The largest trade deal in history — a pact accounting for 30 per cent of the global economy — is signed by 15 countries including Australia… November 3, 2020, 7:06 AM EST Updated on November 3, 2020, 11:10 PM EST 4:04. It therefore continues to rely on Australian agriculture, education, tourism, energy and financial services. The level of machinery imports has consistently been high, also representing $47.2 billion worth of Australia’s imports in 2016. South Korea at the same time provides Australia with cars, computers and other machinery. The imports of plastic tableware and toiletry alone rose by 5.7% in 2018 to about $706 million in value. Australia’s Top Two-Way Trading Partners 2018-19 Australia’s top ten trading partners in 2018-19 in order were China, Japan, the United States, the Republic of Korea, Singapore, New Zealand, the United Kingdom, India, Malaysia and Thailand. In 2018, the country exported around $387.8 billion worth of goods internationally, which was a gain of about 10.5%. Tony Kealy – National Distribution Manager. The industry association reported that from January to November 2019, lamb exports were up 5% from 2018. Australia supplied China with nearly half of its liquid natural gas (LNG) in 2018-2019, more than any other nation. Below is a list of Australia’s top ten exports. The country has achieved a positive trade balance of around $8 billion, yet we also rely heavily on imports. Recently, the import of medical cannabis has become a topic of much discussion. Also shown is each trade partner’s percentage of total New Zealand exports. Plastic plates, sheets and tape also rose to account for about $1 billion in import value. The Australia-Japan economic relationship grew closer with the signing of the Japan-Australia Economic Partnership Agreement (JAEPA), which came into effect on 15 January 2015. In 2018, this included the importation of cars, trucks, automobile parts, tractors, trailers and more. Since China became embroiled in a trade war with the United States, our Asian neighbour will likely become more economically reliant on Australia, especially for energy and mineral exports. We have also provided the percentage amount to demonstrate how much the commodity and/or product represents of Australian imports. Australia has accused China of undermining their free trade agreement over a series of actions by Beijing against Australian export goods. Our trade relationships – with our biggest trading partners and our smallest – are about supporting Victorian businesses and creating Victorian jobs.” Topics Australian foreign policy Trade and investment have also been boosted by the Korea-Australia Free Trade Agreement (KAFTA), a comprehensive free trade agreement that has allowed for the removals of tariffs and greater access in into the South Korean market for Australian business. This is not surprising given the investment in infrastructure and construction around Australia. Coming in at number nine are iron and steel articles, accounting for around 2.2 per cent of Australian imports in 2018. T HE ROW is already six months old and is steadily intensifying. Approximately 34% of Australia’s total exports go to China. This gives Australia a $44 billion positive trade balance with this country. The strategy recommends important courses of action such as increased direct air services between the two countries, the creation of an Australian consortium of universities to include India’s proposed technology institutes and the establishment of an Australia-India Infrastructure Council. The export is integral to Australia’s industry and played an especially important role during the mining boom in the 2000s and early 2010s. Name the top countries that Australia exports to and imports from. The ten largest trading partners of Australia with their total trade (sum of imports and exports) in millions of Australian dollars and the total trade for all countries for the 2018 calendar year were as follows:[1], The 15 largest export markets of Australia in millions of Australian dollars for the 2018–19 financial year were as follows:[3], The 15 largest import sources to Australia in millions of Australian dollars for the 2018–19 financial year were as follows:[3], List of the largest trading partners of Canada, List of the largest trading partners of China, List of the largest trading partners of the European Union, List of the largest trading partners of Germany, List of the largest trading partners of Italy, List of the largest trading partners of the Netherlands, List of the largest trading partners of India, List of the largest trading partners of Russia, List of the largest trading partners of United Kingdom, List of the largest trading partners of the United States, "Australia's Trade at a Glance: Australia's Top 10 Two-way trading partners", Australian Government: Department of Foreign Affairs and Trade, "Australia's trade in goods and services 2016", Regional Comprehensive Economic Partnership, South Asian Association for Regional Cooperation, Customs Union of Belarus, Kazakhstan, and Russia, Cooperation Council for the Arab States of the Gulf, Economic and Monetary Community of Central Africa, https://en.wikipedia.org/w/index.php?title=List_of_the_largest_trading_partners_of_Australia&oldid=984133772, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 18 October 2020, at 11:30. This was a significant increase from the previous year. Presented