As of December 2020, Australia had a positive trade balance of $6,785 million (seasonally adjusted). Refer to the DFAT website (. (d) Special Administrative Region of China. Over 80 actions focussed on achieving five macro-level outcomes form the core of the Action Plan. Australia also ranks 9 th in the world for U.S. exports of processed foods, totaling US$919 million in 2021, which was down 4% from that of 2020. The government of Australia has, for decades, put in place policies that will stimulate its economy and ensure growth for businesses. At the end of 2019 two-way Australian investment of all types amounted to $6.8 trillion dollars. Australias trade balance is the difference between what we export and what we import. Current job openings: This page displays a table with Australia Exports By Category in U.S. dollars, according to the United Nations COMTRADE database on international trade. However, the levels of Hong Kong (SAR of China) and Chinese investment in Australia have grown significantly over the past decade. AUSTRALIA'S full 2021 calendar year beef exports have fallen well short of 900,000 tonnes - their lowest level in at least 36 years - as the accumulated effect of herd rebuilding after earlier continental scale drought took full effect. For example, nearly all health services provided abroad in 2018-19 were delivered via foreign affiliates: $6.4 billion in affiliates sales abroad compared with just $34 million in exports identified in the annual balance-of-payments figures. China was the leading export . Telecommunications, computer & information. Source: Tourism Research Australia: International Visitor Survey. Australia exported a. (b) Excludes imports of large aircraft which are treated confidentially by the ABS. This bolstered the $60 million already assigned to the program. Ph: 02 6261 1111, Northern Territory office Further, we are investing $72.7 million to help Australian farming, forestry and fishing exporters to expand and diversify their export markets in 2021, as part of the Agri-Business Expansion Initiative (ABEI). Note -. (b) Includes loans, trade credit, currency, deposits and reserve assets. Australia's biggest export products by value in 2020 were iron, coal, petroleum gases, gold and aluminum.Given Australia's population of 25.7 million people, its total $254.3 billion in 2020 exported products translates to roughly $9,900 for every resident in the largest country in the Oceania continent. Darwin Australias top ten trading partners in order were China, the United States, Japan, the Republic of Korea, United Kingdom, Singapore, New Zealand, India, Germany and Malaysia. Australia hosted the G20 in 2014. The following is a list of the top 20 exports of Australia in 2017-18, as reported by its Department of Foreign Affairs and Trade. (b) May exclude selected confidential import commodities. FDI has given the Australian economy depth and resilience, it has stimulated growth, and it has added to prosperity by enabling jobs, services and opportunities for Australians. Last Tuesday's federal budget includes plans to raise $3.7 billion from an extension of the ATO's tax avoidance and black economy taskforces, as well as the personal income tax compliance program . Advanced users can use our Python/R/Matlab packages. Services exports benefitted from strong demand from overseas students seeking a high-quality education and successful tourism campaigns attracting increasing numbers of international visitors. The Action Plan will increase transparency of government initiatives and actions that are focused on enhancing services exports. Mode 3: Commercial Presence - where the services supplier sets up operations in another country to provide services there. Refer to the DFAT website (. The current account surplus, seasonally adjusted, rose $15,550m to $18,324m. (c) Mainly of Lead, Zinc and Manganese ores & concentrates. For Example, fly-in, fly-out mine workers and fruit pickers or a consultant, an architect, or health expert temporarily travelling overseas to provide services. (a) All data is on a balance of payments basis, except for goods by country which are on a recorded trade basis. Significantly, it is likely. The OECD is the worlds premier economic policy development and standard setting body. In 2021, Australia will negotiate new free trade agreements, including separate negotiations with the United Kingdom and European Union. Foreign Direct investment is where an investor acquires 10 per cent or more ownership in a business or asset. At the same time, we are working to strengthen global trade in services rules. They include statistics on the volume, value, and average value of packaged wine exports by colour and wine style, price point and destination for the past 12 months compared with the previous equivalent 12-month . The total value of merchandise exports reached a record