3 Feb 2015
Australia's trade deficit shrinks in December
FXStreet (Bali) - Australia's trade balance came in at -436M in December, above forecasts of -775M, while building permits (MoM) registered -3.3% in December, which was above expectations of -5%.
Main headlines
Australia Imports down to -1% in December from previous 1%
Australia Exports remains unchanged at 1% in December
Australia Trade Balance came in at -436M, above forecasts (-775M) in December
Australia Building Permits (MoM) registered at -3.3% above expectations (-5%) in December
Key facts - Trade Balance
BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $830m in December 2014, a decrease of $129m (13%) on the deficit in November 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $436m in December 2014, a decrease of $580m (57%) on the deficit in November 2014.
CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits rose $374m (1%) to $27,243m. Non-monetary gold rose $428m (52%) and rural goods rose $331m (10%). Non-rural goods fell $417m (2%). Net exports of goods under merchanting remained steady at $43m. Service credits rose $31m (1%).
DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits fell $206m (1%) to $27,680m. Intermediate and other merchandise goods fell $296m (3%) and capital goods fell $5m. Non-monetary gold rose $53m (22%) and consumption goods rose $17m. Service debits rose $25m.
2014 SITUATION: In original terms, the balance on goods and services for 2014 was deficit of $9.9b, a fall of $0.4b (4%) on the deficit of $10.3b recorded in 2013, resulting from a $7.8b (2%) increase in goods and services credits partly offset by a $7.3b (2%) increase in goods and services debits.
Key facts - Building Permits
TOTAL DWELLING UNITS: The trend estimate for total dwellings approved rose 1.3% in December and has risen for seven months. The seasonally adjusted estimate for total dwellings approved fell 3.3% in December after rising for two months.
PRIVATE SECTOR HOUSES: The trend estimate for private sector houses approved fell 0.2% in December and has fallen for nine months. The seasonally adjusted estimate for private sector houses was flat in December after falling for three months.
PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES: The trend estimate for private sector dwellings excluding houses rose 2.9% in December and has risen for seven months.
The seasonally adjusted estimate for private sector dwellings excluding houses fell 9.7% in December after rising for two months.
VALUE OF BUILDING APPROVED: The trend estimate of the value of total building approved rose 0.2% in December after falling for four months. The value of residential building rose 0.6% and has risen for two months. The value of non-residential building fell 0.7% and has fallen for four months. The seasonally adjusted estimate of the value of total building approved fell 14.7% in December after rising for two months. The value of residential building fell 10.9% after rising for two months. The value of non-residential building fell 22.7% following a rise of 29.1% in the previous month.
Main headlines
Australia Imports down to -1% in December from previous 1%
Australia Exports remains unchanged at 1% in December
Australia Trade Balance came in at -436M, above forecasts (-775M) in December
Australia Building Permits (MoM) registered at -3.3% above expectations (-5%) in December
Key facts - Trade Balance
BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $830m in December 2014, a decrease of $129m (13%) on the deficit in November 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $436m in December 2014, a decrease of $580m (57%) on the deficit in November 2014.
CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits rose $374m (1%) to $27,243m. Non-monetary gold rose $428m (52%) and rural goods rose $331m (10%). Non-rural goods fell $417m (2%). Net exports of goods under merchanting remained steady at $43m. Service credits rose $31m (1%).
DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits fell $206m (1%) to $27,680m. Intermediate and other merchandise goods fell $296m (3%) and capital goods fell $5m. Non-monetary gold rose $53m (22%) and consumption goods rose $17m. Service debits rose $25m.
2014 SITUATION: In original terms, the balance on goods and services for 2014 was deficit of $9.9b, a fall of $0.4b (4%) on the deficit of $10.3b recorded in 2013, resulting from a $7.8b (2%) increase in goods and services credits partly offset by a $7.3b (2%) increase in goods and services debits.
Key facts - Building Permits
TOTAL DWELLING UNITS: The trend estimate for total dwellings approved rose 1.3% in December and has risen for seven months. The seasonally adjusted estimate for total dwellings approved fell 3.3% in December after rising for two months.
PRIVATE SECTOR HOUSES: The trend estimate for private sector houses approved fell 0.2% in December and has fallen for nine months. The seasonally adjusted estimate for private sector houses was flat in December after falling for three months.
PRIVATE SECTOR DWELLINGS EXCLUDING HOUSES: The trend estimate for private sector dwellings excluding houses rose 2.9% in December and has risen for seven months.
The seasonally adjusted estimate for private sector dwellings excluding houses fell 9.7% in December after rising for two months.
VALUE OF BUILDING APPROVED: The trend estimate of the value of total building approved rose 0.2% in December after falling for four months. The value of residential building rose 0.6% and has risen for two months. The value of non-residential building fell 0.7% and has fallen for four months. The seasonally adjusted estimate of the value of total building approved fell 14.7% in December after rising for two months. The value of residential building fell 10.9% after rising for two months. The value of non-residential building fell 22.7% following a rise of 29.1% in the previous month.