Australia's Trade Performance

Following Australia's record $11.7 billion surplus in 2011, Australia recorded a $23 billion trade deficit in 2012.

By Value – Australia's Exports

The growth in Australia's goods and services exports over the past five years slowed to an average rate of 6.2 per cent per annum. This was in part because of lower prices received for Australia's metal ores, minerals and coal, even as export volumes rose. In fact, between 2011 and 2012 the value of minerals and fuels exports decreased by 8.2 per cent to $145.6 billion.

Australia's top three exports in 2012 were iron ores & concentrates ($54.4 billion), coal ($41.3 billion) and gold ($15.5 billion).

Exports of goods and services(a)

($ billion)

in 2002, A$155b, in 2003, A$144b, in 2004, A$156b, in 2005, $A180b, in 2006, A$209b, in 2007, A$218b, in 2008, A$276b, in 2009, A$248b, in 2010, A$283b, in 2011, $A313b, in 2012, A$300b

(a) Balance of payments basis. Based on ABS catalogue 5368.0.

 

By Value – Australia's Imports

The value of Australia's goods and services imports grew on average 4.6 per cent per annum over the past five years.

Manufactured products accounted for over half of total imports and increased by 9.4 per cent to $175 billion.

Australia's top three imports in 2012 were personal travel ($22.1 billion), crude petroleum ($21.6 billion) and passenger motor vehicles ($16.9 billion).

Imports of goods and services(a)

($ billion)

in 2002, A$164b, in 2003, A$166b, in 2004, A$182b, in 2005, A$200b, in 2006, A$226b, in 2007, A$245b, in 2008, A$291b, in 2009, A$259b, in 2010, A$276b, in 2011, A$301b, in 2012, A$323b

(a) Balance of payments basis. Based on ABS catalogue 5368.0.