high of $382b. Australia exports for 2020 was $318.47B, a 5.34% decline from 2019. [6] At the height of the mining boom in 2009-10, the total value-added of the mining industry was 8.4% of GDP. We also work with other countries through multilateral organisations to help find recovery solutions and strengthen the global rules-based trading system. Australian manufacturing businesses employ around 900,000 Australians. Year ended June 2019. Australians expect investment in Australia to be on our terms. This statistic shows the value of exports of goods from Australia from 2011 to 2021. Barton ACT 0221 Australia, Phone: +61 2 6261 1111 China is our ninth largest foreign investor, with 2.0 per cent of the total. These reforms have directly benefitted Australian businesses and consumers and added to the regions prosperity. Oil and Gas Extraction in Australia $57.7B 3. Foreign investment plays an important role in the Australian economy by promoting economic activity. [37] Examples include consultancies, tele-health, distance training or providing legal advice via the telephone. Taxes less subsidies on products and statistical discrepancy. On a gross exports basis, which is the more common statistical practice, these values are not separately identified. We can provide access to detailed, customisable data on selected topics. Sydney (DFAT switchboard) During 2019 demand for Australian education services was strong with 758,154 international student enrolments in Australian education institutions. The Australian economy is dominated by its service sector, which in 2017 comprised 62.7% of the GDP and employed 78.8% of the labour force. We are also identifying and seeking to address measures introduced by other countries that create unnecessary trade barriers for Australian traders, including COVID-19 measures. Former Minister for Trade, Tourism and Investment. GVCs provide scope for firms to enter markets by specialising in niche intermediate activities within a chain and allow suppliers to upgrade production into higher-value segments of their industries. Hong Kong (38.3%) and China (28.3%) are key export destinations for Australia's . This will make it stronger and more relevant to todays trade environment. Doing business; Visiting; Oman. Australia exported $716 million of dairy products to China in 2020, accounting for 28% of total Australian dairy exports. Despite disruptions to supply chains due to COVID-19, including border closures and other responses by Australia and our trading partners, exports remained steady. (a) The majority of total investment from Belgium is portfolio investment liabilities in the form of debt securities (Belgium hosts a major clearing house and despository for euro-denominated bonds and other securities, Euroclear). Metalliferous ores increased to a record high of $ 20,494 million, and accounted for almost half of Australia's total export value in June. (c) Special Administrative Region of China. Last published date: 2022-07-19. Products are typically delivered as cloud-based services. To help Australians avoid difficulties overseas, we maintain travel advisories for more than 170 destinations. Goods and services debits (imports) rose$207m (0.4%)driven by Fuels and lubricants. These exports alone rake in $48.2 billion, $47 billion, $29.1 billion, and $20.3 billion, respectively. According to Meat and Livestock Australia, lamb export values were expected to peak in 2019 because of increased Chinese demand for Australian red meat. On the domestic market, Australian wine is estimated to account for 474 million litres, making up 82% of the total sales volume in 2020-21. Based on ABS catalgoue 5368.0 and ABS special data services. Australias exports of iron ore and concentrates, coal and natural gas remained as our top three exports overall. The 10 Biggest Exporting Industries in Australia Industry Exports for 2022 1. (d) Total imports on a balance of payments basis. Austrade export services to Chile to China to Indonesia to Japan (grains and pulses) to Kazakhstan to the Philippines to Saudi Arabia to the United States to Vietnam Automotive to China to Indonesia to Thailand Aerospace and Aviation to China to Korea to Japan to Mexico to New Zealand to Indonesia to Poland to Singapore to Thailand The Government stepped up to support businesses to manage the economic impacts of COVID-19 through JobKeeper, the Export Market Development Grants (EMDG) program, the International Freight Assistance Mechanism (IFAM) and tourism industry support, among other support measures. This data is the first time since 2002-03 that the ABS has measured the overseas economic activity of Australias 5,176 majority-owned foreign affiliates (i.e. Mode 2: Consumption Abroad where the supplier provides services to customers who cross the border to consume them. Services and technology are embedded in all of Australias export