Interactive market profile featuring statistics on international travellers to Australia including visitation, spend and more. It covers our top trading partners, key exports, imports, sources and destinations for investment and how Australia compares with the rest of the world in global export, import and investment rankings. III. This publication seeks to explain in simple statistical representations and in plain English the importance of trade and investment to Australia's ongoing prosperity. The Australian Passport Office and its agents are committed to providing a secure, efficient and responsive passport service for Australia. the world's 5th largest exporter of wine (UN Comtrade, 2017). To help Australians avoid difficulties overseas, we maintain travel advisories for more than 170 destinations. Countries with high FDI stocks relative to the size of their economies tend to have a greater participation in global value chains (GVCs). (d) Total minerals and fuels exports on a balance of payments basis. In 2019, China was Australia’s first largest inbound market for visitor arrivals and largest market for total spend and visitor nights. R. G. Casey Building Statistics; Census; Complete your survey; About; Open search block. This resulted in a trade surplus of $6.8 billion. (b) Excludes imports of large aircraft which are treated confidentially by the ABS. It will enter into force for the other signatories 60 days after each country completes its domestic legal procedures. Australia remained a net exporter of IP to non-OECD countries. switch to the Australia edition switch to the International edition Search jobs ... April 12, 2019. Our interests are advanced by our voice in the G20, the world's premier forum for international economic cooperation. Exports from this sector have more than doubled over the past ten years. ABN: 47 065 634 525, Advisory Group on Australia-Africa Relations (AGAAR). In 2017-18, we welcomed the largest number of international visitors in any year to date. 1 in 5 jobs in the Australian economy involve trade-related activities. 191 XLSX 0.1 MB: Crop data underpinning: Australian crop report: June 2019 No. Minerals and Fuels exports grew by 12.6 per cent in 2017-18. Recent years have seen significant growth in trade between Australia and China. (b) May exclude selected confidential export commodities. China is Australia’s biggest trading partner for both the export and import of goods. Refer to the DFAT website Trade time series data for more information and a list of the excluded commodities. Real prices for consumer products such as clothing, footwear, motor vehicles, household appliances and audio visual equipment have fallen over the past decade. With our World Trade Organization counterparts we are seeking feasible and practical reforms to the WTO to modernise and improve its ability to deliver real outcomes for business. Figure 3 shows the value of goods exported doubling in the five years to 2019-20 from $75b in 2014-15 to $150b in 2019-20; and imports growing significantly also, up 42% over the same period. Compared to a decade earlier: Small electrical appliances (including coffee machines, food processors and irons) are 11.5 per cent cheaper; Prices for toys and games have fallen 17.6 per cent; and. Through the FTA, Australia has secured the best commitments on services that Hong Kong has offered to any country to date, as well as permanently locked-in zero tariffs on all Australian exports to Hong Kong. As of August 2020, Australia's trade balance was $2,643 million (seasonally adjusted). A key benefit of foreign investment is employment, with foreign direct investment in Australia supporting the employment of 1.2 million Australians (or 1 in 10 jobs in Australia). Services exports grew by 7 per cent to reach $88 billion in 2017-18. Consumption goods, services, and capital goods followed in order, with gold contributing the smallest share. In 2019, China's merchandise trade surplus amounted to around 421.9 billion U.S. dollars. Only a small number of issues remained outstanding at the last round of negotiations, and parties agreed to discuss next steps when the positions of all parties were clear. TiSA negotiations have been on hold since December 2016. Recent developments include: the entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and signing of the Peru-Australia Free Trade Agreement in 2018; and the signature of the Indonesia-Australia Comprehensive Economic Partnership and Hong Kong-Australia Free Trade Agreement in 2019. the world's largest exporter of iron ore, coal, unwrought lead and wool (UN Comtrade, 2017), the world's 2nd largest exporter of aluminium ores, beef, lentils and cotton (UN Comtrade, 2017), the world's 3rd largest provider of international education services (UNESCO, 2016), the world's 4th largest global exporter of liquefied natural gas (UN Comtrade, 2017). Based on ABS catalgoue 5368.0 and ABS special data services. The Australian Government is committed to expanding our network of FTAs to account for over 80 per cent of our trade by 2020. However, the levels of Hong Kong (SAR of China) and Chinese investment in Australia have grown significantly over the past decade. (a) Special Administrative Region of China. Our world-leading minerals and energy sector, in particular, has long been powered by foreign investment. The CPTPP will eliminate more than 98 percent of tariffs in the free trade area and enhance the level of transparency and predictability for Australian services exporters. Exports jumped by 11.4 percent while imports rose at a softer 4.7 percent. The study gathered the most up-to-date data available, from 2014-15, on the impact of foreign investment in Australia. Imports reached $395.4 billion after increasing by 9 per cent over the year. Imports of goods and services fell $1,747m (6%) to $28,108m. Additionally, over the financial year, the Reserve Bank of Australia maintained the official cash rate at a stable and historically low level, while the labour market remained strong with the unemployment rate at 5.5 per cent, and signs of a pick-up in wages growth. Statistics. This level of strategic risk is without precedent since the late 1950s and requires responses dormant in Australia since that era. Exports reached a record $403.2 billion, up from $373.7 billion in 2016-17, an increase of nearly 8 per cent. The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) opened for signature in Nuku'alofa in Tonga on 14 June 2017, and has been signed by Australia, New Zealand and nine Pacific Island countries – Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu. With this background, the Australia-China Economic Trade and Investment Expo 2019 (ACETIE) will be held in Melbourne in July 2019. Australia was the world's twenty-third largest exporter in 2017. Services trade is on a balance of payments basis. According to World Trade Organization data, Australia was the twenty-first largest importer in the world in 2017. LDC exports to Australia increased markedly from $151.4 million in 2007-08 to $1.3 billion in 2017-18, averaging 25.5 per cent growth every year. 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