Strong exports growth to East Asia, the EU and the Americas

Australia's exports to East Asia, the European Union and the Americas all rose strongly in 2006, the Minister for Trade, Warren Truss, said today.

Mr Truss released three publications from the Department of Foreign Affairs and Trade (DFAT) which show that these regions account for more than 80 per cent of Australia’s total trade with the world.

The publications are Australia's Trade with East Asia 2006, Australia's Trade with the European Union 2006 and Australia's Trade with the Americas 2006.

“They provide a comprehensive analysis of the growth, direction and composition of Australia’s merchandise and services trade with each of these regions,” Mr Truss said.

Individual reports for countries in each region provide major economic indicator data and information on each country's significance as a trading partner for Australia.

Australia's Trade with East Asia
The value of Australia's exports in goods and services to East Asia rose 15 per cent in 2006 to $110 billion and accounted for 53 per cent of Australia’s total exports.

Coal (up 2 per cent to $14.2 billion), iron ore (up 31 per cent to $13.9 billion) and crude petroleum (up 12 per cent to $5.7 billion) were Australia's largest merchandise export items to East Asia in 2006. The most important markets for Australia in this region were Japan, China, Republic of Korea, Taiwan and Singapore. Services exports also rose, up 5 per cent to $16.3 billion.

Australia's Trade with the European Union
Exports of goods and services to the EU rose 25 per cent to $28.6 billion in 2006 and accounted for 14 per cent of Australia’s total exports.

Coal (up 8 per cent to $3.7 billion), gold (up 369 per cent to $2.9 billion) and alcoholic beverages (up 2 per cent to $1.3 billion) were Australia's largest merchandise export items to the region in 2006. The United Kingdom was the largest export market within the EU, followed by the Netherlands, Germany and Italy. Services exports rose 4 per cent to $8.3 billion.

Australia's Trade with the Americas
Australia's exports to the Americas rose 9 per cent to $21.1 billion in 2006, and accounted for 10 per cent of Australia's total exports.

Major merchandise exports to the Americas that recorded strong growth in 2006 included, medical instruments (up 39 per cent to $404 million), uncoated flat steel (up 68 per cent to $267 million), and aluminum (up 37 per cent to $231 million). Exports to the United States accounted for 74 per cent of exports to the Americas, Canada accounted for 11 per cent and Central America, the Caribbean and South America made up the remaining 15 per cent. Exports of services also rose, up 14 per cent to $6.8 billion.

These three publications are part of a series of trade publications published each year by DFAT. The publications are available at: www.dfat.gov.au/publications/statistics.html. There is a link on this site to order hard copies.

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