Professional Documents
Culture Documents
Trade and Investment at A Glance 2019
Trade and Investment at A Glance 2019
INVESTMENT
AT A GLANCE
2019
ISSN 1839-1834 (Print)
ISSN 1839-1842 (Online)
ISBN 978-1-74322-367-3 (PDF document)
ISBN 978-1-74322-368-0 (Web page)
CREATIVE COMMONS
DATA
Unless otherwise specified, all data is for the financial year 2017-18,
for investment and international data the relevant time period is
the calendar year 2017.
CURRENCY
Unless otherwise specified, all amounts are in Australian dollars.
ENQUIRIES
Enquiries regarding the licence and use of this booklet are welcome
in writing to:
Assistant Secretary, Trade and Investment Advocacy Branch
Department of Foreign Affairs and Trade
R. G. Casey Building
John McEwen Crescent
Barton ACT 0221 Australia
Phone: 02 6261 1111
www.dfat.gov.au/trade
CONTENTS
FOREWORD3
EXPORTS16
IMPORTS31
FOREIGN INVESTMENT 38
Frances Adamson
Secretary
3
THE AUSTRALIAN ECONOMY
In 2017-18, the Australian economy continued to strengthen
and completed 27 years of continuous annual economic
growth.
Reflecting a robust domestic economy, almost one thousand
jobs were created every day on average, and by early 2018,
the Australian Bureau of Statistics had catalogued the
longest period of jobs growth ever recorded in this country.
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.
Over the next five years, Australia’s GDP growth
is forecast to exceed that of all major advanced
economies in the world.
4 TRADE AND INVESTMENT AT A GLANCE 2019 TRADE AND INVESTMENT AT A GLANCE 2019 5
Australia is a top 20 country that performs strongly across a broad range of global measures.
completed 27 years of
economic growth, one of the world’s 3rd largest
the few economies since provider of international
WWII to have done so education services
(Australian Bureau of (UNESCO, 2016)
Statistics, 2017-18)
6 TRADE AND INVESTMENT AT A GLANCE 2019 TRADE AND INVESTMENT AT A GLANCE 2019 7
Australia’s Key Economic Indicators
2015-16 to 2017-18
2015-16 2016-17 2017-18
Labour force
8 TRADE AND INVESTMENT AT A GLANCE 2019 TRADE AND INVESTMENT AT A GLANCE 2019 9
10
$m % share (c)
‘000 % share
(a) Based on current price GDP. Industry breakdown based on ANZSIC 2006.
(b) Derived from original data on an annual average. Year ended June 2018.
(c) As a share of GDP at basic prices.
(d) Basic prices are amounts received by producers, including the value of any subsidies on products, but before any taxes on
products.
(e) GDP at purchasers’ (market) prices is derived by adding Taxes less subsidies on products and statistical discrepancy to Gross
value added at basic prices.
Based on ABS catalogues 5206.0, 6202.0 and 6203.0.
11
PROFILE OF AUSTRALIA’S TRADE
5
Australia’s two way trade
in goods and services
grew at a strong but
more moderate pace in
2017-18, compared to
2016-17.
Two-way trade expanded
by 8.4 per cent to
$798.6 billion, up from
$736.6 billion in 2016-17,
to reach a new record
high.
Australia’s top five
trading partners were
China, Japan, the United
States, the Republic of
INDIA SOUTH KOREA UNITED STATES JAPAN CHINA
Korea and India.
12 TRADE AND INVESTMENT AT A GLANCE 2019 TRADE AND INVESTMENT AT A GLANCE 2019 13
Australia’s Two-Way Trade by Region 2017-18
OTHER(a)
$13.5B
AFRICA
.1%
$10.7B
34
OCEANIA
ER
$38.4B CHINA
OTH
AMERICAS $194.6B
$90.9B
EUROPE
$118.6B
JAPAN
$77.6B
REPUBLIC
OTHER ASIA
.9 %
OF KOREA
$91.8B $52.3B
65
ASEAN
$110.1B
IA
AS
Regional breakdowns:
Asia includes Central Asia; Middle East; North Asia; South East Asia and Southern Asia.
Europe includes Eastern Europe; Northern Europe; South Eastern Europe, Southern
Europe and Western Europe.
