Tuesday, 7 August 2001

Auto Exports Continue Strong Growth

Trade Minister Mark Vaile and Industry, Science and Resources Minister Senator Nick Minchin today announced that Australian automotive exports reached a record $4.65 billion in the last financial year, an increase of more than 23 per cent on the previous financial year.

Mr Vaile welcomed these impressive export figures and the important contribution the automotive sector is making to Australia's export performance.

"Vehicle exports increased by 41 per cent last financial year, with the Middle East's Gulf region the main export destination for Australian made vehicles.  More than $1.2 billion worth of vehicles were exported to Saudi Arabia alone, making it the number one export destination," Mr Vaile said.

For automotive components, the United States remains Australia's number one export market ($488 million).

Both Ministers noted that export sales were an important measure of the success of the Government's Automotive Trade Strategy.  They reinforced the industry's reliance on continued growth in exports and sustained investment.  The significant increase in automotive exports indicates the strategy is working.

"The Government, working in close consultation with the industry, was encouraging the development of a prosperous and internationally competitive automotive sector in Australia," Senator Minchin said.

Exports of automotive products rank ahead of traditional export commodities of wheat, wool and beef.

Contact:
James Baker (Minister Vaile) 02 6277 7420
Jennifer Eddy (Senator Minchin) 02 6277 7580