January key points
Balance on goods and services
- In trend terms, the balance on goods and services was a surplus of $4,984m in January 2020, a decrease of $83m on the surplus in December 2019.
- In seasonally adjusted terms, the balance on goods and services was a surplus of $5,210m in January 2020, a decrease of $166m on the surplus in December 2019.
Credits (exports of goods and services)
- In seasonally adjusted terms, goods and services credits fell $1,166m (3%) to $40,122m. Non-monetary gold fell $735m (34%), non-rural goods fell $714m (3%) and net exports of goods under merchanting fell $8m. Rural goods rose $236m (6%). Services credits rose $54m (1%).
Debits (imports of goods and services)
- In seasonally adjusted terms, goods and services debits fell $1,001m (3%) to $34,911m. Capital goods fell $640m (10%), intermediate and other merchandise goods fell $466m (4%) and consumption goods fell $19m. Non-monetary gold rose $225m (60%). Services debits fell $101m (1%).
Key figures
Nov 2019 | Dec 2019 | Jan 2020 | Dec 19 to Jan 20 | ||
---|---|---|---|---|---|
$m | $m | $m | % change | ||
BALANCE ON GOODS AND SERVICES | |||||
Trend estimates | 5 294 | 5 067 | 4 984 | -2 | |
Seasonally adjusted | 5 656 | 5 376 | 5 210 | -3 | |
CREDITS (Exports of goods & services) | |||||
Trend estimates | 40 848 | 40 581 | 40 371 | -1 | |
Seasonally adjusted | 40 802 | 41 288 | 40 122 | -3 | |
DEBITS (Imports of goods & services) | |||||
Trend estimates | 35 554 | 35 514 | 35 387 | - | |
Seasonally adjusted | 35 146 | 35 912 | 34 911 | -3 |
- nil or rounded to zero (including null cells)
Bushfires and COVID-19 in January month
Quality assurance undertaken by the ABS confirmed that the bushfires and the COVID-19 virus did not result in quality impacts to International Trade in Goods and Services statistics for January 2020. For information on the expected economic impacts of the Bushfires and COVID-19, please see the ABS Chief Economist Series paper Measuring natural disasters in the Australian economy.