Americas includes North America; the Caribbean; Central America and South America.
Oceania includes Antarctica and Pacific Island countries and territories.
Africa includes Central and West Africa; North Africa and Southern and East Africa.
(a) Includes confidential items of trade.
Based on ABS catalogues 5368.0 and 5368.0.55.003 and unpublished ABS data.
($ billion)
(a) All data is on a balance of payments basis, except for goods by country which are on a
recorded trade basis.
(b) May exclude selected confidential export and import commodities. Refer to the DFAT
website (http://dfat.gov.au/about-us/ publications/trade-investment/Pages/dfat-
adjustments-to-abs-official-trade-data.aspx) for more information and a list of the
excluded commodities.
(c) Totals may not add due to rounding.
400
350
$ billion
300
250
200
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
20
(a) Balance of payments basis.
(b) By value.
Based on ABS catalogues 5302.0 & 5368.0.
($ billion)
(a) All data is on a balance of payments basis, except for goods by country which are on a
recorded trade basis.
(b) May exclude selected confidential export commodities. Refer to the DFAT website
(http://dfat.gov.au/about-us/publications/trade-investment/Pages/dfat-adjustments-to-
abs-official-trade-data.aspx) for more information and a list of the excluded commodities.
(c) Special Administrative Region of China.
(d) Totals may not add due to rounding.
Based on ABS trade data on DFAT STARS database, ABS catalogue 5368.0.55.003 and
unpublished ABS data.
$ % %
Rank Commodity(a) million share change
1 Iron ores & concentrates 61,357 15.2 -2.0
2 Coal 60,356 15.0 11.3
3 Education-related travel services(b) 32,434 8.0 15.5
4 Natural gas 30,907 7.7 38.5
5 Personal travel (excl education) services 21,580 5.4 -0.2
6 Gold 19,293 4.8 1.7
7 Aluminium ores & concentrates (incl alumina) 9,448 2.3 25.5
8 Beef 7,963 2.0 11.9
9 Crude petroleum 6,507 1.6 26.3
10 Copper ores & concentrates 5,720 1.4 25.0
11 Professional services 5,211 1.3 5.4
12 Wheat 4,652 1.2 -23.4
13 Financial services 4,574 1.1 15.5
14 Meat (excl beef) 4,526 1.1 18.1
15 Technical & other business services 4,262 1.1 -5.5
16 Telecom, computer & information services 4,173 1.0 25.2
17 Aluminium 4,097 1.0 25.2
18 Wool & other animal hair (incl tops) 3,985 1.0 22.1
19 Other ores & concentrates 3,141 0.8 20.7
20 Alcoholic beverages 3,111 0.8 19.1
Total exports(c) 403,241 100.0 7.9
(a) Goods trade is on a recorded trade basis. Services trade is on a balance of payments basis.
(b) Includes student expenditure on tuition fees and living expenses.
(c) Total exports on a balance of payments basis.
Based on ABS trade data on DFAT STARS database and ABS catalogues 5302.0 & 5368.0.
OTHER GOODS
GOLD $12.4B
$20.2B
MANUFACTURES
$46.1B
MINERALS
& FUELS
$189.4B
RURAL
$47.1B
SERVICES
$88B
200
150
$ billion
100
50
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
20
(a) Balance of payments basis.
(b) By value.
Based on ABS catalogues 5302.0 & 5368.0.
All bar two of Australia’s top ten Minerals and Fuels exports recorded a
greater than ten per cent increase in 2017-18, with natural gas exports
expanding by 38.5 per cent to $30.9 billion and crude petroleum growing
by 26.3 per cent to $6.5 billion.