sectors. With one in five jobs in Australia being trade-related, maintaining and expanding opportunities for Australian exporters is vital to Australias recovery. This is after taking account of hedging through the use of derivative contracts. Where and how Australia provides emergency assistance. Liquefied Natural Gas Production in Australia $55.7B 4. Australian businesses invest huge amounts of money in other economies. Australia exported 693 million litres of wine in 2020-21, valued at $2.6 billion (FOB). Queensland 17.7%, New South Wales 31.1%, Victoria 22.9%, South Australia 5.7%, Western Australia 17.5%, Tasmania 1.7%. Ph: 03 6238 4099, Victoria state office Australian Livestock Exporters' Council (ALEC) | 3,603 followers on LinkedIn. The balance on trade in services was a surplus of $4,253m. ALEC is a member-based, peak industry body representing Australia's livestock export sector. Of course, the country also ships other noteworthy items including food, wine, and cars. Australia has a rich history of exporting grass-fed beef, lamb button as well as live cattle and sheep. Australia is one of 164 members of the World Trade Organization (WTO), the body that is responsible for negotiating global trade rules and resolving trade disputes. (b) Ranked on level of total investment in Australia. Australia also supports global cooperation, policies and dialogue to facilitate trade and investment through our membership of a range of other bodies, including the World Intellectual Organization and World Customs Organization. Due to the USA upgrading their electronic certification system the Department has been . 2020 was a challenging year. Australian investment abroad rose $275.3b to $3,326.7b. Total value fell from $421.4 billion in 2018-2019 to $397.9 billion in 2019-2020. Australia Exports By Category Value Year; Ores slag and ash: $130.89B 2021 Mineral fuels, oils, distillation products: $94.76B 2021 Pearls, precious stones, metals, coins: $18.67B 2021 Meat and edible meat offal Services trade is on a balance of payments basis. The balance on trade in services was a surplus of $13,674m. The Australian Passport Office and its agents are committed to providing a secure, efficient and responsive passport service for Australia. Goods and services credits (exports) rose$3,987m (7.0%)driven by Other mineral fuels. China remains our major two-way trading partner. Jump to navigation Jump to search. Asia continues to dominate Australias two-way trade flows with 65.2 per cent of the market. The graph below shows the variation in Australias monthly trade balance over the past few years and reflects the minimal impact of the COVID-19 Pandemic on trade during 2020. The effect was intensified further by good to excellent seasonal conditions . Australia is the fifth-largest exporter of gold in the world and has a 5.28% share of an annual export market that is worth $305 billion. Only the supplier moves but by establishing an on-the-ground presence in the consumer market as a locally established affiliate, subsidiary, or representative office. Japan, Republic of Korea and ASEAN also offer significant market opportunities for Australian businesses especially as these economies rebound from COVID-19. Aluminum: $4.7 billion (1.4%) Copper: $3.9 billion (1.1%) Electrical machinery, equipment: $3.7 billion (1.1%) Australia's top 10 exports accounted for well over four-fifths (83.7%) of the overall value of its global shipments. Australia-U.S. Free Trade Agreement (AUSFTA) has significantly stimulated U.S.-Australian trade and investment since its entry into force in 2005. Personal travel services received by Australians abroad was the largest hit with a decline of 28.1 per cent. Australias economic and health response to COVID-19 has been among the best in the world. Real household consumption rose by 5.7% in 2021-22, led by spending on housing, utilities and other fuels. Services sector. The industry employs around 1.1 million people, with around half a million people employed in the export sector and around 620,000 employed in the import sector. List of exports of Australia. Imports of goods in June 2021 increased $2,122m (8%) to $28,015m. Ph: 08 8982 4199, Queensland state office Industry Share of Output key sectors. Businesses can report export barriers at tradebarriers.gov.au. Iron Ore Mining in Australia $132.0B 2. The major export. (b) Derived from annual movements in original data. Australian companies have made a major impact on the business-to-business subsector. (a) Foreign investment in Australia: level of investment (stocks) as at 31 December 2018. Cereals was the fastest grower among the top 10 export categories, up by 164.1% since 2020. Mining 14.6%, Finance 7.6%, Health and Education 13.0%, Manufacturing 5.8%, Construction 7.3%. Continue Reading. The Australian Government ensures that investments are not contrary to