Australia Yearbook - 2009-10

31.6 CHAIN VOLUME MEASURES, IMPLICIT PRICE DEFLATORS AND TERMS OF TRADE(a)
2004–05 2005–06 2006–07 2007–08 2008–09
Chain volume measures
Goods and services
$m 8 284 –1 361 –12 757 –35 476 –24 953
Goods and services credits $m 203 408 207 887 215 695 224 500 228 526
Goods credits $m 160 337 164 308 169 515 175 092 178 265
Services credits $m 42 546 43 326 46 182 49 408 50 260
Goods and services debits $m –195 125 –209 246 –228 452 –259 976 –253 479
Goods debits $m –154 917 –168 016 –184 024 –205 966 –201 651
Services debits $m –40 101 –41 250 –44 427 –54 012 –51 829
Implicit price deflators
Goods and services credits index 82.4 94.4 100.0 104.2 125.0
Goods credits
index 79.7 94.0 100.0 104.4 130.0
Services credits
index 93.3 96.6 100.0 103.3 107.4
Goods and services debits index 97.5 100.7 100.0 99.0 110.4
Goods debits
index 97.4 101.0 100.0 99.6 110.8
Services debits
index 98.0 99.6 100.0 96.7 108.7
Terms of trade
Goods and services
index 84.5 93.7 100.0 105.2 113.2
Goods
index 81.9 93.0 100.0 104.8 117.3
Services
index 95.2 97.0 100.0 106.8 98.8
(a)
Reference year for chain volume measures, price and
term of trade indexes is 2006–07.
Source: Balance of Payments and International Investment
Position, Australia (5302.0).
International trade in goods by
commodity (merchandise trade
basis)
In 2008–09 Australia’s exports of goods were
worth more than goods imported. This resulted
in a surplus of $11.0b, a turnaround of $32.5b on
the deficit of $21.5b recorded in 2007–08.
Graph 31.7 shows the top ten commodity exports
in 2008–09. In 2008–09 total exports of goods
increased by $49.6b (27%) to $230.5b. The largest
increases were:
• Coal, not agglomerated, up $30.1b (123%)
• Iron ore and concentrates, up $13.7b (67%)
• Gold, non-monetary, up $4.8b (40%)
• Natural gas, up $4.2b (72%).
Graph 31.8 shows the top ten commodity
imports in 2008–09. In 2008–09 total imports of
goods increased by $17.2b (8%) to $219.5b. The
largest increases were:
31.7 MERCHANDISE EXPORTS OF MAJOR COMMODITIES,
By commodity group(a)
Coal, not agglomerated
Iron ore and concentrates
Gold, non-monetary
Natural gas
Crude petroleum oils
Aluminium ores and concentrates
Aluminium
Meat of bovine animals
Wheat and meslin
Medicaments
2007–08
2008–09
0 10000 20000 30000 40000 50000 60000
$m
(a) Abbreviated description used. Refer to UN Standard International Trade Classification,
Revision 4 (SITC Rev 4), 3-digit code.
Source: International Trade in Goods and Services, Australia (5368.0).
Chapter 31 — International accounts and trade 753