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Australian service exports rise 10 percent

Australian service exports rise 10 percent article image

The value of Australian service exports increased 10.4 percent to $53.2 billion last year, according to a report by the Department of Foreign Affairs and Trade (DFAT). Topping the service exports was education, which registered a rise of more than 23 percent to $15.5 billion. 'Other business', such as technical, professional and financial services, saw a 16.9 percent growth, while transportation services lifted by 7.1 percent. Australia's largest destination market for service exports was the USA, followed by the UK and then China. The DFAT report showed that since 2003, the value of services trade has increased by an average of 8.4 percent a year. In 2008, trade in services accounted for almost 20 percent of Australia's total trade of goods and services.

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