the national interest. Land transport and electricity services used in the mining and export of resources are reflected in trade on a value added basis. (c) Total manufactures exports on a balance of payments basis. Thermal and metallurgical coal was Australia's second largest export at 15% share of total export value (the largest was iron ore at 15.2%), liquified natural gas (LNG) 7.7% and crude oil 1.6% 4. Supporting organisations in developing countries by matching them with skilled Australians. Australia is a stable, democratic and culturally diverse nation with a highly skilled workforce and one of the strongest performing economies in the world. According to the Export Council of Australia, technology is already our fourth-largest export sector, worth A$8 billion in 2018. Documents from the Australian government . Measures include a Tourism Aviation Network Support program that will offer 800,000 half price domestic airfares to Australian travellers, support for Australias international passenger airlines to maintain more than 8,000 core international aviation jobs, and support for aviation services such as airport security screening, training and certification. With the economy recovering further from disruptions caused by the Covid-19, Australia's imports of goods and services rose 12% to a record high of AUD 41.31 billion in just February 2021. Australia takes an active and ambitious multilateral, regional and bilateral Australia will is an outward-looking, open, and sovereign trading nation. Gold and Other Non-Ferrous Metal Processing in Australia $27.9B 6. Through a package of measures and reforms implemented in January 2021, we have strengthened our foreign investment regime to protect national security, streamline non-sensitive investments, and ensure investors comply with conditions they have signed up to. Pharmaceuticals products (excl medicaments). For example, branch offices established overseas by banks, hotels, construction companies, legal firms, etc.). Fossil fuels exports in 2017-18 were 24.3% of Australia's total export value 4. Brisbane ABN: 47 065 634 525, Australian Safeguards and Non-proliferation Office (ASNO), Non-proliferation, disarmament and arms control, Association of Southeast Asian Nations (ASEAN), Preventing Sexual Exploitation, Abuse and Harassment, How to get free trade agreement tariff cuts, Look up FTA tariffs and services market access - DFAT FTA Portal, Discussion paper on potential modernisation DFAT FTA Portal, Australia's bilateral investment treaties, Australia-UAE Comprehensive Economic Partnership Agreement, Trade and investment data, information and publications, Trade and investment publications and articles, The importance of services trade to Australia, Australia-Singapore Digital Economy Agreement, List of Australian accredited non-government organisations (NGOs), Australian Cultural Diplomacy Grants Program, Council for Australian-Arab Relations (CAAR), Council on Australia Latin America Relations (COALAR), Visas for Australians travelling overseas, Australias economic activities in COVID-19 compared to other economies, Australias key economic indicators 2017-18 to 2019-20, Australias trade and investment framework, Outbound investment where does Australia invest, Department of Foreign affairs and trade Australian office network, www.dfat.gov.au/trade/resources/trade-statistics/Pages/australias-trade-balance, www.dfat.gov.au/trade/resources/trade-statistics/Pages/trade-time-seriesdata, http://dfat.gov.au/about-us/publications/trade-investment/Pages/dfat-adjustments-to-abs-official-trade-data. (b) Excludes confidential items of trade except sugar. The average value for Australia during that period was 16.91 percent with a minimum of 11.93 percent in 1969 and a maximum of 24.17 percent in 2019. Seafood Industry Australia (SIA), the national peak-body representing the Australian seafood industry, has released the Australian Seafood Industry's first whole-of-industry Export Market Strategic Plan as part of industry's biennial conference,. We promote our regional trade and investment interests through our membership of the Asia-Pacific Economic Cooperation (APEC) forum. The health and safety of all Australians is our Governments number one priority. The Regional Comprehensive Economic Partnership is a modern and comprehensive FTA covering trade in goods, trade in services, investment, economic and technical cooperation. It is calculated by subtracting the value of the goods and services Australia buys from overseas from the value of the goods and services we sell to other countries. (b) Ranked on total Australian investment abroad. Services credits (exports)declined $12,715m (18%) to $59,104m. Base metals not specified elsewhere, cermets. Ph: 03 9221 5444, Western Australia state office In September 2020, the Australian Bureau of Statistics (ABS) released a new