Solid Growth in Australia's Exports and Investments in APEC Region

Australia's exports of goods and services to APEC members grew 10 per cent to $105.3 billion in 2004, Trade Minister Mark Vaile announced today.

The APEC Region Trade and Investment, 2005, produced by the Department of Foreign Affairs and Trade, shows the importance of the APEC region to Australia in terms of trade and investment.

"APEC remains Australia's major regional trading partner with eight of Australia's top 10 trading partners being APEC economies," Mr Vaile said.

"The APEC region's share of Australia's two-way trade in goods and services was worth $222.5 billion in 2004 and accounted for 68 per cent of Australia's trade with the world."

Australia's goods and services exports increased to most APEC economies in 2004 with exports to Japan up 12 per cent to $25.6 billion, China up 22 per cent to $12.3 billion, Republic of Korea up 13 per cent to $10.1 billion and New Zealand up 8 per cent to $11.4 billion. Strong increases also resulted to Chinese Taipei (up 11 per cent to $4.5 billion), Indonesia (up 13 per cent to $4.2 billion), Thailand (up 31 per cent to $3.6 billion) and Malaysia (up 14 per cent to $3.4 billion).

Major merchandise exports recording solid growth to the region in 2004 were coal (up 36 per cent to $9.4 billion), iron ore (up 23 per cent to $5.8 billion), beef (up 29 per cent to $4.5 billion) and copper (up 36 per cent to $1.5 billion).

Services exports to the region also grew during 2004, rising five per cent to $20.3 billion. Strong growth was recorded particularly in travel services, which rose 11 per cent to $11.3 billion.

Australian investment in APEC economies increased by 21 per cent to $399 billion in 2004, accounting for 61 per cent of Australia's total investment abroad. Investment by APEC members in Australia rose by 18 per cent to $504.2 billion in 2004, accounting for 44 per cent of total foreign investment in Australia.

The publication details Australia's trade and investment relationship with individual APEC economies as well as trade and investment between economies.

Copies of the publication can be purchased for $58 by contacting the Market Information and Analysis Section on Ph (02) 6261 3114, Fax (02) 6261 3321 or email statssection@dfat.gov.au. The analysis and summary tables from the publication, and an order form, are available at http://www.dfat.gov.au/publications/stats.html.

Contacts: Richard Forbes 02 6277 7420