In trend terms, the balance on goods and services was a surplus of $1,056m in May 2018, an increase of $83m on the surplus in April 2018.

In seasonally adjusted terms, the balance on goods and services was a surplus of $827m in May 2018, an increase of $355m on the surplus in April 2018.

In seasonally adjusted terms, goods and services credits rose $1,353m (4%) to $35,562m. Non-rural goods rose $938m (4%) and non-monetary gold rose $343m (22%). Rural goods fell $4m. Net exports of goods under merchanting remained steady at $4m. Services credits rose $75m (1%).