Between November and December 2016, goods and services credits rose AUD 1.68 billion, or 5 percent, to AUD 32.63 billion. Exports rose for: Non-rural goods (AUD 1.25 billion, or 6 percent); non-monetary gold (AUD 0.32 billion, or 23 percent); rural goods (AUD 0.1 billion, or 3 percent); and net exports of goods under merchanting (AUD 1 million, or 20 percent). Services credits rose AUD 6 million.
Goods and services imports rose AUD 0.21 billion, or 1 percent, to AUD 29.12 billion. Imports rose for: Consumption goods (AUD 0.16 billion, or 2 percent); intermediate and other merchandise goods (AUD 0.13 billion, or 2 percent); and non-monetary gold (AUD 4 million, or 1 percent). By contrast, purchases of capital goods fell AUD 0.13 billion, or 2 percent. Services debits rose AUD 42 million, or 1 percent.
Considering 2016 full year, the trade deficit dropped 63 percent to AUD 13.6 billion from AUD 37.0 billion in 2015, as goods and services credits increased AUD 13.3 billion, or 4 percent, while goods and services debits fell AUD 10.1 billion, or 3 percent.