dataset: Australian Outward Foreign Affiliates Trade 2018-19. Open and connected two-way supply chains continue to be supported with $110 million allocated to IFAM to keep vital trade links operating during the pandemic. Founded on a shared commitment to liberal democratic values, human rights and a rules-based international order, the OECD is a trusted and credible source of data, analysis and policy advice.The Hon Mathias Cormann commences as the OECD Secretary-General on 1 June 2021, the first time an Australian will lead the organisation a significant opportunity to strengthen the links between OECD members and the Indo-Pacific region. These support measures come on top of the Government s work to expand and diversify our FTAs, which now includes 15 agreements and gives Australian exports preferred access to more than two billion consumers. Top U.S. processed food exports to Australia included: Food Preparations Processed/Prepared Dairy Products Alcoholic Beverages Dog & Cat Food Chocolate & Confectionery Canned, Dried and Frozen Fruit Trade and investment at a glance 2021 [PDF 4.8 MB]. (b) Passenger services includes air transport-related agency fees & commissions. Perth Between 2009 and 2019, our investments to major Asian economies (China, Hong Kong (SAR of China), India, Japan, Republic of Korea, Taiwan and all ASEAN members) has increased from $120 billion to $472 billion. Australia's dairy products are a popular export item in China. China is the largest source of imports of auto parts followed by the U.S, Japan, Thailand, Germany, and Korea. Foreign investment in Australia rose $92.3b to $4,136.1b. Sales of non-rural goods rose by 2.1 percent to AUD 40.88 billion, boosted by demand for coal, coke and briquettes (2.9%), other mineral fuels (3.1%), machinery (7.4%), other manufactures (13.2%), and other non-rural (11.2%). 62% of all exporters were small exporters. Australia's main export is iron ore, followed by their other most valuables exports coal, gold, and petroleum. Whilst iron ore recorded an increase of 32.7 per cent, coal and natural gas declined 21.5 per cent and 4.4 per cent respectively. Theseasonally adjusted balance on goods and services surplus increased $3,780m in September. Businesses with foreign investment generated around 40 per cent of Australias total exports, worth around $132 billion. Total foreign investment includes all types of investment: direct, portfolio, financial derivatives, reserve assets and other investment. The United States and United Kingdom are the biggest investors in Australia, followed by Belgium, Japan and Hong Kong (SAR of China). The Australian Government will continue to expand and strengthen our network of free trade agreements. (b) Derived from original data on an annual average. Fax: +61 2 6261 3111 API users can feed a custom application. (b) Excludes confidential items of trade. Get in touch with us now. Standard users can export data in a easy to use web interface or using an excel add-in. The top destination market was mainland China, accounting for 24% of the exports by value. In the year 2021, Australia imported a record $248.4 billion worth of goods from around the world. This temporary measure is focused on alleviating COVID-related supply chain pressures and reconnecting Australian companies with international markets. The United States and the United Kingdom were the top two destinations for Australian investment, followed by Japan and New Zealand as our third and fourth largest destinations. Select a country, economy or region to find embassies, country briefs, economic fact sheets, trade agreements, aid programs, information on sanctions and more. The Mining industry is the most notable exception, with Mining exporters most commonly located in Western Australia (43%) and Queensland (25%). As COVID-19 restrictions closed borders and disrupted established international supply chains , Australian businesses came up with solutions to meet demand. Source: www.dfat.gov.au/trade/resources/trade-statistics/Pages/australias-trade-balance. For most industries, New South Wales is the state where the highest number of merchandise exporters are located. In 2021, Australia's GDP per capita was US$60,575, the ninth highest among OECD economies2. APEC is the premier economic organisation in a region with 2.9 billion people that generates around 60 per cent of world GDP. Consumption rose by 5.7 % in 2021-22, led by spending on housing, utilities other... Further by good to excellent seasonal conditions for 2020 was $ 318.47B, a 5.34 % decline 2019. Overseas by banks, hotels, Construction companies, legal firms, etc )... Abroad where the services supplier sets up operations in another country to services. We promote our regional trade and investment since its entry into force in 2005 housing, utilities other... 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