Australia trades $108 billion in services in 2010-11

Media release from the Australian Department of Foreign Affairs and Trade

1 March 2012

Australia's total trade in services grew by 2.4 per cent last year to $107.9 billion.

Australia's Trade in Services 2010-11 figures released today by the Department of Foreign Affairs and Trade show China as Australia's largest service export market, valued at $5.7 billion in 2010-11.

Exports of services decreased in the same period by 2.8 per cent to $50.6 billion. This is primarily attributed to a fall in total education services, down 12 per cent to $16.3 billion reflecting a drop in foreign students studying in Australia.

Partly offsetting this fall, transport services rose 2.4 per cent to $6.3 billion and other business services rose 6.6 per cent to $7.4 billion, mainly due to a rise in engineering services.

Australia's imports of services increased by 7.4 per cent to $57.4 billion, with rises in travel services (up 9 per cent) and transport services (up 7.4 per cent) reflecting an increase in the number of Australians travelling abroad (up 9.9 per cent to 7.4 million).

The United States has been Australia's largest trade in services partner since 1984-85. Trade in services was last year valued at $15.5 billion, nearly a third of total trade with the United States.

The Australia's Trade in Services 2010-11 publication is part of a series published each year by the Department of Foreign Affairs and Trade, providing an account of Australia's international trade in goods and services. The Department also offers a customised consultancy service, producing reports tailored to specific requirements. For further information please contact (02) 6261 2271, or fax (02) 6261 3321 or email statssection@dfat.gov.au.

The publication and analysis is available from the DFAT website: http://www.dfat.gov.au/publications/stats-pubs/trade-in-services.html.