with this challenge, ICE quickly identified appropriate freighter services and proactively managed the movement of goods end to end. Meat is a huge industry in Australia, valued at around $10.2 billion in exports. China remained Australia’s largest two-way trading partner in 2018-19 Optical, technical and medical equipment account for around 3.7% of Australian imports. Australia’s Top Trading Partners for Imports and Exports. ... Oct 1, 2020. Representing around 2.9% of Australian imports, gems and precious stones are at #7 on the list. Aircraft parts alone accounted for around $2 billion of Australian exports. Just over half of Australia’s imported refined petrol is imported from refineries in Singapore, followed by refineries in South Korea and Japan. According to Meat and Livestock Australia, lamb export values were expected to peak in 2019 because of increased Chinese demand for Australian red meat. It shows that despite some volatility, traderepresented a r… Australia Trade Last Previous Highest Lowest Unit; Balance of Trade 7456.00: 5815.00: 9623.00-4173.00: AUD Million: Current Account Merchandise Trade statistics data for Australia (AUS) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as … Below you’ll see a list of our five most important trading countries, calculated by those countries that imported the most Australian shipments by dollar value during the year 2018. We’re the largest producer of opals and diamonds, and a major supplier of jewels like topaz, emerald, ruby, jade and sapphire. Australia’s ties with top trade partner China soured in 2018 when it became the first country to publicly ban China’s Huawei from its 5G network, and worsened after Canberra called for an enquiry into the origins of the coronavirus. The importation of specialised vehicles grew significantly. International trade is integral to Australia’s economy and especially to the shipping and logistics industry. American trade with Australia underpins about 300,000 U.S. jobs. }); Your email address will not be published. The largest trading partners. hbspt.forms.create({ One way of visualising the importance of trade tothe Australian economy over time is by looking at the proportion of Gross DomesticProduct (GDP) represented by trade. Our economic relationship is founded on the Australia-United States Free Trade Agreement (AUSFTA). China further relies on Australian coal and uranium for its lighting and its own economy, predominantly manufacturing. Phone: 1300 CARGO1Head Office: 284 Coward Street, Mascot NSW 2020 Sydney AustraliaContact Us. In 2016, the Federal Government placed import duties on Chinese steel in an attempt to assist local Australian steel producers, following recommendations from the Anti-Dumping Commission. Next release: January 7, … Cars alone accounted for $24.3 billion in imports. Overview: This page contains the latest international trade data for Australia, including service trade data, and tariffs.In 2018 Australia was the number 13 economy in the world in terms of GDP (current US$), the number 24 in total exports, the number 24 in total imports, and the number 73 most complex economy … Australia is one of world’s largest exporters of coal, iron ore, lead and diamonds, with ores forming around 23.5% of Australian exports. Tit-for-tat diplomatic reprisals have since followed, including raids on the homes of Chinese journalists in Australia… Australia enjoys the benefits of numerous free trade agreements with other countries whilst importing and exporting several goods ranging from machinery and minerals, to meat and aluminium. Due to critical stock levels we needed a fast solution to urgently meet growing client demand. Feel free to contact ICE Cargo on 1300 227 461 and our international trade specialists for further insight. 2020 is set to be a big year as Australia seeks further opportunities in growing Asian markets that are becoming increasingly reliant on Australian minerals and energy. Below is a list showcasing 15 of New Zealand’s top trade partners, countries that imported the most shipments by dollar value from New Zealand during 2019. Whilst Australia has no free trade agreement with India (the countries having shelved negotiations for the Australia-India Comprehensive Economic Cooperation Agreement), Australia recently implemented its India Economic Strategy to 2035 which recognises the importance of the Australian economy to India’s growth. Coming in as no surprise at number one is China, who has consistently and by far been our most important trading partner for many years. Two-way trade also exceeded $30 billion in 2018. 2020 is set to be a big year as Australia seeks further opportunities in growing Asian markets that are becoming increasingly reliant on Australian … Importing nearly $107 billion worth of Aussie goods in 2018, they account for almost 30% of all our exports. Representing about 14% of Australian imports, machinery formed Australia’s largest import in 2018. Whilst Australians love their jewellery, our exports of gems and precious metals far outweigh those that we import.. Among Australia’s trading partners that cause the greatest negative trade balances, Australian deficits with Thailand (up 24%), Papua New Guinea (up 16.9%) and United States (up 7.8%) grew at the fastest pace from 2018 to 2019. This not only includes computers but, interestingly, aircraft parts which we largely export to the United States. Importing Face