Australia is a major player in the global economy, with its merchandise trade valued at AUD 872.3 billion in 2020 and ranking 21st globally for exports value. China was Australia's largest two-way trading partner that year, accounting for AUD 252 billion of total trade between the countries. Iron ore was Australia's top export item, contributing to an impressive 116 billion dollars worth of exports while agricultural products were also highly sought after abroad with 47.3 billion dollars worth exported during the 2020-21 financial year alone. Services exports totaled 66 million dollars while imports reached 420 million dollars; machinery and transportation equipment being the most imported category by far.
In terms of investment abroad, Australian investments totalled 2,865 trillion US Dollars as of June 2021 whilst 15 Free Trade Agreements (FTAs) have been established across various nations/regions around the world so far this year - including one with America which saw 19 Billion US Dollars’ worth of goods traded between them last year alone. The mineral fuels sector made up 90 Billion US Dollar’s contribution to Australian Exports in 2020 followed closely by manufacturing items such as processed foods which accounted for 58 Billion USD that same period – tourism related services making up 27 Million USD too. Education related personal travel proved popular amongst Australians exporting 18 Million USD overseas last year whilst biomedical products earned 6 Million USD from foreign buyers over 12 months ago now too. Finally 78% percent all goods trades are covered under WTO rules or FTAs according to data collected back in December 2020 meaning there has never been a better time than now when it comes to international business dealings involving our nation down under.
This statistic is a telling indication of Australia’s standing in the global trade market. It highlights the fact that Australia is not a major player in the international trade arena, and that there is still much room for improvement. This is an important point to consider when discussing the state of Australian trade statistics, as it provides a benchmark for assessing the progress of the country’s trade performance.
China was Australia’s largest two-way trade partner in 2020, with a total trade value of AUD 252 billion.
This statistic is a testament to the strong economic ties between Australia and China. It highlights the importance of China as a trading partner for Australia, and the significant contribution it makes to the Australian economy. It also serves as a reminder of the need for Australia to maintain a strong relationship with China in order to ensure continued economic growth and prosperity.
Australian Trade Statistics Overview
In 2020, Australia's largest export item was iron ore, contributing AUD 116 billion.
This statistic is a testament to the importance of iron ore in Australia's economy. It highlights the significance of the commodity in the country's export market, accounting for a whopping AUD 116 billion in 2020. This figure is indicative of the nation's reliance on iron ore as a major source of income, and serves as a reminder of the need to continue to invest in the industry.
In 2020, Australia's services exports totaled AUD 66 billion.
This statistic is a testament to the strength of Australia's services exports, highlighting the importance of the sector to the nation's economy. It demonstrates the success of Australia's trade policies and the ability of the country to remain competitive in the global market. Furthermore, it shows the potential for further growth in the sector, which could lead to increased economic prosperity for the nation.
As of June 2021, Australia had Free Trade Agreements (FTAs) with 15 countries/regions.
The fact that Australia has Free Trade Agreements with 15 countries/regions is a testament to the nation's commitment to international trade. It demonstrates the country's willingness to engage in mutually beneficial economic partnerships with other nations, and highlights the importance of trade to the Australian economy. This statistic is a reminder of the importance of trade to the nation's prosperity and growth, and serves as a reminder of the need to continue to foster strong trading relationships with other countries.
In 2019, the Australian investment abroad reached a total value of AUD 2,865.1 billion.
This statistic is a testament to the strength of Australia's investment abroad. It highlights the country's ability to generate significant returns from its investments, demonstrating the potential for further growth in the future. It also serves as a reminder of the importance of international trade to the Australian economy, and the need for continued investment in order to maintain a competitive edge.
In 2020, the total value of Australian imports was AUD 420.61 billion, with machinery and transportation equipment being the largest import category.
This statistic is a telling indication of the importance of machinery and transportation equipment to the Australian economy. It highlights the fact that these imports are essential for the country's economic growth and development. Furthermore, it shows that Australia is heavily reliant on imports to meet its needs, which is a key factor in understanding the country's trade dynamics.
Australian exports to the United States in 2020 accounted for AUD 19.8 billion.
The fact that Australian exports to the United States in 2020 accounted for AUD 19.8 billion is a testament to the strength of the Australian-US trade relationship. This figure highlights the importance of the US as a key trading partner for Australia, and the potential for further growth in the future. It also serves as a reminder of the importance of maintaining strong economic ties between the two countries.
