australia china trade statistics 2019
Australia sells a massive 30.6 per cent ($123.3 billion) worth of its exports to China, according to figures from the Department of Foreign Affairs and Trade (DFAT). (c) DFAT estimate for 2016-17 and 2017-18. Services accounted for a 21.8 per cent share of exports, worth $88 billion. In 2017-18, the strongest performers included aluminium, our top export in this sector, which grew 25.2 per cent over 2016-17 to $4.1 billion, and zinc exports which expanded by 34.9 per cent to reach $1.7 billion. 1 in 5 jobs in the Australian economy involve trade-related activities. Skip to main content . Since the 1960s, foreign investment from the US, the UK, Japan and elsewhere has provided the capital necessary to develop our largest export industry: minerals and resources. Rural exports and manufactures accounted for 11.7 per cent and 11.4 per cent, or $47.1 billion and $46.1 billion respectively. switch to the Australia edition switch to the International edition Search jobs ... April 12, 2019. (d) Includes Related agency fees & commissions. See the investment section of the DFAT website for more information: Economic activity of foreign-owned businesses in Australia. The CPTPP entered into force for businesses in Australia, Canada, Japan, Mexico, New Zealand and Singapore on 30 December 2018, and Vietnam on 14 January 2019. Link Copied! In 2019-20, exports of iron ore accounted for 56% of all Australian goods exported to China and was a significant driver of the increase in exports between 2014-15 and 2019-20. John McEwen Crescent Year ended June 2018. Countries with high FDI stocks relative to the size of their economies tend to have a greater participation in global value chains (GVCs). (b) Passenger services includes air transport-related agency fees & commissions. (d) Total minerals and fuels exports on a balance of payments basis. (d) The majority of total investment from Belgium is portfolio investment liabilities in the form ofdebt securities (Belgium hosts a major clearing house and despository for euro-denominated bonds and other securities, Euroclear). Investment in this sector increased by 3.1 per cent to $175.7 billion at the end of 2017 to account for 29.8 per cent of the total. Australia leads the WTO discussions on e-commerce. The Portal will be updated as new agreements come into force. ABS Main Menu Open main menu. ; Trade in goods and services – key statistics on Australia's main exports, imports and trading partners. This level of strategic risk is without precedent since the late 1950s and requires responses dormant in Australia since that era. It is up to the listener to read between the lines or pay attention to gestures and body language to get the real message. Year-on-year, imports from China in February 2020 were down 26%. The economy of Australia is a highly developed mixed economy. (a) Foreign investment in Australia: level of investment (stocks) as at 31 December 2017. However, the levels of Hong Kong (SAR of China) and Chinese investment in Australia have grown significantly over the past decade. (d) Special Administrative Region of China. (b) Includes student expenditure on tuition fees and living expenses. Over the past decade since 2007-08, two-way trade with these countries has increased by 3.1 per cent per annum. In 2019, China was Australia’s first largest inbound market for visitor arrivals and largest market for total spend and visitor nights. For more information visit ftaportal.dfat.gov.au. The United States also received the largest portion of Australian investment overseas, again by a wide margin, accounting for $664.5 billion at the end of 2017. Australia had the thirteenth-highest share of direct foreign inward investment in the world in 2017. In March 2019, the Australian and Indonesian Governments signed the Indonesia-Australia Comprehensive Economic Partnership Agreement. Enquiries regarding the licence and use of this booklet are welcome in writing to: Assistant Secretary, Trade and Investment Advocacy Branch Mutton exports were up 83%, compared to 19% across all markets and lamb exports were up 11%, against 12% across all markets. As a result of trade liberalisation since 1986, Australia's GDP is 5.4 per cent higher and the average real income of Australian households has been lifted by over $8,400 per annum, compared to a scenario where liberalisation had not occurred. Australia and Hong Kong announced the conclusion of negotiations on an FTA on 15 November 2018 and the agreement was signed on 26 March 2019. Based on ABS catalogue 5368.0 and ABS special data services. (e) GDP at purchasers' (market) prices is derived by adding Taxes less subsidies on products and Statistical discrepancy to Gross value added at basic prices. Trade and Investment at a Glance provides high level statistical data on Australia's trade and investment profile on an annual basis. When the agreements Australia is currently pursuing are finalised they will cover 88 per cent of Australian trade, up from around 70 per cent now. Indonesians are indirect communicators. (a) Goods trade is on a recorded trade basis. The Regional Comprehensive Economic Partnership (RCEP) negotiations were launched by leaders from ASEAN and ASEAN's FTA partners in the margins of the East Asia Summit in 2012. Trade continues to play a vital role in Australia's continued economic success, with over one quarter of our economic growth over the past five years generated by trade and one in five jobs relating to trade. Australia will be ready to launch negotiations for a comprehensive FTA with the United Kingdom as soon as possible after it has left the European Union. 