Media Release

Friday, 17 October 2003 - MVT80/2003

Australia’s Goods Exports Grow To Apec Region

Australia’s exports of goods to the APEC region have grown almost eight per cent per year on average over the past five years, Trade Minister Mark Vaile said today in Bangkok.

Launching a publication on Australia’s trade and investment relationship with APEC, Mr Vaile said an analysis of trade data highlighted the importance of APEC to Australia’s trade and economic prosperity.

“In 2002-03, APEC remained Australia’s major regional trading partner accounting for $175 billion or 70 per cent of Australia’s total merchandise trade,” Mr Vaile said.

“Australia’s merchandise exports in 2002-03 increased to China (up 12 per cent to $8.8 billion – making an average increase of 20 per cent per annum since 1997-98), New Zealand (up six per cent to $8.1 billion), and to Thailand (up eight per cent to $2.5 billion).

“Exports recording solid growth to the APEC region in 2002-03 were iron ore, up 4 per cent to $5 billion, alcoholic beverages, up 19 per cent to $1.3 billion, and ships and boats, up by 43 per cent to $399 million.”

Analysis of combined exports and imports of goods and services data shows that in 2001-02, the United States ($44.7 billion) was Australia’s largest trading partner, followed closely by Japan ($43.7 billion) and China ($20.9 billion).

Highlights of Australia's trade with other APEC economies are contained in the Department of Foreign Affairs and Trade publication The APEC Region Trade and Investment, 2003.

The publication contains details of trade between APEC economies in both merchandise and services, as well as investment data. It also compares major economic indicators of each of the APEC members, including unemployment, inflation and output.

Copies of the publication can be purchased for $53 by contacting the Market Information and Analysis Section on Ph (02) 6261 3114 or Fax (02) 6261 3321. The analysis and summary tables from the publication, and an order form, are available at http://www.dfat.gov.au/publications/stats-pubs/apec_region.html.

Contact:  Matthew Doman  02 6277 7420