 428	-1 458	30	2
	Household electrical items	- 613	- 684	- 661	- 23	- 3
	Non-industrial transport equipment	-2 182	-2 127	-2 344	217	10
	Textiles, clothing and footwear	-1 766	-1 600	-1 641	41	3
	Toys, books and leisure goods	- 729	- 674	- 716	42	6
	Consumption goods n.e.s.	-3 105	-3 109	-3 054	- 55	- 2

Capital goods

Capital goods(a), seasonally adjusted
	Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Capital goods	-6,602	-6,517	-6,469	-48	-1
	Machinery and industrial equipment	-2,252	-2,126	-2,353	227	11
	ADP equipment	-931	-938	-1,019	81	9
	Telecommunications equipment	-1,301	-1,377	-1,255	-122	-9
	Civil aircraft and confidentialised items(b)(c)	-168	-154	-181	27	18
	Industrial transport equipment n.e.s.	-1,178	-1,106	-871	-235	-21
	Capital goods n.e.s.(d)	-773	-816	-789	-27	-3

Intermediate and other merchandise goods

Intermediate and other merchandise goods(a), seasonally adjusted
	Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Intermediate and other merchandise goods	-9 335	-9 254	-10 452	1,198	13
	Food and beverages, mainly for industry	-186	-176	-183	7	4
	Primary industrial supplies n.e.s.(b)	-159	-130	-112	-18	-14
	Fuels and lubricants	-1 430	-1 914	-2 482	568	30
	Parts for transport equipment	-1 155	-1 135	-1 236	101	9
	Parts for ADP equipment	-67	-61	-66	5	8
	Other parts for capital goods	-1 596	-1 547	-1 629	82	5
	Organic and inorganic chemicals	-306	-290	-322	32	11
	Paper and paperboard	-201	-178	-181	3	2
	Textile yarn and fabrics	-151	-133	-148	15	11
	Iron and steel	-253	-220	-243	23	10
	Plastics	-424	-340	-406	66	19
	Processed industrial supplies n.e.s.	-3 374	-3 100	-3 405	305	10
	Other merchandise goods(c)	-25	-28	-34	6	21
	Goods procured in ports by carriers	-7	-1	-5	4	400

Services debits

	Seasonally Adjusted	Trend (a)
Feb-17	7,196	7,159
Mar-17	7,007	7,251
Apr-17	7,538	7,333
May-17	7,474	7,401
Jun-17	7,343	7,450
Jul-17	7,461	7,490
Aug-17	7,598	7,526
Sep-17	7,567	7,560
Oct-17	7,561	7,612
Nov-17	7,635	7,691
Dec-17	7,870	7,778
Jan-18	7,742	7,865
Feb-18	7,990	7,943
Mar-18	8,188	8,006
Apr-18	7,988	8,055
May-18	7,982	8,102
Jun-18	8,163	8,155
Jul-18	8,245	8,222
Aug-18	8,333	8,298
Sep-18	8,339	8,375
Oct-18	8,448	8,433
Nov-18	8,449	8,464
Dec-18	8,613	8,483
Jan-19	8,389	8,500
Feb-19	8,521	8,516
Mar-19	8,477	-
Apr-19	8,620	-
May-19	8,670	-
Jun-19	8,578	-
Jul-19	8,640	-
Aug-19	8,803	-
Sep-19	8,786	-
Oct-19	8,716	-
Nov-19	8,663	-
Dec-19	8,815	-
Jan-20	8,498	-
Feb-20	7,985	-
Mar-20	6,103	-
Apr-20	3,803	-
May-20	3,735	-
Jun-20	3,803	-
Jul-20	3,678	-
Aug-20	3,720	-
Sep-20	3,652	-
Oct-20	3,909	-
Nov-20	4,083	-
Dec-20	4,081	-
Jan-21	3,999	-
Feb-21	4,150	-

["","Seasonally Adjusted","Trend (a)"]

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[]

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(a) Trend series suspended from March 2019

Services debits(a), seasonally adjusted
			Dec-20 ($m)	Jan-21 ($m)	Feb-21 ($m)	Jan-21 to Feb-21 ($m)	Jan-21 to Feb-21 (%)
Total services debits			-4 081	-3 999	-4 150	151	4
	Manufacturing services on physical inputs owned by others(b)		-	-	-	-	-
	Maintenance and repair services n.i.e.(b)		- 35	- 57	- 29	- 28	- 49
	Transport		-1 185	-1 126	-1 277	151	13
		Passenger(c)	- 62	- 52	- 62	10	19
		Freight	-1 092	-1 057	-1 198	141	13
		Other(b)	- 10	- 8	- 8	-	-
		Postal and courier services(d)(e)	- 20	- 9	- 9	-	-
	Travel		- 55	- 45	- 52	7	16
	Other services		-2 806	-2 771	-2 793	22	1
Memorandum item
	Tourism related services debits(f)		- 117	- 97	- 113	16	16

- Nil or rounded to zero (including null cells)
(a) For sign conventions, see the Explanatory Notes.
(b) This component is not seasonally adjusted.
(c) Passenger services includes agency fees and commissions for air transport.
(d) Postal and courier services includes indirect commissions for sea transport.
(e) In using these seasonally adjusted series, care should be exercised because of the difficulties associated with reliably estimating the seasonal pattern.
(f) For a more detailed explanation of tourism related services, see the Explanatory notes.

Supplementary information

Selected commodities

Selected commodities, quantities (a)
	Sep-20 (%)	Oct-20 (%)	Nov-20 (%)	Dec-20 (%)	Jan-21 (%)	Feb-21 (%)
Iron ore - Lump	- 1	9	- 12	12	- 13	- 13
Iron ore - Fines	-	2	- 6	11	- 13	- 5
Coal - Hard coking	9	- 3	- 11	34	- 21	- 12
Coal - Semi-soft	-	- 15	25	- 12	16	- 7
Coal - Thermal	- 18	17	- 17	25	- 8	- 5
Gas - LNG	-6	14	-1	-4	0	- 5

- Nil or rounded to zero (including null cells)
(a) Data in this table is on a revised international merchandise trade basis and excludes value adjustments applied to balance of payments series.

Selected commodities, unit values (a)
	Sep-20 (%)	Oct-20 (%)	Nov-20 (%)	Dec-20 (%)	Jan-21 (%)	Feb-21 (%)
Iron ore - Lump	3	2	- 1	15	11	-
Iron ore - Fines	4	1	3	14	5	- 1
Coal - Hard coking	- 4	7	2	- 13	2	25
Coal - Semi-soft	- 2	1	-	- 6	1	13
Coal - Thermal	1	- 2	3	2	13	8
Gas - LNG	-4	9	17	7	6	2

- nil or rounded to zero (including null cells)
(a) Data in this table is on a revised international merchandise trade basis and excludes value adjustments applied to balance of payments series.

Selected commodity movements

On an international merchandise trade basis, in original terms (noting the footnote in the above table), between January 2021 to February 2021 the largest movements recorded for the following selected commodities were:

Iron ore (lump), movement by country, Jan-21 to Feb-21
	Value ($m)	Value (%)	Quantity (%)	Unit Value (%)
Iron ore (lump) - Total movement	- 422	- 13	- 13	-
China (excludes SARs and Taiwan)	- 385	- 16	- 15	- 1
Korea, Republic of (South)	- 124	- 43	- 48	11
Japan	54	25	26	- 1
Hong Kong (SAR of China)	67	100	69	18