Australia's trade with the world

Trade matters

Australian Government Department of Foreign Affairs and Trade

February 2011

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Australia's trade with the world [PDF 1.04 MB]

$500 billion … and growing

Australia's trade with the world totalled $506.9 billion in 2009 — a trend growth of 11 per cent each year for the last five years.

Australia's integration in the global economy, and particularly the dynamic Asia-Pacific region, is a modern economic success story.

In 1989, Australia's exports of goods and services were worth $58.4 billion. Twenty years later, they had risen to $249.9 billion.

Australia's trade contributes to one in five Australian jobs, and has lifted the prosperity of all Australians. This is its story.

Although mineral exports — like coal, iron ore and gold — have grown strongly in recent years, Australia is also a significant exporter of
- services such as education and tourism, intellectual property, professional and business services
- energy commodities such as natural gas and petroleum
- manufactured goods including aluminium, cars and parts and medical products
- agricultural products such as beef, wheat and wine.
Major trading partners are located in Asia (China, Japan, Republic of Korea and ASEAN), North America (United States) and Europe (United Kingdom and Germany).
Australia's trade diversity was a considerable asset in the global financial crisis.
Two million Australians are employed in trade-related industries.
Australia has thrived as a liberal trading nation. Since lowering tariff barriers, Australia's GDP has surged and trade has become a more important part of the economy.

New Zealand is a top 10 trading partner underpinned by the Australia-New Zealand Closer Economic Relations Trade Agreement, which the World Trade Organization ranks as 'a model trade agreement'

Liquefied Natural Gas, or LNG, and other energy commodities make up around 30 per cent of Australia's total exports.

Six steps to a prosperous trading future

Conclusion of the WTO Doha Round — The WTO would deliver the most comprehensive and fair trade deal for all nations. It would advance reform in world agricultural trade through the elimination of export subsidies and cuts in farm support, thereby benefiting developing economies.
Regional trade integration — The ASEAN Australia New Zealand Free Trade Agreement is a platform for further regional economic integration.
Free trade agreements — FTAs will be important means of securing and protecting access to key markets such as China, Japan and the Republic of Korea.
Continued reforms in Australia — The Asia Pacific is the most dynamic economic region in the world, but Australia needs to remain competitive to take advantage of market access opportunities. Ongoing microeconomic reform is the key to maintaining momentum.
Promotion of brand Australia — Australia's brand is vital to our export success. Promoting 'Brand Australia' will help Australian businesses win export contracts, providing employment and bringing us prosperity.
Helping our pacific friends — The Pacific Agreement on Closer Economic Relations (PACER Plus) is an important capacity-building trade negotiation between Australia and the nations of the Pacific Islands Forum. Sharing prosperity through trade will help build sustainable economies across the region.