Media release

29 November 2006

Exports and Investment to APEC Grows Strongly

Australia’s two-way trade in goods and services to APEC economies hit $250 billion for the first time in 2005 according to a new report.

Australian Government Minister for Trade, Warren Truss, who was speaking at the APEC Australia Business Forum, released The APEC Region Trade and Investment, 2006 report in Canberra last night [28 November].

The report, produced by the Department of Foreign Affairs and Trade, shows that the impressive trade figure resulted from an 18 per cent increase in exports to APEC’s 21 members to $124.3 billion and a 10 per cent increase in imports to $129.8 billion.

“APEC includes Australia’s major regional trading partners in two-way trade in goods and services. Eight out of 10 of our top export markets are APEC economies and they take nearly 70 per cent of our trade to the world,” Mr Truss said.

“There was particularly strong growth in exports to Japan, China and the Republic of Korea, while strong rises were also recorded to Singapore, Chinese Taipei and Thailand.

“Much of APEC members’ trade is with other APEC members. In 2005, 70 per cent of APEC members’ merchandise exports and 68 per cent of merchandise imports were within the region - emphasising the economic linkages within the grouping,” Mr Truss said.

The APEC Region Trade and Investment, 2006 report also provides highlights of Australia’s trade and investment relationship with individual APEC economies as well as details of trade and investment between the grouping.

The analysis and summary tables from the report are available on www.dfat.gov.au/publications/stats-pubs/apec_region.html. The APEC Region Trade and Investment, 2006 report can be ordered from this site.

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555