You are here:   Home/ Economic Issues/ Statistics & Data

Asia’s Economic Growth Drives Record High in Australia’s Trade Surplus in 2011, September 19, 2014 Adjust font size:

Asia’s Economic Growth Drives Record High in Australia’s Trade Surplus in 2011
According to the statistics by Australian Bureau of Statistics, Australia’s total goods and services trade totaled A$607.359 billion in 2011, up 9.89% from 2010. Among that, exports were A$313.346 billion, up 10.35% from 2010, exceeding A$300 billion in exports for the first time for a calendar year. Imports were A$%294.013 billion, up 9.41% from 2010. The trade surplus reached a record high of A$19.333 billion.

Australia’s goods exports totaled A$263.956 billion, up 13.67% over 2010; goods imports were A$234.889 billion, up 10.23% over 2010. Goods trade surplus was A$29.067 billion. Services exports totaled A$49.390 billion, a 4.55% decrease from 2010; services imports were A$59.124 billion, a 6.27% increase from 2010. Services trade deficit was A$9.734 billion.

from 2010. Exports were A$72.152 billion, up 23.51% from 2010, accounting for 27.33% of Australia’s overall exports in 2011. Australia’s goods imports from China were A$42.152 billion, up 7.38% from 2010, accounting for 17.95% of Australia’s overall imports in 2011. Australia has a goods trade surplus of A$30 billion with China in 2011.

Australia’s trade surplus hit a record high of A$19.3 billion in 2011. Demand from fast-growing Asian economies drove Australia’s robust export growth, mainly by minerals and rural goods. Total goods exports to North Asia rose 18% for the year, with exports to China up 24% and ASEAN up 23%.

Australian Trade Minister Craig Emerson said the data, from the Australian Bureau of Statistics, attested to the strength of the Australian economy and the importance of its engagement with Asia. Australia has good relations with China, India, Indonesia and Malaysia, and benefited from their strong economic growth. Through Prime Minister Gillard's Asian Century White Paper project, the Government is developing policies for even stronger integration of the Australian economy with those of the Asian region.
(Source: Ministry of Commerce Website)
Bookmark and Share

Related News & Photos