The Australia - ASEAN - New Zealand Free Trade Agreement
Australia's trade with ASEAN
- ASEAN is an important trading partner for Australia. In 2007, trade in goods and services with the 10 ASEAN countries accounted for 16 percent of Australia’s total trade (A$71 billion).
- As a group, ASEAN is a larger trading partner for Australia than any single country (China 13 per cent, Japan 12 per cent, US 11 per cent).
- ASEAN is a major market for Australian exporters. In 2007, ASEAN member countries purchased 11 per cent of Australia’s merchandise exports (A$18 billion) and 15 per cent of our services exports (A$7 billion).
- Between 1997 and 2007 Australia’s two-way merchandise trade with ASEAN grew by an annual average of 10 per cent.
- ASEAN-Australia merchandise trade has grown faster than Australia’s trade with any of its top 10 commercial partners, except China.
Australia’s merchandise trade with ASEAN
Significant Australian exports, 2007 - ($A million)
Aluminium -
1,666
Milk and
Cream - 698
Medicaments
- 580
Cotton
- 250
Uncoated flat steel
- 164
Significant Australian imports, 2007 - ($A million)
Crude
petroleum
9- ,680
Refined
petroleum
- 5,911
Transport
vehicles
- 2,014
Computers
- 1,622
Televisions
- 599
- Australia supplies 70 per cent of ASEAN’s wool imports, 97 per cent of ASEAN’s live cattle imports, and more than 50 per cent of its alumina, salt and barley imports.
- Australia is also a key supplier of wheat, pork, sugar, dairy and wheat flour to ASEAN.
- Australia is an important destination for ASEAN tourism and students. In 2007, there were 77,190 student enrolments from ASEAN in Australia. About 678,000 tourists from ASEAN visited Australia last year.
- Australia’s investment links with ASEAN are small. ASEAN attracted only 5 per cent of Australia’s foreign direct investment (A$16 billion) as at December 2007, about 49 percent of which was invested in Singapore.
- ASEAN presents significant opportunities for Australian exporters. The 10 ASEAN countries have a combined population of more than 570 million people (third largest after China and India) and a combined GDP of more than US$1 trillion.