Australia's total trade in goods and services continued to grow strongly in 2005, rising twelve per cent to a record $373 billion, according to a new Department of Foreign Affairs and Trade publication released today.
Composition of Trade, Australia 2005 shows the value of exports of goods and services rose fifteen per cent in 2005, to $177 billion, led by a surge in minerals and fuels exports as the resources sector responded to strong world demand. Coal exports rose 63 per cent to $21.8 billion, iron ore exports rose 79 per cent to $11.0 billion, crude petroleum rose 27 per cent to $6.3 billion and natural gas rose 43 per cent to $3.7 billion.
Exports of manufactures also performed well in 2005, rising nine per cent to $37.0 billion, while services exports rose four per cent to $37.1 billion. Within services, transportation service exports rose two per cent to $8.1 billion in 2005, while travel exports rose five per cent to $19.6 billion.
Robust domestic consumption underpinned higher imports of goods and services, increasing nine per cent to $196 billion. Japan remained Australia's largest merchandise export market, accounting for 20 per cent ($28.4 billion) of exports, followed by China ($16.1 billion) and the Republic of Korea ($10.9 billion).
Composition of Trade, Australia 2005 provides a comprehensive analysis of the growth, direction and commodity breakdown of Australia's merchandise exports and imports in recent years, and details of services trade over a five year period.
The publication is part of a series published each year by DFAT, providing comprehensive information on Australia's international trade in goods and services. DFAT also offers a customised consultancy service, producing reports tailored to specific requirements. For further information please contact (02) 6261 3114, or fax (02) 6261 3321 or email firstname.lastname@example.org.
The analysis and summary tables from publications are placed on DFAT's website. Orders for publications can also be placed at this site.
Media Inquiries: DFAT Media Liaison on 02 6261 1555