Author: Alison May – Talent Consultant, Global Supply Chain and Logistics
The Australian Trade figures and statistics produce evidence of a very colourful journey that Australia has undertaken over the past 10 years.
Through tracking the Import and Export performance we have discovered some fascinating trends that ultimately predict the Manufacturing and Trading performance of Australia as a whole.
The major Trade Statistics of Australia as of 2012:
- Australia’s two-way trade (Import and Export) reached a record $608.2 billion in 2011/12
- China, Japan, the United States and the Republic of Korea were the nation’s top four trading partners in 2011/12
- Australia’s record export performance resulted in an $18.3 billion trade surplus in 2011. This is an increase of $3.1 billion on the surplus recorded in 2010.
- Australia’s most exported goods included: Iron Ores and Concentrates, coal and Gold
- Australia’s most Imported goods included: Petroleum, Motor Vehicles, Medicines and Technology
- NSW was the largest manufacture state that contributed to 32% of GDP followed by VIC at 28% and then QLD at 17%
How Australia’s Exports and Imports Compare to the rest of the world:
The importance of investing in Australian manufacturing and transportation is fundamental to the success of the country. It determines interest rates, dollar value and the costs of tariffs, taxes and the overall stability of the Australian Economy. Currently Australia is ranked 21st in the world based on Export performance. We contribute to 1.4% of all Exports globally and that percentage is predicted to fall. China and the US currently hold the top position of all Exports coming at a shared 9.3% ownership each. Traditionally Australia is known as an Import nation, this is evident in the Import trade figures that state Australia currently Imports $304 billion worth of goods which puts us at a 20th ranking compared to the rest of the world.
The Australian Economy:
The Australian Economy is one of the strongest performing Economies globally. This is largely due to the strong trading relationship we have with the most powerful economic country in the world- China. Other contributing factors include: a flexible, open and investment driven trading environment and various government regulations