Australia All Relevant Import and Export Statistics that you Must Know

 As per Import Export Data the country exported a total of $250B making it number 22 exporter in the world. International trade and investment is critical to the Australian economy. Australia is a relatively open, trade exposed economy. This means changes in other country’s demand for goods and services can have significant implications for the economy.

As per Australia Export Data, the main exports are Iron Ore, Coal Briquettes, Petroleum gas, Gold, and Frozen Bovine Meat. The main export partners are China, Japan, Republic of Korea, and United States.

The iron ore exported by Australia to China in 2021 amounted to 130 billion Australian dollars. China was far the leading export destination for Australian iron ore in terms of value. The country exports the most iron ore worldwide due to the fact that it also has the world’s largest reserves of iron ore.

In 2020, Australia exported $36.4B in coal briquettes, making it the first largest exporter of coal briquettes in the world. Also, the coal briquettes was the second most exported product of Australia. The countries were coal briquettes exported were Vietnam, Pakistan, and Chile.

As per Australia Import Data, the main imports of the country are machinery, and transport equipment, industrial machinery, electrical machinery, cars, refined petroleum, gold, and computers.

The main import partners of Australia are United States, China, Japan, Thailand, Germany, Malaysia, South Korea, Singapore and New Zealand.

The country imports more cars from Japan, South Korea, Germany, Thailand and United States. Australia imports refined petroleum from Singapore, South Korea, China, Malaysia and India. The refineries of the country import roughly 83% of the crude oil from more than 17 countries, mainly Asia, and Africa.

It is entirely reliant on overseas imports for its fuel. The demand for diesel and jet fuel exceeds the total local refinery production and Australia is a price taker on the global markets. The fuel users in the country are exposed to level of international disruption risk given our reliance of fuel imports to meet the demand.

The country imports everything ranging from computers and generators to centrifugal pump, which are essentially capital goods that help the Australians, make their goods. Representing about 14% of Australian imports machinery formed Australia’s largest import in 2018.

Vehicles accounted over 13% of the Australia’s imports. This included cars, trucks, automobile parts, tractors, and more. Cars alone accounted for $24.3 billion of imports.

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