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Australia’s trade with East Asia soars in 2013

Australia’s trade with East Asia soars in 2013 article image

Australia’s trade with East Asia grew to $366.7 billion in 2013 – up 7.6 per cent on the previous year, according to new industry data.  

And exports to East Asia increased 10.6 per cent to $218.8 billion.  

The figures were contained in Australia’s Trade with East Asia report released recently by the Department of Foreign Affairs and Trade (DFAT).  

Iron ore exports to East Asia accounted for over a quarter of total exports, valued at $69.5 billion.  

Gold (up 30.5 per cent), beef (up 24.6 per cent) and other ores and concentrates – mainly manganese, lead and zinc ores and concentrates (up 15.1 per cent) all grew strongly in 2013.  

Australia’s balance of trade in goods and services with East Asia recorded a surplus of $71 billion in 2013, an increase of 28.5 per cent (or $15.8 billion) on the surplus recorded the previous year.  

China remained Australia’s largest trading partner in East Asia in 2013. China was also the largest partner for both exports and imports of goods and services.  

Japan was the second largest partner for two-way trade, exports and imports of goods and services.  

ASEAN accounted for 25.2 per cent of Australia’s two-way trade with East Asia, valued at $92.6 billion in 2013 (up 1.1 per cent)  

Australia’s major export markets for 2013 were:

  • China – up 28.1 per cent to $101.5 billion
  • Japan – down 1.0 per cent to $49.5 billion
  • The Republic of Korea – down 1.4 per cent to $21.3 billion
  • Singapore – down 11.1 per cent to $9.2 billion  

Another report, Australia’s Trade with Europe, valued trade between Australia and European companies at $91.1 billion in 2013 – down 1.9 per cent on 2012.  

And a third report, Australia’s Trade with the Americas, showed trade growth of $69.8 billion in 2013 – down 3.8 per cent on 2012.  

The value of exports to Europe and the Americas in 2013 was $26.3 billion and $21.1 billion respectively, with services exports accounting for around 40 per cent of exports to both markets.  

Australia’s top merchandise exports to Europe were coal ($2.6 billion), gold ($1.8 billion), oil seeds ($1.1 billion) and alcoholic beverages ($610 million).  

Beef ($1.2 billion), aircraft and parts ($720 million), coal ($681 million) and alcoholic beverages ($671 million) were the top merchandise exports to the Americas.  

Combined, East Asia, Europe and the Americas accounted for over 80 per cent of Australia's international trade in 2013.  

East Asia accounted for 56.6 percent, Europe 14.1 percent and the Americas 10.8 percent of total trade.  

The three new publications are part of a series of trade statistics on Australia's international trade in goods and services published each year by DFAT. 

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