Australia's Composition of Trade 2007

Media Release

19 May 2008

Media Release

Australia’s total value of trade in goods and services increased 5 per cent in calendar year 2007 to $454 billion, according to a Department of Foreign Affairs and Trade publication Composition of Trade Australia 2007 released today. In volume terms, total trade rose 7 per cent.

2007 Highlights:

  • Exports increased by 4 percent in value terms to $218 billion and 3 percent in volume terms.
  • Imports increased by 7 percent in value terms to $237 billion and 11 percent in volume terms.
  • Australia’s terms of trade increased by a further 5percent in 2007, reflecting a 1 percent rise in export prices and a 4percent fall in import prices.
  • China became Australia’s largest two-way trading partner in 2007, accounting for 13 percent ($58 billion) of total trade
  • Japan was our second largest trading partner ($55 billion), followed by the United States ($48 billion).
  • Japan remained Australia’s largest export market ($35 billion) with the United States the largest source of imports ($32 billion).

Composition of Trade Australia 2007(COT) provides a comprehensive analysis of the growth, direction and commodity breakdown of Australia's merchandise exports and imports in recent years. The services trade over a five year period is assessed.

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

The analyses and tables from the publications are placed on the DFAT website at Hard copy orders can also be placed at this site.

Last Updated: 14 January 2013