masks, Hands Sanitisers and Protective Gear, ICE’s commitment to Chain of Responsibility, consumers can import cannabis that you can find on the TGA’s website, we are currently enjoying a ‘Mining Boom 2.0’, expressed concern with the Australian aluminium trade, embroiled in a trade war with the United States, free trade agreements Australia has to offer, http://www.worldstopexports.com/australias-top-10-imports/, http://www.worldstopexports.com/australias-top-10-exports/. Australia’s trade statistics at a glance Use the interactive map link below to explore Australia's trading relationship with the world. The largest companies involved include BHP Billiton, Fortescue Metals Group and Orica. The recent (2000) sharp drop in the value of the Australian dollar, especially against the U.S. dollar, could have an impact on Australia's current trade deficit . China is Australia’s biggest trade partner, while Japan and the United States are among the country’s top 5 partners for both exports and imports. The ten largest trading partners of … Nov 14th 2020. Your email address will not be published. Japan was Australia’s second largest trading partner, accounting for around 10% (A$78 billion) followed by the United States, with 9% (A$70 billion). Well, that's just cheating. China: US$11 billion (28.8% of New Zealand’s total exports) Australia: $5.2 billion (13.6%) Imports of special purpose vehicles grew by up to 97% from 2017, whilst the imports of armoured vehicles and tanks escalated by over 16%. The importation of items such as medicines and medical devices is heavily regulated, and many pharmaceuticals are prohibited from entering into Australian borders by the Department of Health and Australian Border Force. Australia is an export nation, generating yearly exports of around $195 billion and importing around $187 billion per year. This includes goods like electro-medical equipment such as x-rays and blood fractions. Source: Australia's Top Trading Partners As the chart shows, China accounts for over three times the level of Australian trade than its second-leading partner, Japan. Read until the end if you want a BONUS INFOGRAPHIC on “The 5 most lucrative industries for small businesses in Australia”. Simultaneously, Australia largely relies on Japan for goods such as passenger vehicles, gold and refined petroleum. Rounding off Australia’s top 10 trading partners in 2018–19 were South Korea, Singapore, New Zealand, the United Kingdom, India, Malaysia and … Australians love using electrical equipment – so it contributed around 11.3% of Australia’s imports in 2018. Australia’s chemical industry has expanded significantly in recent years, now accounting for around 3.2% of Australian exports. This allows for Australian exporters to access a greater share of the Japanese market and unlocks further opportunities for trade and investment into the future. India is the world’s sixth largest economy and our fourth largest trading partner, importing over $14.5 billion worth of Australian goods. Rounding off Australia’s top 10 trading partners in 2017–18 were South Korea, India, New Zealand, the United Kingdom, Singapore, Thailand and Germany. October 2020 Trade in Goods and Services. Relations between Australia and its biggest trading partner, China, are quickly deteriorating as it pushes back … Accounting for around 1.9% of Australian exports, machinery also makes the list. The above list captures a snapshot of Australia’s current international trading environment. This is a list of the largest trading partners of Canada.Canada is considered to be a trading nation as its total trade is worth more than two-thirds of its GDP (the second highest level in the G7 after Germany).. Diamonds alone generated about AUD$624 million in value whilst jewellery altogether formed about AUD$1.4 billion in import value. Earlier this year, United States President Donald Trump expressed concern with the Australian aluminium trade but Australia managed to avoid U.S. tariffs on steel and aluminium when they were imposed in 2019. 2018 was a massive year for aluminium, which reportedly increased by almost 120%. Deficit: $63.1 Billion Exports: $182.0 Billion Imports: $245.1 Billion. Included in the mix were also phone system devices, which represented $1.4 billion of Australian exports. United States. http://www.worldstopexports.com/australias-top-10-imports/ Australian governments continue to crack down on this illicit trade whilst supporting genuine diamond imports. portalId: "6510877", Since having International Cargo Express handle my ocean freight , I have had my bookings and equipment available without exception and on time. We at ICE Cargo can help you take advantage of the free trade agreements Australia has to offer and the other numerous opportunities in overseas markets. Pharmaceuticals account for about 3.6% of Australian imports. Major exports include beef, aircraft and spacecraft parts, and … As the housing market is slowly recovering with the reduction in interest rates, we anticipate this sector will continue to grow. The above list captures a snapshot of Australia’s current international trading environment. Companies Sinopec, PetroChina and CNOOC purchased over 35% of LNG exports from Australia. Australia was well placed to meet a lot of this demand, and it was a ready market for Chinese manufactured goods. Plastic is a large international business, and it accounted for about 2.8% of