Approximately 18% of its total exports go to Japan and 7% of its imports originate there. Australia’s principal imports from the US include: cars ($2 billion), medical instruments ($913 million), packaged medicines ($912 million), telephones ($545 million), and computers ($543 million). In 2014, this country was considered the 21st largest export economy in the world. Looking forward, we estimate Imports in Australia to stand at 35500.00 in 12 months time. 2018. China is Australia's largest trading partner, and has invested in Australian mining companies. Trade Partners Homepage. When broken down, this makes Japan the second largest export partner and the third largest import partner. Figure 1 shows exports and imports on aBalance of Payments basis since 1959 and Australia’s trade balance over theperiod (the difference between Australian exports and imports in a quarter). This agreement was the first of its kind between Japan and a major agricultural exporting country. While the data sets vary between each of the seven tabs, the functionality remains the same. In addition, Australia went from a -$1.8 billion deficit trading with the UK in 2018 to a $5.4 billion surplus for 2019. Australia needs China more than China needs Australia, and playing with our trade … The numbers show that of Australia’s top 5 trading partners, China and the UK are the only two countries for which two-way trade has increased in each of the last three years. A complete list of Australia’s top 10 biggest trading partners can be found in the chart published below. MDD VerticaFare Tracking ID Dynamic Fare Tracking ID Histogram Fare Tracking ID Fares Strip Fare Tracking ID Boxever Tracking ID Boxever ML Tracking ID Homepage Fares Tracking ID Boxever Offers Tracking ID Header Checkin ID Manage Booking Checkin ID BPG Desktop ID BPG Mobile ID Complement Journey Link IID Search Results - Manage Booking IID New … Contents. The two-way trade between these countries was valued at $60.4 billion in 2014. China, Japan, the United States and the Republic of Korea … The economy of Australia is the 12th largest economy in the world by nominal gross domestic product (GDP), which in 2015 was $1.62 trillion. Over three-quarters (77.9%) of Austrian exports in 2019 were delivered to the above 15 trade partners. The data shows who Australia’s biggest trading partners are and how much their business is worth to the economy. A dose of economic reality: Australia without China is a smaller, poorer place. Until the 1960s, Britain and the United States were Australia's main trading partners. Japan is listed as the second largest trade partner of Australia. Approximately 4.1% of its total exports go to the US and 11% of its imports originate there. Australia's relations with its biggest trading partner are at their lowest point in decades. In return, approximately 21% of the imports that Australia receives originate in China. The largest percentage of these exports includes the following products: iron ore ($46 billion), coal briquettes ($7.74 billion), gold ($6.34 billion), crude petroleum ($1.89 billion), and refined copper ($1.88 billion). Post was not sent - check your email addresses! Our founding director, Leon Wolman, has had over 40 years experience in the domestic and export wine industry markets. In 2017, close to a quarter of Australia’s two-way trade was with China. The largest percentage of these exports includes the following products: petroleum gas ($14.4 billion), coal briquettes ($10.7 billion), iron ore ($7.58 billion), copper ore ($1.41 billion), and crude petroleum ($925 million). Japan, Singapore, other Southeast Asian countries, and the United States have all become important Australian trading partners. It's giant Asian neighbour is easily Australia's most important trading partner, and has been since 2007 when it overtook Japan. At that time, Japan was Australia's largest trading partner, accounting for over one-quarter of Australia's exports . This guide gives you an overview of Australia’s economy, including the country’s primary imports and exports. This article takes a look at the country’s top two-way trade partners, which takes into account both imports and exports. This gives Australia a $44 billion positive trade balance with this country. Australia’s trade statistics at a glance Use the interactive map link below to explore Australia's trading relationship with the world. The principal imports include: computers ($5.06 billion), broadcasting equipment ($2.96 billion), telephones ($1.43 billion), other furniture ($966 million), and seats ($814 million). The composition of Australia's exports has largely remained the same, but new markets (including more recently South America and the Middle East) have been sought. 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. … Coal briquettes top the exports list while refined petroleum is the most imported product. China has just joined forces with more than a dozen countries across the Asia Pacific region to sign a huge free trade deal nearly a decade in the making. Log in. The largest percentage of these exports includes the following products: frozen bovine meat ($1.53 billion), sheep and goat meat ($576 million), aircraft parts ($515 million), bovine meat ($502 million), and wine ($435 million). Today the emphasis of Australia's trade has shifted to Asia, with four out of five of Australia's top trading partners located there. The two-way trade between these countries was valued at $60.4 billion in 2014. Both countries are actively engaged economically, culturally and politically which spans numerous organizations such as APEC, East Asia Summit and the G20. