Australia's Trade in Primary and Manufactured products 2010 - record trade surplus

Media release from the Australian Department of Foreign Affairs and Trade

22 June 2011

The Department of Foreign Affairs and Trade (DFAT) today released the new publication, Trade in Primary and Manufactured Products, Australia 2010. According to the publication, Australia registered a record trade surplus of $16.8 billion in 2010.

The record surplus represented a turnaround of $20.8 billion from the deficit of $4 billion recorded in 2009. Total exports rose 13.9 per cent to $284.6 billion year-on-year, while imports rose 5.4 per cent to $267.8 billion.

Australian exports of primary products (Australian produced) rose 24.2 per cent to $165.8 billion, with strong growth in unprocessed minerals and fuels in 2010.

Manufactured exports rose 5.6 per cent, with Simply Transformed Manufactures (STM) up 13.8 per cent to $13.4 billion. Exports of Elaborately Transformed Manufactures (ETM) rose 0.9 per cent to $20.7 billion. Exports of services fell marginally during the year.

Imports of primary products rose 9.6 per cent to $42.1 billion in 2010, with strong growth in unprocessed fuel imports (mainly crude petroleum). ETM imports rose 5 per cent to $140.7 billion, with solid growth in engineering products (up 8 per cent to $85.4 billion). Imports of services rose 5.1 per cent during the year.

This edition of the publication introduces the new DFAT Trade Import and Export Classification (TRIEC). TRIEC allows users to analyse both export and import merchandise trade data for Australia, as well as for other countries, by level of processing. As a result, a full analysis of Australian imports by TRIEC has been included, along with a new section analysing global merchandise trade by TRIEC for our major trading partners.

Trade in Primary and Manufactured Products is part of a series published each year by DFAT, providing a valuable account of 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 3270, or fax (02) 6261 3321 or email statssection@dfat.gov.au

The analyses and tables from the publications are placed on the DFAT website at: Trade in Primary and Manufactured products.