Foreign Minister and Acting Minister for Trade
5 November, 2009
Exports up as China becomes Australia's biggest trading partner
Exports of Australian goods and services rose 5 per cent to be worth $20.2 billion in September.
Figures released this morning by the Australian Bureau of Statistics (ABS) showed the rise in exports was matched by a rise in imports delivering a trade deficit of $1.85 billion for the month.
Accompanying data released by the ABS revealed China had replaced Japan as Australia’s largest two-way trading partner for 2008-09. Total trade with China increased by 30 per cent to $83 billion in 2008-2009.
The strong growth in China, in particular over the past few years, has supported Australian growth and Australian jobs.
The fact that China is again our largest goods and services trading partner is evidence of the growing links between our two economies.
The rise in exports in September was offset by a 5 per cent rise in imports as Australia recorded its fifth consecutive trade deficit.
The 5 per cent rise in exports is welcome at a time when both prices and the strengthening Australian dollar are working against Australian exporters.
The value of services exports rose 3 per cent in September to a new record of $4.7 billion.
The value of resource exports also rose 3 per cent, rural sector exports fell 4 per cent and manufactured exports were unchanged.
Media contacts:
- Mr Smith's office 02 6277 7500
- Departmental Media Liaison 02 6261 1555