18 March 2009
Australia’s trade in services grows strongly
Australia’s trade in services grew 11.8 per cent in 2007-08, to $101.3 billion, according to a trade statistics publication released today by the Department of Foreign Affairs and Trade.
The report ‘Trade in Services 2007-08’, shows there was strong export growth in Australia’s education-related travel services, transport services and business services. Export volumes and prices were also higher than in the previous year.
Education services were Australia’s third largest export after coal and iron ore in 2007-08 and were valued at $14.2 billion. Personal travel services (excluding education) were Australia’s fifth largest exportat $12 billion.
Overall, Australian services exports were up by 11.1 per cent to $51.3 billion in 2007-08. Imports of services also rose by 12.5 per cent to $50.0 billion.
Australia’s services exports make up 21.9 per cent of the nation’s total exports and 20.7 per cent of Australia’s total trade in goods and services.
Trade in Services, 2007-08 is part of a series published each year by DFAT, providing a valuable account of Australia’s international trade in goods and services. DFAT also offers a customised consultancy service, producing reports tailored to specific requirements.
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The analyses and tables from the publications are placed on the DFAT website at www.dfat.gov.au/publications/stats-pubs/trade-in-services.html. Hard copy orders can also be placed at this site.
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