190 XLSX 0.1 MB: Crop data underpinning: Australian crop report: February 2019 No. Australia's top sectors for foreign direct investment in 2017 were mining, with a 37.1 per cent share of the total worth $315.3 billion, followed by manufacturing with a 11.5 per cent share worth $97.7 billion, and real estate activities with a 10.7 per cent share worth $91 billion. Australian Bureau of Statistics. EU position in world trade. Statistics. Australia's trade balance is the difference between what we export and what we import. Figure 1 shows exports and imports on aBalance of Payments basis since 1959 and Australia’s trade balance over theperiod (the difference between Australian exports and imports in a quarter). (a) Chain Volume Measures (CVM), reference year 2016-17. Australia exports approximately two thirds of our total agricultural production, around 95 per cent of iron ore, and almost all metallurgical coal production. Read more Policymakers in … Australia is also able to support our trade and investment interests through the Asia-Pacific Economic Cooperation (APEC) forum. That eclipses what Australia sells to Japan, South Korea, the United States and India combined ($117.5 billion) — 29.1 per cent of its exports. Australia sells a massive 30.6 per cent ($123.3 billion) worth of its exports to China, according to figures from the Department of Foreign Affairs and Trade (DFAT). RCEP has the potential to deliver significant opportunities for Australian businesses, with the 16 RCEP participating countries accounting for almost half of the world's population, over 30 per cent of global GDP, and over a quarter of world exports. A further 29.1 per cent of total exports went to Japan, the Republic of Korea, the United States and India, collectively. (a) Australian investment abroad: level of investment (stocks) as at 31 December 2017. Over the past ten years, Australian exports of services have expanded by over 60 per cent. Figure 3 shows the value of goods exported doubling in the five years to 2019-20 from $75b in 2014-15 to $150b in 2019-20; and imports growing significantly also, up 42% over the same period. (a) Special Administrative Region of China. As of August 2020, Australia's trade balance was $2,643 million (seasonally adjusted). Key statistics. Statistics; EU and WTO. Australia's 2017 Foreign Policy White Paper recognises that Australia's interests are served by our independent and global efforts to encourage sustainable development and reduce poverty. Africa includes Central & West Africa; North Africa and Southern & East Africa. Under the 2018 Argentinian G20 Presidency, Australia continued to reaffirm our commitment to a rules-based multilateral trading system anchored in the WTO, and advocated its essential role in maintaining continued economic stability and global prosperity. Statistics; Census; Complete your survey; About; Open search block. (a) Includes loans, trade credit, currency, deposits and reserve assets. World Trade Statistical Review 2019 looks into the latest developments in world trade, with a detailed analysis of the most recent trends for trade … Imports of goods and services fell $1,747m (6%) to $28,108m. The Australian Government continues to support efforts to finalise the Environmental Goods Agreement with 17 WTO members (including the United States, China, the European Union and Japan). Table 1 shows Australia’s top export markets for 2015, the share of Australia’s total exports which went to each market (by value) and growth in exports over the five years to 2015. ... Debra Meiburg's guides to the wine trade in China Latest update: 03 Apr 2018 . Our world-leading minerals and energy sector, in particular, has long been powered by foreign investment. The Shanghai … Ever since Australia's first free trade agreement, with New Zealand in 1983, trade agreements have reduced costs for Australian exporters and eased the pathway for Australian goods and services into foreign markets. The barley exports were worth almost $600 million in 2019, after coming off multibillion-dollar highs in previous years. (b) Services on balance of payments basis. (c) Total manufactures exports on a balance of payments basis. With short-term arrivals in Australia of 1.5 million up to June 2019, China overtook New Zealand, which contributed 1.4 million. (a) Goods trade is on a recorded trade basis. A 2018 report by the Hinrich Foundation estimates that digital trade accounts for $6 billion of Australian exports today, and could reach $19 billion by 2030. They are a central part of our nation's supply chain. Negotiations and agreements; Development; Statistics ; Accessing markets. The World Trade Organization (WTO) is the only global international organisation concerned with the rules of trade between nations. Foreign investors had a total of $3.3 trillion invested in Australia at the end of 2017. Based on ABS trade data on DFAT STARS database and ABS catalogues 5302.0 & 5368.0. We strongly support free trade as a means to open foreign markets to Canadian goods and services, grow Canadian businesses, create good-paying jobs and contribute to middle … In 2019, China's merchandise trade surplus amounted to around 421.9 billion U.S. dollars.
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