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to email this to a friend (Opens in new window), Australia’s Top 10 Major Export Companies, China: US$89.2 billion (32.7% of total Australian exports), United States: -US$15.1 billion (country-specific trade deficit in 2019), China: US$34.6 billion (country-specific trade surplus in 2019), Cotton Tree Trading Pty Ltd (dairy products), Harts Food And Beverages PL (coconut water), Logreen Pty Ltd (food additives, vanilla beans), Metabolic Food Company (breakfast cereal blends), Rasile Global Importers P/L (food, beverages), Waverley Australia Pty Ltd (blankets, rugs, quilts). Merchandise Trade summary statistics for Australia (AUS) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year 2000 Australia exported $18.5 billion worth of goods to the US and imported $41.9 billion, giving Australia a $23.4 billion negative trade balance. Meanwhile, Japan, China, Singapore and Hong Kong have emerged as significant sources of foreign direct investment (FDI) into Australia. Australia ranked as the 19th-largest trade in goods partner of the EU, while the EU represented Australia's 3rd-largest trading partner in 2018, after China and Japan and before the US. It shows that despite some volatility, traderepresented a reasonably steady proportion of GDP throughout the 1960s and1970s, increasing a… Article 207 of the Treaty on the Functioning of the European Union (TFEU) establishes the common commercial policy as an exclusive competence of the European Union. From the Chinese side of things, Australia is still reasonably important - it is China’s seventh largest trading partner. The fastest growers from 2018 to 2019 among top consumers of Austria’s exports were Slovakia (up 100.3%), Belgium (up 33.1%), Poland (up 8.7%), China (up 7.7%) and Hungary (up 7.1%). 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. Australia exported $18.5 billion worth of goods to the US and imported $41.9 billion, giving Australia a $23.4 billion negative trade balance. The most common import partners for Australia are China ($52.7B), United States ($22.2B), Japan ($16.6B), Germany ($11.9B), and Thailand ($11.1B). The US is Australia’s third biggest trading partner. HS Code Export USD$ (26) Ores: $76,156,445,776 (27) Oil & Mineral Fuels: $50,418,571,239 The majority of exports to Japan were raw material inputs for its rapidly growing industrial sector and for its rising energy needs. According to data obtained in the … These figures make the US Australia’s fourth largest export partner and second largest import partner. These figures make the US Australia’s fourth largest export partner and second largest import partner. Sorry, your blog cannot share posts by email. Australia's top trading partners. Imports in Australia is expected to be 34100.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Australia Trade Statistics. Approximately 34% of Australia’s total exports go to China. All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com, The 20 Biggest Trade Partners Of The United States, The World’s Largest Oil Reserves By Country, Top Cotton Producing Countries In The World. The relationship between China and Australia has grown considerably over the years. Australia’s biggest two-way trade partner is China. The largest percentage of these exports includes th… By Amber Pariona on November 4 2019 in Economics. Approximately 4.1% of its total exports go to the US and 11% of its imports originate there. The two countries shared a $70.2 billion trade value in 2014. These economies’ stock of FDI in Australia has grown (CAGR) by 11% per year between 2011 and 2017, to A$186 billion. Australia exported $50.2 billion worth of goods to Japan in 2014 and imported $20 billion, giving Australia a $30.3 billion positive trade balance. Australian Trade Partners is a family owned and operated business that has been established for the past ten years. In fact, in April of 2014, the governments of Australia and Japan signed a free trade agreement after nearly a decade of negotiations. Australia participates in trade with a number of countries around the world. Updated January 15, 2019 13:27:54 China is by far Australia's largest trading partner, contributing $194.6 billion worth of imports and exports. Its exports to China are valued at $98.2 billion and its imports from China are worth $54.3 billion. This is a list of the largest trading partners of Australia. For the past decade, China has been Australia's largest trading partner and now accounts for 32.6% of its exports. Australian Trade Partners prides itself on working with an excellent sales team who distribute our products. Among Australia’s trading partners that generate the greatest positive trade balances, Australian surpluses with China (up 80.9%), Philippines (up 40.2%) and South Korea (up 36.2%) grew at the fastest pace from 2018 to 2019. Australian Trade Partners is a major wholesale provider in the Australian Beverage industry, with an extensive sales and promotion team situated within each of the sates, providing the personal touch whilst servicing the major retail chains and the small independent customers. Twelve economies out of Australia’s top 15 trading partners are now in the region. In 2018, Australia major trading partner countries for exports were China, Japan, Korea, Rep., India and United States and for imports they were China, United States, Japan, Germany and Thailand . Australia’s principal imports from Japan include: cars ($5.32 billion), refined petroleum ($2.37 billion), delivery trucks ($1.15 billion), other large pipes ($562 million), and rubber tires ($499 million). The US is Australia’s third biggest trading partner.