Australia's total value of trade in goods and services increased 14.6 per cent in 2008-09 to $563.7 billion, according to a Department of Foreign Affairs and Trade publication, Composition of Trade Australia 2008-09, released today.
Despite the adverse impact of the global economic crisis on world trade, Australia exports rose 1.8 per cent in volume terms in 2008-09, while imports fell by 2.5 per cent.
- Australia's top three two-way trading partners in 2008-09 were China ($83.0 billion), Japan ($75.3 billion) and the United States ($53.1 billion).
- Japan was Australia's largest export market in 2008-09, accounting for 19.3 per cent ($55 billion) of total exports, rising 46.7 per cent.
- China was Australia's second largest export market ($44.4 billion) increasing 41.3 per cent; and India became Australia's fourth largest export market ($18.8 billion) up from seventh in 2007-08.
- Exports increased by 21.9 per cent in 2008-09 to $284.7 billion and 1.8 per cent in volume terms.
- Australia's top three exports were coal ($54.8 billion), iron ore and concentrates ($34.2 billion) and gold ($17.5 billion)
- Australia's terms of trade continued to increase in 2008-09 by 7.6 per cent.
Composition of Trade Australia 2008-09, (COT) provides a comprehensive analysis of the growth, direction and commodity breakdown of Australia's exports and imports in recent years.
The COT 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 3114, or fax (02) 6261 3321 or email firstname.lastname@example.org
The analyses and tables from the publications are placed on the DFAT website at :
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