In the 2018-2019 fiscal year, China took in about 32.6% of all Australian exports — that is about 153.2 billion Australian dollars ($116.79 billion). By far the largest export was iron ore.
How much does Australia export to China?
China has been buying more goods from Australia this year even as their trade spat shows no signs of abating. The value of Australia’s exports to China has jumped 24% from a year ago, to reach over $180 billion Australian dollars ($135 billion) as of the latest August data, according to research firm Oxford Economics.
How much does Australia trade with China?
In 2018, annual two-way trade between China and Australia reached almost AUD 215 billion. Iron ore, gas and coal make up the bulk of Australian exports to China (more than AUD 79 billion), but Australian service industries – led by education and tourism – are a growing part of the trade relationship.
What percentage of Australian goods are made in China?
Ninety per cent of Australia’s merchandise imports are from China and, of those, 90% are elaborately-transformed manufactures.
What are the top 3 Australian exports?
List of exports of Australia
|#||Commodity||% share of exports|
|1||Iron ores & concentrates||15.2|
Does China rely on Australia?
China is Australia’s biggest trading partner mainly due to China’s strong demand for iron ore, coal and liquefied natural gas. Exports to China helped Australia escape the worst effects of the global financial crisis.
Does Australia have a trade surplus with China?
China accounts for around 80pc of Australia’s iron ore exports. … The A$9.7bn trade surplus with China exceeded the previous record trade surplus with the world’s largest steel producer of A$8.5bn in June 2019.
What would happen if China stopped trade with Australia?
A cut tie on China trade/diplomacy would net lost 231 billion dollars annually!! Consider Australia GDP 2019 was 1,420 billion dollars, net loss is 16% GDP annually. 4.1 billion dollar budget surplus.
What has China stopped buying from Australia?
China’s government has hit several Australian industries with economic sanctions, imposing hefty tariffs on Australian barley and wine exports while throwing up barriers to several other products including timber, lobster and coal. But it has typically not framed these decisions as acts of political retaliation.
Will China stop trading with Australia?
China has “indefinitely” suspended key economic dialogue with Australia, the latest in a growing diplomatic rift between both countries.
How much does Australia depend on China?
GT survey shows 49.6% say Australia ‘too dependent’ on China economically – Global Times. Almost half of the Chinese participating in the latest Global Times survey believe that Australia is “too dependent” on China in terms of its economy, up by 6.4 percentage points compared with a year ago.
Where in the world does Australia send its food and produce to?
The majority of the agricultural commodities produced in Australia are sold to international markets with 80% of all wheat, 90% of all wool and over 50% of barley being exported to various international destinations. The top consumers of these commodities include China, the United States, Japan, and Indonesia.
What is Australia’s most profitable export?
Australia’s main export is iron ore, followed by their other most valuables exports coal, gold, and petroleum. These exports alone rake in $48.2 billion, $47 billion, $29.1 billion, and $20.3 billion, respectively. Of course, the country also ships other noteworthy items including food, wine, and cars.
What is Australia’s main export?
Despite the fall in iron ore prices and the correspondent drop in export revenue, iron ore remains Australia’s largest export, followed by coal. These two commodities alone represent over a quarter of all export earnings.