Value of Australia’s trade in goods and services increases
Australia’s value of total trade in goods and services increased 0.8% to $669.3b in 2015, as reported in DFAT’s recent Composition of Trade Australia 2015 publication. Our top three goods and services exports were iron ore and concentrates, coal and education-related services.
World trade weakens in first quarter as imports decline in Asia
World trade has recorded a decline of 1.1% in the first quarter of 2016, compared with the previous quarter. A report by the WTO and the United Nations Conference on Trade and Development shows that world exports fell by 0.8%, with Asia recording the largest drop of 2.7%, however this result was only slightly weaker than anticipated.
WTO: Full Article
Global foreign direct investment hits US$1.76 trillion in 2015
A 38% jump in flows gives hope that global foreign direct investment is at long last returning to a growth path, United Nations Conference on Trade and Development Secretary-General Mukhisa Kituyi said. FDI is at its highest level since its pre-crisis peak but we are not yet out of the woods, he said.
UNCTAD: Full Article
Gross value of farm production to reach $58.5 billion
The total gross value of Australian farm production is forecast to increase to $58.5 billion in 2016-17, according to the latest ABARES Agricultural Commodities report. A favourable start to the season, firm export demand and forecast increases in the production of key crop commodities supported this positive outlook, said ABARES Executive Director Karen Schneider.
ABARES: Full Article
Five ways professional services firms can succeed in Asia
How can professional services firms maximise their success in Asia? This ANZ article provides key insights explaining that businesses need to offer niche expertise, capture Asia-bound business, use a springboard to expand regionally, make the most of FTAs, reduce the fly in fly out model and with competition intensifying, they need to make a start soon.
ANZ: Full Article
Hong Kong firm to import Aussie mangoes into Indonesia
The Indonesian market is shaping up as a potential sweet export opportunity for Australian mango producers. Current consumer demand is exceeding supply levels and Hong Kong based Plantations International plans to start importing Australian "Kensington Pride" mangoes into Indonesia, subject to local regulatory approvals.
AHEA: Full Article
Did you know?
Australia’s total fruit exports to Indonesia were worth over $60 million in 2015 - that’s more than 25,000 tonnes. Our juicy grapes, citrus fruits and apples proved popular, and hopefully mangoes will be added to this basket too.
Upcoming Trade Events
Know-How for Inbound Tourism Excellence program | Cairns, 28 June | Adelaide, 30 June 2016
This program by the Australian Tourism Export Council helps businesses connect with the $36.6b international tourism market. The Know-How for Inbound Tourism Excellence or KITE program prepares tourism businesses for international readiness, providing market specific insights and specialist topic webinars. Visit the registration page to search for further dates and locations.
Australian Trusted Trader information sessions | Adelaide, 29 June 2016
Australian Trusted Trader will be open to all Australian businesses involved in international trade from July 1. It is a free and voluntary program that recognises Australian businesses that meet international supply chain security and trade compliance standards. This information session is available to help you understand the benefits of ATT and how it can make your international business more efficient. Email firstname.lastname@example.org to register interest.
Speed Networking for International Business | Western Sydney, 5 July I Griffith, 6 July I Byron Bay, 12 July I Wollongong, 22 July 2016
The NSW Government and the Export Council of Australia invite you to attend a free Speed Networking for International Business program which covers important topics that matter to all international traders. Industry experts discuss topics including managing international freight risks, protecting your intellectual property rights, finance for success and FTAs.
Visit the DFAT trade website for more on Australian trade, including FTA updates, the latest trade statistics and Trade Talkand business envoy.
Trade Articles sourced from non-Australian Government sources do not necessarily reflect the views of the Australian Government.