Frequent question: Which country is most important to Australia’s trade?

China, Japan, the United States and the Republic of Korea are now Australia’s largest trading partners.

Which country does Australia trade with the most?

The largest trading partners

Rank Country/District Imports
1 China 78,321
2 Japan 26,967
3 European Union 47,573
4 United States 31,603

What does Australia trade the most?

Trade as a share of GDP

Rank Commodity 5 year growth trend
%
1 Iron ores & concentrates 0.9
2 Coal –3.9
3 Education-related travel services 3.3

Who does Australia export to the most?

Also shown is each import country’s percentage of total Australian exports.

  • China: US$89.2 billion (32.7% of total Australian exports)
  • Japan: $24.4 billion (9%)
  • South Korea: $13.6 billion (5%)
  • United Kingdom: $10.4 billion (3.8%)
  • United States: $10 billion (3.7%)
  • India: $9 billion (3.3%)
  • New Zealand: $7.1 billion (2.6%)

25 янв. 2021 г.

Which countries are Australia major trading partners?

Australia trade balance, exports and imports by country

In 2018, Australia major trading partner countries for exports were China, Japan, Korea, Rep., India and United States and for imports they were China, United States, Japan, Germany and Thailand.

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Who is China’s largest trade partner?

List of largest trading partners of China

No. Country / Region Exports
Total 2,263.3
1 United States 429.7
2 European Union 375.1
3 Japan 137.2

What does America buy from Australia?

U.S. imports from Australia are up 43.7% from 2004 (pre-FTA). The top import categories (2-digit HS) in 2019 were: meat (beef) ($2.4 billion), pharmaceuticals ($1.2 billion), special other (returns) ($806 million), optical and medical instruments ($747 million), and aluminum ($596 million).

Where does Australia make its money?

Its GDP was estimated at A$1.3 trillion as of 2020. The Australian economy is dominated by its service sector, comprising 62.7% of the GDP and employing 78.8% of the labour force in 2017.

What are Australia’s top 5 imports?

Imports: The top imports of Australia are Refined Petroleum ($18.5B), Cars ($18.1B), Crude Petroleum ($9.25B), Delivery Trucks ($7.29B), and Broadcasting Equipment ($6.51B), importing mostly from China ($52.7B), United States ($22.2B), Japan ($16.6B), Germany ($11.9B), and Thailand ($11.1B).

What is Australia good at producing?

Top exports: minerals, services & energy

Australia’s top 10 exports ranked by value in FY2018–19 were: iron ore; coal; natural gas; education-related services; personal travel services (excluding education); gold; aluminium; beef; crude petroleum; and copper ore.

Who is our biggest trading partner?

China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports. But this landscape could be reshaped as President Trump pursues “America First” policies and reworks free trade deals.

What are the major imports from China to Australia?

Australia’s main imports from China are manufactured goods, which were worth more than AUD 21 billion in 2018 and is led by telecommunication equipment, IT products, furniture and homewares.

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Does Australia trade with Russia?

Russia was Australia’s 46th largest trading partner in 2019, with the trade balance strongly favouring Australia. There is a modest level of two-way investment. Australian companies are active in the Russian resources sector, both as investors and as suppliers of advanced mining equipment.

How much trade is there between China and Australia?

According to statistics, the trade volume between China and Australia in 2019 was about $158 billion, while Australia’s trade surplus with China was close to $50 billion. Its exports to China were worth $103.90 billion, accounting for 38.2 percent of Australia’s total exports last year.

Which country trades the most?

The United States is the world’s largest trading nation, with over $5.6 trillion in exports and imports of goods and services in 2019.

How does Australia gain from trade?

Trade agreements can improve market access across all areas of trade – goods, services and investment – and help to maintain and stimulate the competitiveness of Australian firms. This benefits Australian consumers through access to an increased range of better-value goods and services.

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