Australia Wins Export Gold In 2005

Australia's exports reached a record high of $176.7 billion in 2005, 15 per cent higher than in 2004, the Deputy Prime Minister and Minister for Trade, Mark Vaile, said today.

Mr Vaile was commenting on the December 2005 International Trade in Goods and Services figures, which were released today by the Australian Bureau of Statistics. The figures also show that the annual trade deficit declined by $6.2 billion in 2005 to $19.4 billion. On a monthly basis, the trade deficit more than halved, from $2.5 billion in November 2005 to $1.2 billion in December.

"Australia's resources exports rose 47 per cent in 2005, to $58.4 billion, the highest annual level on record. Exports of coal rose 62 per cent, metal ores and minerals rose 43 per cent and other mineral fuels 32 per cent," Mr Vaile said.

"Services exports increased to a record of $37.1 billion in 2005, boosted by a 5 per cent rise in travel services exports.

"Australia's manufacturing exports also grew solidly in 2005, rising 9 per cent on 2004, to $37 billion. Transport equipment exports grew by 12 per cent, metals exports by 10 per cent, and machinery exports by 8 per cent.

"These were partly offset by weaker rural exports, down 9 per cent to $24.7 billion. The decrease reflected in part the carryover effects of poor seasonal conditions in late 2004 and early 2005. However, our meat exports, including beef and lamb, reached record levels in 2005.

"Merchandise exports to North Asia grew by 29 per cent in 2005. Strong growth was recorded in exports to China which rose 46 per cent, making China our second largest merchandise export market. Exports to ASEAN rose 16 per cent with strong growth to Thailand (up 35 per cent) and Singapore (up 23 per cent). Strong growth was also recorded in exports to India, which rose 28 per cent.

"The Australian Government is removing restrictions on businesses, investing in export infrastructure, and pursuing the most ambitious trade agenda in Australia's history - measures that will continue to open up growth opportunities for our exporters," Mr Vaile said.

Contact: Richard Forbes 02 62 777420