28 July 2008
Australia’s trade with East Asia, the European Union and the Americas in 2007
The Department of Foreign Affairs and Trade (DFAT) released three new trade analysis publications today: Australia's Trade with East Asia 2007, Australia's Trade with the European Union 2007 and Australia's Trade with the Americas 2007. These three regions account for 80 per cent of Australia’s total trade with the world. The publications show:
- The value of Australia's exports in goods and services to East Asia rose 3.7 per cent in 2007 to $114 billion, accounting for 53 per cent of Australia’s total exports.
- Iron ore (up 14.6 per cent to $16.0 billion), coal (down 8.0 per cent to $13.0 billion) and crude petroleum (up 18.4 per cent to $6.8 billion) were Australia's largest merchandise export items to East Asia in 2007.
- The most important markets were Japan, China, Republic of Korea, Singapore and Taiwan.
- Services exports also rose, up 7.7 per cent to $17.6 billion. Australia’s imports of goods and services from East Asia increased 5.9 per cent to $109.9 billion.
- Exports of goods and services to the EU fell 3.3 per cent to $27.9 billion in 2007 and accounted for 12.9 per cent of Australia’s total exports.
- Coal (down 18.9 per cent to $3.0 billion), gold (down 28.3 per cent to $2.8 billion) and alcoholic beverages (up 8.5 per cent to $1.4 billion) were Australia's largest merchandise export items to the region in 2007.
- The United Kingdom was the largest export market within the EU, followed by the Netherlands, Germany and France. Services exports rose 5.3 per cent to $8.7 billion. Imports of goods and services from the EU increased 10.4 per cent to $51.2 billion.
- Australia's exports of goods and services to the Americas rose 1.6 per cent to $19.8 billion in 2007, and accounted for 9.2 per cent of Australia's total exports.
- Major merchandise exports to the Americas that recorded strong growth in 2007 included, medical instruments (up 15.8 per cent to $468 million), aircraft & parts (up 18.4 per cent to $348 million), and crude petroleum (up 139.4 per cent to $237 million).
- Exports to the United States accounted for 79.6 per cent of exports to the Americas, Canada accounted for 12.7 per cent and Central America, the Caribbean and South America accounted for the remaining 7.7 per cent.
- Exports of services also rose, up 8.7 per cent to $7.4 billion. Australia’s imports of goods and services from the Americas rose 1.1 per cent to $37.4 billion.
These reports are part of a series of trade publications released each year by DFAT. They are available at www.dfat.gov.au/publications/statistics.html. Should clients wish to obtain printed copies, they will be directed from the DFAT website to an external website, where they can place an order for a hard copy.
Media Enquiries: DFAT Media Liaison - 02 6261 1555