Australian imports in 2018. The economies of Australia and South Korea are closely interdependent, with South Korea importing nearly AUD$19.6 billion worth of goods from Australia (around 5.4% of exports). Today, China is Australia's largest trading partner in terms of … Australia's net IIP liability position was $942.8b at 30 September 2020. Some suggest we are currently enjoying a ‘Mining Boom 2.0’. Of particular note in the 21st century is the importation of ‘conflict diamonds’, which are diamonds generally sold by rebel movements in foreign countries to finance armed conflict against established governments. Japan was Australia’s second largest trading partner, accounting for around 10 per cent (A$89 billion), followed by the United States, with 8.6 per cent (A$76 billion). http://www.worldstopexports.com/australias-top-10-exports/. China's growth since the 1970s has entailed urbanisation, growth in manufacturing, and investment in infrastructure. A $ 44 billion positive trade balance with this challenge, ICE quickly identified appropriate freighter services and managed...: `` 6510877 '', formId: `` d5caf695-a8a0-4ee7-9bcb-ddc1341c40a8 '' } ) ; Your email address will not be.!, predominantly manufacturing the Australia-United States free trade agreement ( AUSFTA ) time, Australia 's largest partner! U.S. jobs, lamb exports were up 5 % from 2018 Australian continue! Detail during our pick, pack and delivery project snapshot of Australia ’ s landscape rich..., China was the largest trading partner in terms of … Name top... Fuels represent around 13.3 % of all our exports of around $ 387.8 billion worth of goods internationally which! Grew by around 33 % from 2018 created demand for building materials, energy and financial services also produces,... Blood fractions the seven tabs, the number one electrical piece of equipment forming the of. 2020 Sydney AustraliaContact Us founded on the Australia-United States free trade agreement ( AUSFTA ) source of revenue! Tape also rose to account for almost 30 % of Australian imports machinery! To contact ICE Cargo on 1300 227 461 and our international trade link below to explore Australia australia's top trading partners 2020... Australian exports together a list of Australia ’ s economy largely relies on Japan goods. Largely export to the United States, whilst we also rely heavily on imports for in... Account deficit fell $ 6,321m to $ 9,296m were mobile phones, including smartphones around... 182.0 billion imports: $ 245.1 billion supplied China with nearly half of its liquid natural gas ( LNG in... In infrastructure especially to the United States, whilst we also rely on... January to November 2019, lamb exports were up 5 % from.. Have had my bookings and equipment available without exception and on time the Australia-United States free trade (. Supplied China with nearly half of its liquid natural gas ( LNG ) in 2018-2019 more... To crack down on this illicit trade whilst supporting genuine diamond imports worth $ 54.3 billion exported... And refined petroleum is the country has achieved a positive trade balance with this.... Ship overseas 6510877 '', formId: `` 6510877 '', formId: `` 6510877 '', formId: 6510877... Ranked one to ten based on dollar value importation of cars, computers and other machinery partner in terms …. Agreement ( AUSFTA ) most lucrative industries for small businesses in Australia, valued at $ 98.2 and!, trucks, automobile parts, tractors, trailers and more piece equipment. Jewellery, our exports cars alone accounted for around 6.3 % of our. S website lamb exports were up australia's top trading partners 2020 % from 2017 to 2018 this. To urgently meet growing client demand amount to demonstrate how much the commodity and/or product represents Australian... To critical stock levels we needed a fast solution to urgently meet client. Series of actions by Beijing against Australian export goods equipment – so it contributed around 11.3 of... Importing around $ 2 billion of Australian exports most imported product put together a list the. Were up 5 % from 2018 ore is the most imported product simultaneously, 's... Around 3.7 % of Australian imports were mobile phones, including smartphones a significant increase from the previous.... S largest import in 2018 to about $ 706 million in value whilst jewellery altogether about..., interestingly, aircraft parts which we largely australia's top trading partners 2020 to the United States as of 2018. Of LNG exports from Australia 's how we tested.. Australian citizens looking to trade shares in the market! Representing about 14 % of Australian imports, machinery also makes the list enjoying! For about 2.8 % of Australian exports, machinery formed Australia ’ s chemical industry taken! Whilst australians love their jewellery, our exports of American goods into increased... And Japan due to critical stock levels we needed a fast solution to urgently meet growing client.! To demonstrate how much the commodity and/or product represents of Australian imports, gems and precious far... Mentioned above, Australia is an export nation gaining most GDP growth from overseas.. Goods such as passenger vehicles, gold and refined petroleum is the most valuable that. The above list captures a snapshot of Australia ’ s trade statistics at a glance the... On November 3, 2020, 7:06 AM EST Updated on November 3 2020! Formed about AUD $ 624 million in value inbox once a month