In trend terms, the balance on goods and services was a deficit of $1,885m in May 2016, a decrease of $290m (13%) on the deficit in April 2016.

In seasonally adjusted terms, the balance on goods and services was a deficit of $2,218m in May 2016, an increase of $433m (24%) on the deficit in April 2016.

In seasonally adjusted terms, goods and services credits rose $188m (1%) to $26,170m. Non-rural goods rose $420m (3%). Non-monetary gold fell $186m (10%) and rural goods fell $77m (2%). Net exports of goods under merchanting remained steady at $28m. Services credits rose $31m (1%).

In seasonally adjusted terms, goods and services debits rose $620m (2%) to $28,387m. Intermediate and other merchandise goods rose $385m (5%), capital goods rose $182m (4%) and non-monetary gold rose $124m (29%). Consumption goods fell $81m (1%). Services debits rose $10m.