In 2019, Australia was the world's 20th largest exporter and 22nd largest importer of services.
This statistic is a telling indication of Australia's standing in the global trade market. It highlights the country's importance as a major exporter and importer of services, and provides insight into the nation's economic activity. By understanding the magnitude of Australia's trade activity, readers of the blog post can gain a better understanding of the country's economic health and its role in the global economy.
In 2020, the mineral fuels sector made up the second-largest contribution to Australian exports, with a value of AUD 90.1 billion.
This statistic is a testament to the importance of the mineral fuels sector in Australia's export economy. It highlights the significant contribution this sector makes to the country's overall export performance, accounting for a substantial portion of the total value of exports. This is especially noteworthy in the context of the current global economic climate, where many countries are struggling to maintain their export performance. The mineral fuels sector's success in 2020 is a positive sign for the future of Australian trade.
In 2020, Australian manufacturing exports, including processed foods, were valued at AUD 58 billion.
This statistic is a testament to the strength of the Australian manufacturing industry, highlighting the impressive AUD 58 billion worth of exports in 2020. It is a clear indication of the success of the sector and its ability to remain competitive in the global market. This is especially pertinent in the context of a blog post about Australian Trade Statistics, as it provides a tangible example of the country's economic prowess.
In 2020, Australian tourism exports were valued at AUD 27.7 billion.
This statistic is a testament to the immense value of Australian tourism exports in 2020. It highlights the importance of the tourism industry to the Australian economy, and the potential for further growth in the sector. It also serves as a reminder of the importance of international trade to the Australian economy, and the need to continue to foster strong relationships with our trading partners.
In 2020, the top destination of Australian service exports was the United States, with a value of AUD 18.2 billion.
This statistic is a testament to the strong economic ties between Australia and the United States. It highlights the importance of the US as a major trading partner for Australia, and the significant contribution that service exports make to the Australian economy. It is a reminder of the importance of maintaining strong trade relations with the US, and the potential for further growth in this area.
In 2020, Australian automotive imports were valued at AUD 11.57 billion.
The AUD 11.57 billion worth of automotive imports in 2020 paints a vivid picture of the importance of the automotive industry to Australia's economy. This figure highlights the significance of the automotive sector in terms of trade and its contribution to the nation's overall economic growth. It also serves as a reminder of the need for Australia to remain competitive in the global automotive market in order to ensure its continued success.
In 2020, Australian exports of biomedical products were valued at AUD 6.35 billion.
The fact that Australian exports of biomedical products were valued at AUD 6.35 billion in 2020 is a testament to the strength of the Australian economy. It shows that the country is capable of producing and exporting high-value products, which is a major contributor to the nation's overall economic success. This statistic is a clear indication that Australia is a major player in the global biomedical industry, and it is a testament to the country's commitment to innovation and growth.
As of 2020, 78.5% of Australian goods trade was covered by World Trade Organization (WTO) rules or free trade agreements (FTAs).
This statistic is a testament to the success of Australia's trade policies, demonstrating that the majority of the country's goods trade is conducted under the protection of WTO rules or FTAs. This is important for Australian businesses, as it provides them with a secure and reliable framework for trading with other countries. It also shows that Australia is committed to free and fair trade, which is beneficial for the global economy.
Conclusion
The data presented in this blog post demonstrates the importance of international trade to Australia's economy. In 2020, total Australian merchandise trade was valued at AUD 872.3 billion and China was its largest two-way trading partner with a value of AUD 252 billion. Iron ore exports were the highest contributor to overall export values, followed by mineral fuels and automotive imports respectively. Additionally, services exports totaled AUD 66 billion while education-related personal travel accounted for 18.6 billion dollars worth of exports that same year. Furthermore, Australia had FTAs with 15 countries/regions as well as investments abroad totaling 2,865 million dollars in 2019 alone; 78% percent of which is covered under WTO rules or free trade agreements (FTAs). These figures highlight how important global commerce is for Australia’s economic growth and prosperity going forward into 2021 and beyond
References
0. - https://www.austrade.gov.au
1. - https://www.aph.gov.au
2. - https://www.abs.gov.au
3. - https://www.tra.gov.au
4. - https://www.ustr.gov
5. - https://www.wto.org
6. - https://www.wits.worldbank.org
7. - https://www.datahub.io
8. - https://www.pwc.com.au
