Trade Talk 7 November 2013

7 November 2013

September's trade deficit shrinks 59%

Australia recorded a seasonally-adjusted trade deficit of $284 million in September, a 59% decline on August's $693 million deficit. The narrowing of the deficit was driven by a 1% fall in imports and a 3% rise in resource exports.

TM Media Release: Exports rose slightly in September

51st Australian Export Awards’ finalists announced

Trade Minister Andrew Robb has announced the 76 finalists for the 51st Australian Export Awards. The Awards recognise the efforts and achievements of Australian exporters with the winners announced on November 26. Exports comprise about 20% of Australia’s GDP and help support about 1.5 million jobs.

TM Media Release: Australian Export Awards recognise international success

Austrade CEO: ‘Positive outlook for food and grocery exports’

Austrade CEO Bruce Gosper spoke on the importance of Asia to Australia’s food export industry during an address to the Australian Food and Grocery Council. The UN estimates by 2050, global food production will have to rise by 70 per cent on 2007 levels to meet increased demand.

Austrade Speech : Getting the balance right: Australian Food in International Markets

Acciona invests in ‘strategically important’ Australia

Spanish company Acciona talks to Austrade about Australia’s ‘strategic importance’ as a base for expansion into the Asia-Pacific. Acciona has invested over $650 million in Australia and says its energy, water and infrastructure projects demand highly skilled ‘green jobs’ which are most likely to be filled by Australians.

Austrade Article: Acciona energised by investment into ‘strategically important’ Australia

World Bank: Australia 11th most friendly place to do business

Australia is knocking on the door of the 10 friendliest places to do business according to the World Bank’s Doing Business 2014 annual report. The report benchmarks regulations affecting the private sector and highlights Australia’s regulations on building inspections as best practice.

World Bank Report: Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises

Infographic: Doing Business getting easier around the world

WTO prepares for December Ministerial

In a statement to the Trade Negotiations Committee, WTO Director General Roberto Azevêdo outlined how preparations have intensified in an attempt to conclude a package at the December WTO Ministerial Conference in Bali.

WTO DG statement: “The Bali finish line is clear and in sight” — Azevêdo

Did you know?

Horses for courses (and export)… In 2012 Australia exported 1,590 horses with New Zealand, the UAE and Singapore the top three export destinations by quantity. This figure is dwarfed by horse exports in 1903 when 9,527 horses were exported, with India, Mauritius and Natal (South Africa) the top three export destinations.

Last Updated: 7 November 2013