Goods and Services June 2018 Revisions

#Goods and services trade by country: Year ended June 2018 – Updates to previously published figures The figures in this release are subject to revision when new data becomes available, and when methodology is improved to ensure the accuracy of our statistics. For Goods and services trade by country: Year ended June 2018, we made revisions to include both new and updated data. ##June 2018 annual revisions to services data Services data is revised in line with the balance of payments revisions cycle. This means that on a quarterly basis, we revise the previous quarter's published data. On an annual basis (in the June quarter each year), we introduce and publish revisions to multiple quarters. There is no specified time period for how far back revisions will apply. We assess each revision on a case-by-case basis to identify the magnitude and number of periods affected. Services data was revised as far back as the June 2013 quarter in the June 2018 revision cycle. For the year ended June 2018 release we made the following revisions, which affected previously published year-ended-in-quarter figures: • Updates to estimates for spending by international students. These revisions were applied from the June 2013 quarter – March 2018 quarter and were based on updated ratios of international students’ tuition fees to living costs derived from Education New Zealand’s Economic impact of export education report 2017/18. • Inclusion of additional cruise ship expenditure data. Cruise ship expenditure data (the money spent by cruise ship passengers visiting New Zealand) was first released by Stats NZ in December 2017 in Tourism satellite account: 2017. We have now updated Balance of Payments services data to reflect this new data and allow it to flow through the macro-economic accounts. These revisions were applied from the December 2014 quarter – March 18 quarter. Revisions to Personal travel exports Year ended June Previously published Education-related travel exports Revised Education-related travel exports Change to Education-related travel service exports Cruise ship expenditure (new data) Previously published Personal travel service exports Revised Personal travel service exports Total change to Personal travel exports NZ$(million) 2014 2,517 2,619 102 NA 8,588 8,691 103 2015 3,044 3,284 240 130 10,805 11,175 370 2016 3,472 3,822 349 115 12,595 13,059 464 2017 3,649 4,026 377 108 12,955 13,440 485 • Updated data collected from the International Trade in Services and Royalties Survey, quarterly transport surveys, and the Quarterly International Investment Survey insurance data. #Impact of the International Visitor Survey (IVS) Review 2018 Following the recent review; Changes recommended for International Visitor Survey, undertaken by Stats NZ, a number of changes were recommended to the IVS methodology. Two of the recommendations were introduced from the March 2018 quarter to improve the sample allocation and to reset the outlier detection level. As part of the Review a series of other recommendations were also made. The need for revisions will be assessed after the recommended improvements have been undertaken, when their combined effect is evident. en-NZ