Trade Talk, 26 May 2016
Australia's trade in goods and services 2015
China remained Australia's largest export market, import source and two-way trading partner in terms of goods and services in 2015, according to data released by the Australian Bureau of Statistics this week. Notably, the United States overtook Japan as our 2nd largest two-way trading partner, growing by $9.6b or 15.9%.
India trade: the untapped potential
India is the fastest growing major economy in the world. With a population of 1.3b and a growing middle class, the Indian market holds enormous potential for Australia. Two-way trade in goods and services has grown from $9.7b in 2005 to nearly $20b in 2015. The Engaging with India 2016 conference held in Sydney last week heard that despite some remarkable growth, Australia's economic partnership with India is still relatively under-developed.
New ECA feature to report trade barriers
A new reporting mechanism available on the Export Council of Australia website allows companies to record technical barriers, or Non-Tariff Measures (NTMs), being encountered in export markets. The data captured through this new feature will help raise awareness amongst the trade community of NTMs and avenues that exist to address them.
Market access secured for Australian nectarines to China
Australian nectarine producers now have access to the Chinese market, following the establishment of new import protocols by both countries. China is currently our largest agricultural, forestry and fisheries export market, with total exports in 2015 valued at approximately $10.9b.
Tourism Australia releases new market and consumer profiles
Tourism Australia has published updated market and consumer profiles which identify insights for Australia's 11 key tourism markets. The profiles detail market performance, the aviation landscape, planning and booking information sources and distribution, and identify factors important to travellers when selecting their holiday destinations.
Did you know?
Australia tasted sweet success in 2015, exporting over $15.4m worth of nectarines. That's more than 5,300 tonnes.
Upcoming Trade Events
Know-How for Inbound Tourism Excellence program
Sydney 7 June I Melbourne 14 June 2016
A new program to help businesses connect with the $36.6b international tourism market has been launched by the Australian Tourism Export Council. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for dates and locations.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.