80
$ billion
60
40
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
Number of % change on
Rank Economy visitors (‘000) 2016-17
45
$ billion
40
35
30
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
$ % %
Rank Commodity(a)(b) million share change
1 Aluminium 4,097 8.9 25.2
2 Copper 2,891 6.3 -7.6
3 Medicaments (incl veterinary) 2,343 5.1 7.3
4 Aircraft, spacecraft & parts 2,043 4.4 13.5
5 Telecom equipment & parts 1,813 3.9 3.6
6 Zinc 1,709 3.7 34.9
Pharmaceutical products (excl
7 1,583 3.4 20.2
medicaments)
8 Medical instruments (incl veterinary) 1,476 3.2 -7.8
9 Miscellaneous manufactured articles 1,094 2.4 9.2
10 Measuring & analysing instruments 1,059 2.3 13.2
11 Pigments, paints & varnishes 995 2.2 16.3
12 Lead 977 2.1 -22.3
13 Paper & paperboard 947 2.1 6.5
14 Perfumery & cosmetics (excl soap) 881 1.9 27.0
15 Specialised machinery & parts 869 1.9 7.9
16 Vehicle parts & accessories 863 1.9 14.5
17 Computers 847 1.8 9.6
18 Inorganic chemical elements 725 1.6 50.9
19 Civil engineering equipment & parts 667 1.4 -7.7
20 Pearls & gems 665 1.4 -9.2
Total manufactures exports(c) 46,118 100.0 4.3
50
$ billion
40
30
20
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
20
(a) Definition of agriculture, forestry and fisheries includes alcoholic beverages as set
out in the WTO International Trade statistics publication.
(b) By value.
Based on ABS catalogues 5302.0 & 5368.0.
The value of goods and services imported into Australia continued to rise
in 2017-18. Imports reached $395.4 billion after increasing by 9 per cent
over the year. Australia’s top import, worth $42.5 billion, was the provision
of travel services for Australians travelling overseas for personal tourism
(excluding education-related travel). This category grew by 12.6 per cent
over the year and represented more than ten per cent of Australia’s total
imports. According to World Trade Organization data, Australia was the
twenty-first largest importer in the world in 2017.
Australia’s Imports(a)(b)
400
350
$ billion
300
250
8
8
-0
-0
-1
-1
-1
-1
-1
-1
-1
-1
-1
07
08
09
10
11
12
13
14
15
16
17
20
20
20
20
20
20
20
20
20
20
20
($ billion)
Rank Sources(a)(b) Goods Services Total % share
1 China 68.1 3.2 71.3 18.0
2 United States 31.8 17.0 48.8 12.3
3 Republic of Korea 27.8 0.9 28.7 7.3
4 Japan 22.3 4.0 26.3 6.6
5 Germany 14.7 3.5 18.2 4.6
6 Thailand 15.0 3.1 18.1 4.6
7 United Kingdom 7.3 8.7 16.0 4.1
8 Singapore 9.4 5.3 14.6 3.7
9 New Zealand 7.9 6.0 13.9 3.5
10 Malaysia 11.5 1.0 12.6 3.2
Total top 10 sources 215.8 52.6 268.4 67.9
Total imports(c) 302.4 93.0 395.4 100.0
of which: APEC 220.4 53.6 274.1 69.3
ASEAN 47.2 16.2 63.4 16.0
EU28 53.9 22.6 76.4 19.3
OECD 154.6 54.1 208.7 52.8
(a) All data is on a balance of payments basis, except for goods by country which are on a
recorded trade basis.
(b) May exclude selected confidential import commodities. Refer to the DFAT website
(http://dfat.gov.au/about-us/ publications/trade-investment/Pages/dfat-adjustments-
to-abs-official-trade-data.aspx) for more information and a list of the excluded
commodities.
(c) Totals may not add due to rounding.
Based on ABS trade data on DFAT STARS database, ABS catalogue 5368.0.55.003 and
unpublished ABS data.
(a) Goods trade is on a recorded trade basis. Services trade is on a balance of payments basis.
(b) Excludes imports of large aircraft which are treated confidentially by the ABS. DFAT
estimates aircraft imports would rank within Australia’s top 20 imports with a value around
$4.4 billion in 2017-18.
(c) DFAT estimate for 2016-17 and 2017-18.
(d) Includes Related agency fees & commissions.
(e) Total imports on a balance of payments basis.
Based on ABS trade data on DFAT STARS database and ABS catalogues 5302.0 & 5368.0.
