Services exports remain strong
Media Release from the Australian Department of Foreign Affairs and Trade
Australia exported $31.2 billion in services in 2001-02, more than double
the $14.7 billion recorded 10 years ago.
Export revenue from services has grown at an average rate of eight per cent
a year since 1991-92. Services exports in 2001-02 accounted for 21
per cent of Australia's total exports. The sector is a key contributor
to Australian economic growth, and is a major source of investment and employment. It
is also a significant earner of export income.
In particular, Australia's exports of computer-related services rose
by 19 per cent to $949 million, and exports of legal services increased by
42 per cent to $347 million in 2001-02.
The United States was Australia's largest single market for services
exports valued at $4.7 billion or 15 per cent of total services exports. The
United Kingdom, our second largest destination, accounted for exports valued
at $3.5 billion. Exports to Hong Kong, our sixth largest services export
market, grew by a strong 27 per cent to $1.5 billion in 2001-02.
While exports of services were down six per cent on the previous financial
year's record level of $33.2 billion, which was significantly boosted
by the Sydney Olympic Games, Australia's service exports are growing
in sophisticated high value-added sectors such as IT and other professional
The services export figures are contained in the Department of Foreign Affairs
and Trade publication Trade in Services, Australia, 2001-02, released
The publication provides a comprehensive analysis of Australia's international
trade in services, by partner country, by State/Territory and by type of
service. It also contains inter-country comparisons of international
Copies of the publication can be purchased for $26.50 through the Market
Information and Analysis Unit (Ph 02 6261 3114 or Fax 02 6261 3321).
The main features and analysis from the report is available on the Department's
website. Orders for the publication can also be placed on the
Contact: Nicole Guihot, DFAT Media Liaison on 02 6261 1555