Australia Yearbook - 2001

1010 Year Book Australia 2001
30.7 IMPLICIT PRICE DEFLATORS AND TERMS OF TRADE
1994–95 1995–96 1996–97 1997–98 1998–99 1999–00
Implicit price deflators(a)(b)
Goods and services credits 100.9 103.4 99.3 103.6 100.0 102.8
Goods credits 102.9 105.6 99.9 105.0 100.0 102.8
Services credits 94.3 96.3 97.6 99.2 100.0 102.7
Goods and services debits 101.5 101.0 94.2 98.3 100.0 98.8
Goods debits 105.4 104.3 96.1 99.3 100.0 98.6
Services debits 88.9 90.2 87.8 94.9 100.0 99.5
Chain Laspeyres price indexes(b)
Goods and services credits 99.9 102.4 99.0 103.5 100.0 102.5
Goods credits 101.7 104.4 99.4 104.8 100.0 102.4
Services credits 94.2 96.2 97.5 99.1 100.0 102.7
Goods and services debits 98.6 98.8 92.9 97.4 100.0 99.7
Goods debits 101.9 101.8 94.6 98.2 100.0 99.7
Services debits 88.5 89.8 87.4 94.8 100.0 99.6
Terms of trade(b)(c)
Goods and services 99.4 102.4 105.4 105.4 100.0 104.0
Goods 97.7 101.2 103.9 105.8 100.0 104.2
Services 106.0 106.8 111.2 104.5 100.0 103.2
(a) 1998–99 = 100.0. Derived by dividing the estimates at current prices in tables 30.5 and 30.6 by the chain volume measures
in those tables. (b) Reference year for price and terms of trade indexes is 1998–99. (c) 1998–99 = 100.0. Derived by dividing
the IPDs for credits by the IPDs for debits.
Source: Balance of Payments and International Investment Position, Australia (5302.0).
International trade in services
In current price terms, net services for 1999–2000
recorded a deficit of $1.8b, a fall of $21m (1%) on
the deficit recorded in 1998–99. Services credits
increased by $2.1b (8%) to $28.3b, mainly due to
increases in personal travel services and in
miscellaneous business, professional and
technical services. Services debits increased by
$2.1b (8%) to $30.1b, mainly due to increases in
transportation, travel, communication services
and miscellaneous business, professional and
technical services. Table 30.8 provides details of
the international trade in services.
As shown in table 30.9, the main destinations for
services exports (credits) in 1998–99 (the latest
year available for regional data) were: United
States (17%), Japan (13%), United Kingdom
(11%), New Zealand (7%), Singapore (5%) and
Hong Kong (4%). Significant growth has been
recorded since 1993–94 in services exports to
each of these markets except Japan where growth
has been more modest overall, with strong
growth in the mid 1990s offset by falling trade
towards the end of the decade. The main source
countries for services debits in 1998–99, as shown
in table 30.10, were: United States (20%), United
Kingdom (12%), Japan (6%), Singapore (6%),
New Zealand (5%) and Hong Kong (4%).