2021 Enhancing the quality of Australia's international trade statistics

In October 2021, the ABS consulted with users of international trade statistics on priorities for enhancing the quality and breadth of data on  international services statistics, and on changes to content and timing of the monthly international trade publication.’Enhancing the quality of Australia’s international trade statistics’, outlined the planned and proposed changes to the international merchandise trade publication and the planned and proposed enhancements to services statistics.  

10 submissions were received, these came from across federal government, state government and industry. A summary of the feedback can be seen below.

Monthly merchandise trade publication options

Respondents were asked to comment on two publication options. See consultation papers for more information on the options.

Option 2 was the preferred publication, with over 80% of respondents choosing this preference. The main reason cited for option 2 as the preference was the inclusion of seasonally adjusted data.

Services enhancement projects

Respondents were asked to prioritise the projects (1 through to 4) which were aimed at enhancing the quality and breadth of international trade in services statistics. Those projects were:

• More frequent detailed services statistics;
• Statistics on characteristics of service traders;
• Monthly indicator statistics; and
• Other (to be specified).

More frequent detailed services statistics were rated as the highest priority. Respondents also noted a strong interest in more detailed multi-dimensional cross classified data. The second highest priority was statistics on characteristics of service traders, closely followed by monthly indicator statistics.

Additional feedback

In addition, while respondents recognised the need to change and create opportunities for enhancing the international trade in services statistics, they acknowledged that with the imminent reopening of international borders, access to the full suite of monthly international trade data was critical in the short term for informing policy and insights around the COVID-19 recovery.

Given the additional feedback on changes to the monthly trade publication, The ABS has decided, that in the short term, we will continue to produce the International Trade in Goods and Services, Australia publication in its current form, with no changes to timing or content. The ABS will look to revisit discussions with users on the original options proposed as part of this consultation through 2022. The feedback received on the publication options and services enhancement projects will be used to help inform these discussions.  

Of the services enhancements, the immediate focus will be to enhance the quarterly Survey of International Trade in Services, with a particular focus on moving the survey collection timing in line with the reference period. The priority and timing of other services enhancement projects (as outlined in the paper), is still being discussed, noting further enhancements may not be possible in the short term while the extended set of international trade data continue to be produced. More information on the service enhancement projects will be made available in 2022.