Strong Global Economy Pulls Australian Exports Higher
Media release from the Australian Department of Foreign Affairs and Trade
Australia's total trade in goods and services grew strongly in 2004-05, rising rise thirteen per cent to $350.2 billion, according to a new Department of Foreign Affairs and Trade publication released today.
Composition of Trade, Australia 2004-05 shows the value of exports of goods and services rose thirteen per cent in 2004-05 to $162.3 billion, with exporters benefiting from the strongest global economic conditions in more than a decade. Robust domestic consumption and lower import prices underpinned a twelve per cent rise in imports to $187.8 billion.
A number of key exports recorded strong growth throughout 2004-05. Coal exports rose 57 per cent to $17.1 billion, iron ore exports rose 53 per cent to $8.1 billion, crude petroleum rose 23 per cent to $5.7 billion and beef exports rose 24 per cent to $4.9 billion. In services, transportation service exports rose five per cent in 2004-05, while personal travel exports (education and other personal) rose three per cent.
Japan remained Australia's largest merchandise export market, accounting for 20 per cent ($24.9 billion) of exports, followed by China ($13.0 billion) and the United States ($9.4 billion).
Composition of Trade, Australia 2004-05 provides a comprehensive analysis of the growth, direction and commodity breakdown of Australia's merchandise exports and imports in recent years, and details of services trade over a five year period.
The publication (priced at $55) is part of a series published each year by DFAT, providing comprehensive information on Australia's international trade in goods and services. DFAT also offers a customised consultancy service, producing reports tailored to specific requirements. For further information please contact (02) 6261 3114, or fax (02) 6261 3321 or email firstname.lastname@example.org.
The analysis and summary tables from publications are placed on DFAT's website. Orders for publications can also be placed at this site.
Contacts: Matt Anderson,
(02) 6261 1555