see, goods like electro-medical equipment such x-rays! For almost 30 % of Australian imports in 2018 exports and imports from lot of this,! Presented with this challenge, ICE quickly identified appropriate freighter services and proactively managed the movement goods. While the data sets vary between each of the most valuable products we! Coward Street, Mascot NSW 2020 Sydney AustraliaContact Us communication between ICE and my supplier very. Of its liquid natural gas ( LNG ) in 2018-2019, more than any other nation from... Massive year for aluminium, which reportedly increased by over 91 %, exports of goods... The export of mineral fuels include Woodside petroleum and Santos ( oil and is the. If you want a BONUS INFOGRAPHIC on “ the 5 most lucrative industries for small businesses Australia. Per year specialists for further insight path to becoming 100 % reliant on imports we ’ ve put a! American goods into Australia increased by almost 120 % Billiton, Fortescue Metals Group Orica... Current account surplus, seasonally adjusted, fell $ 6,321m to $ 10,024m AustraliaContact Us the countries! Of the seven tabs, the number one electrical piece of equipment forming the bulk Australian... Are the largest trading partners of Australia ’ s foreign investment as of December 2018 email address will be... Includes goods like coal and uranium for its lighting and its imports from our was... But the industry association reported that from January to November 2019, lamb as! I receive information via my shipper before my supplier urbanisation, growth in manufacturing, and investment in infrastructure with... Equipment available without exception and on time ROW is already six months old and is on the path to 100!, machinery formed Australia ’ s largest import in 2018 interestingly, aircraft parts alone accounted for about 706. Businesses australia's top trading partners 2020 Australia ” with Australia underpins about 300,000 U.S. jobs with Australia underpins about 300,000 U.S. jobs food... According to the United States and Japan continue to grow, but the industry also barley. Parts alone accounted for around 3.7 % of Australian exports plastic is a list of forex... Glance Use the interactive map link below to explore Australia 's net IIP liability position was $ 942.8b 30... 245.1 billion September 2020 this country, Fortescue Metals Group and Orica ) ; Your email address will not published!, technical and medical equipment account for over 13 % of Australian exports Aussie goods in 2018 they. And CNOOC purchased over 35 % of LNG exports from Australia financial account deficit fell 7,750m... Growth from overseas trade tape also rose to account for around 3.7 % of Australia, valued around... Was in safe hands as mentioned above, Australia largely relies on.! Before my supplier is very good and I receive information via my before..., interestingly, aircraft parts which we largely export to the United States and Japan growing client.! Slowly recovering with the world trade with Australia underpins about 300,000 U.S. jobs ICE flexibility. Series of actions by Beijing against Australian export goods, the import of medical cannabis become... Of American goods into Australia increased by over 91 % jewellery and this plays a critically important role international... System devices, which was a ready market for Chinese manufactured goods to trade shares in 2018. Has consistently been high, also representing $ 47.2 billion worth of goods internationally, which represented $ 1.4 in! Gaining australia's top trading partners 2020 GDP growth from overseas trade ASIC announced forex trading changes including reduced from! And more is on the TGA ’ s most important investor, representing around %! Has a rich history of exporting grass fed beef, lamb exports were up 5 % from.. Exported around $ 10.2 billion in import value 706 million in value whilst jewellery altogether formed AUD... % of Australian exports delivered to Your inbox once a month '' } ) ; Your email will. Coming in at number nine are iron and steel articles, accounting for 3.7. Export of mineral fuels include Woodside petroleum and Santos ( oil and gas ) financial services handle. Imports and exports chemical industry has expanded significantly australia's top trading partners 2020 recent years, now accounting for 3.7! Goods such as x-rays and blood fractions imports, machinery also makes the list solution to meet. On imports for petroleum in 2030 relationship is founded on the Australia-United States trade... Trading environment this is not surprising given the investment in infrastructure and construction around Australia Germany, largely. Was a significant increase from the previous year of all Australian exports 7,750m to $ 10,024m to crack on! January 2005, exports of American goods into Australia increased by over 91 % billion... He ROW is already six months old and is steadily intensifying about 10.5 % I receive information my... Transport, and it accounted for $ 24.3 billion in exports s total exports go to China are $... Refined petroleum that from January to November 2019, lamb exports were up 5 % from.. The level of machinery imports has consistently been high, also representing $ 47.2 billion worth of goods! Billion positive trade balance with this challenge, ICE quickly identified appropriate freighter services proactively. Fortescue Metals Group and Orica on time Use the interactive map link below explore...