Pattern of Trade
Patterns and Composition of Trade
Australia's Direction and Composition of Trade
Every year the Department of Foreign Affairs and Trade (DFAT) releases a report labelled the 'Composition of Australia's Trade' that includes sectors of trade growth and decline.
Key
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Primary Industry
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Secondary Industry
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Tertiary Industry
Australia's Top Exports (2015)
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Iron Ore and Concentrates
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Coal
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Education-related travel services
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Natural gas
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Personal travel
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Gold
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Beef
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Aluminium ores
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Crude petroleum
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Wheat
We can conclude that Australia's export sector is still based around primary industries of commodities and agricultural exports.
Exports Sector Growth
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Australian financial services have experienced the highest growth in exports at 30.3% growth over 5 years and is ranked 16th highest value export
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Australia's beef export growth has been the second highest over 5 years at 16.9% growth and is ranked Australia's 7th largest export
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Natural Gas exports have experienced the third highest sector growth over 5 years at 13% - Natural Gas is Australia's 4th largest export.
Export Sector Declines
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Crude Petroleum: -8.8% decline over 5 years, due to weakening oil prices
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Coal: -3.9% decline over 5 years, due to weakening coal price
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Aluminium: -3% decline over 5 years
Australia's Top Imports (2015)
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Personal travel
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Passenger Motor Vehicles (PMV)
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Refined petroleum
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Telecom equipment & parts
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Freight services
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Crude petroleum
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Computers
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Medicaments
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Goods vehicles (Transport vehicles)
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Passenger transport services.
We can conclude that Australia imports mainly secondary industries, in particular those of simply and elaborately transformed goods and services.
Import Sector Growth
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Heating Equipment and Parts - growth of 19.8% over 5 years
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Tubes & pipes of iron or steel - growth of 19.7% over 5 years
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Professional Services - growth of 17.9% over 5 years
Import Sector Declines
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Gold - decline of -10.5% over 5 years
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Crude Petroleum - decline of -8% over 5 years
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Civil Engineering and Parts - decline of -2.9% over 5 years
Changes in Australia's Trading Partners
Top Export Trading Partners
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China contributes to 28.8% of all exports - growth of 8.1% over 5 years
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Japan, contributes to 13.4% of all exports - decline of -1.5% over 5 years
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The United States contributes to 7% of all exports - growth of 8.4% over 5 years
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South Korea, contributes to 6.3% of all exports - decline of -2.7% over 5 years
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India contributes to 4.3% of all exports - decline of -9.3% over 5 years
Top Import Trading Partners
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China contributes to 18.2% of all imports - growth of 8.9% over 5 years
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The United States contributes to 13.6% of all imports - growth of 4.9% over 5 years
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Japan contributes to 6.4% of all imports - growth of 1.4% over 5 years
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South Korea contributes to 4.5% of all imports - growth of 16.3% over 5 years
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Thailand contributes to 4.4% of all imports - growth of 4.3% over 5 years
Top Two Way Trading Partners
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China
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United States
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Japan
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South Korea
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Singapore
References