The Department of Foreign Affairs and Trade of Australia released the Composition of Trade Australia 2010 report today. The following are some of the key takeaways from the report:
- In 2010, China was the largest trade partner of Australia with total trade growing 23.6% to over A$100 billion for the first time which lead to a trade surplus of A$16.8 billion.
- The top commodity exports to China were of iron ore and concentrates, coal and other ores.
- Japan remained the second largest two-way trade partner followed by USA.
- Australia’s exports increased 13.9% to A$284.6 billion and imports rose by 5.4% to A$267.8 billion last year.
- After China, Japan was the second largest export market for Australia followed by South Korea.
Australia’s Major Trade Partners in 2010
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Australia’s Top 10 Merchandise Exports and Imports in 2010
Source: Composition of Trade Australia 2010
Related:
Australia’s Major Trading Partners in 2012
Related ETF:
iShares MSCI Australia Index Fund (EWA)
Disclosure: No Positions