Australia’s Imports by Sector(a) 2017-18
GOLD
$6.1B
INTERMEDIATE
CAPITAL GOODS & OTHER
$73.8B $120.6B
SERVICES
$93B
CONSUMPTION
GOODS
$101.9B
1. USA
2. UNITED $1,561B
KINGDOM
$815B 3. JAPAN
4. BELGIUM $344B
$310B 5. HONG KONG
(SAR OF CHINA)
$164B
($ million)
Rank (b)
Country Direct investment Total investment(c)
($ million)
Rank (b)
Country Direct investment Total investment(c)
1000
800
600
$ billion
400
200
0
UNITED UNITED BELGIUM JAPAN HONG KONG(a)
STATES KINGDOM
Australia’s
800 Top 5 Total Investment Abroad Destinations at the end of 2017
700
600
500
$ billion
400
300
200
100
0
UNITED UNITED JAPAN NEW CHINA
STATES KINGDOM ZEALAND
Based on ABS catalogue 5352.0.
1500
$ billion
1000
500
0
DIRECT PORTFOLIO FINANCIAL OTHER
INVESTMENT INVESTMENT DERIVATIVES INVESTMENT(a)
(a) Includes loans, trade credit, currency, deposits and reserve assets.
Based on ABS catalogue 5352.0.
200
150
$ billion
100
50
0
UNITED JAPAN UNITED NETHERLANDS CHINA
STATES KINGDOM
OTHER
$190.4B
MINING
$315.3B
CONSTRUCTION
$24.9B
WHOLESALE &
RETAIL TRADE
$55B
120
90
$ billion
60
30
0
UNITED UNITED NEW SINGAPORE PAPUA
STATES KINGDOM ZEALAND NEW GUINEA
OTHER
$25.5B
CONSTRUCTION
$9.9B
REAL ESTATE
ACTIVITIES
$18.9B
MANUFACTURING
$113.8B
MINING
$98.7B
48 TRADE AND INVESTMENT AT A GLANCE 2019 TRADE AND INVESTMENT AT A GLANCE 2019 49
APEC has delivered substantial benefits to businesses and consumers in
the region, including through its work to address trade barriers at and
behind the border, and build the capacity of developing economies to
improve their participation in global trade networks.
Australia’s 2017 Foreign Policy White Paper recognises that Australia’s
interests are served by our independent and global efforts to encourage
sustainable development and reduce poverty.
In 2017-18, Australia’s two-way merchandise trade with our ongoing
bilateral development partnership countries1 was valued at $37.2 billion.
Over the past decade since 2007-08, two-way trade with these countries
has increased by 3.1 per cent per annum. Australia’s exports to these
countries grew by 4.1 per cent per annum, while imports grew by
2.1 per cent per annum over the same period.
Australia has provided Least Developed Countries2 (LDC) full duty-free
and quota-free access into Australia since 2003. 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.
An LDC Services Waiver allows WTO members to grant preferences to
provide LDCs access to their markets with the objective of enhancing LDC
participation in global services trade.
Australia’s notification of preferential treatment for LDC service suppliers
covers tourism, transport (maritime, air, rail, road and auxiliary services)
and business services (computer, professional and other business
services).
Mexico
AANZFTA Pacific Alliance
PACER plus
Legend
Cook Islands
Kiribati AANZFTA ASEAN-Australia-New Zealand
In force Free Trade Area
Regional FTA Nauru
CPTPP Comprehensive and Progressive Agreement
Concluded Niue for Trans-Pacific Partnership
but not yet in force
Trading partner Samoa PACER Plus Pacific Agreement on
(no bilateral FTA) Closer Economic Relations Plus
Under Solomon Islands
negotiation RCEP Regional Comprehensive
Tonga Economic Partnership
Prospective Tuvalu
Vanuatu
FTA Portal
DFAT’s FTA Portal helps businesses explore the benefits of Australia’s
FTAs. Goods and services exporters and importers can find comprehensive
information on tariffs and services commitments and guidance on rules of
origin and market data.
The Portal will be updated as new agreements come into force. For more
information visit www.ftaportal.dfat.gov.au
Overview of Trade Negotiations
FTAs concluded but not yet in force:
PERU-AUSTRALIA
Free Trade Agreement
INDONESIA-AUSTRALIA
Comprehensive Economic Partnership Agreement
HONG KONG-AUSTRALIA
Free Trade Agreement
HEAD OFFICE
Canberra 02 6261 1111
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NEW SOUTH WALES STATE OFFICE
Sydney (DFAT switchboard) 02 6261 1111
www.dfat.gov.au/trade
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