Australian Trade and Export Updates (2022 Edition)

Australia is a country located south of Japan, and because of its geographical proximity to Asian countries, it has closer economic and diplomatic ties with Asian countries than Europe. For example, APEC (Asia-Pacific Economic Cooperation), which includes 21 countries and regions in the Asia-Pacific region, was created when a former Australian Prime Minister advocated economic cooperation with Asian countries. According to the latest statistics from the Australian Bureau of Statistics (ABS), the trade balance in September 2022 was in surplus and the surplus size has expanded, indicating the stability of trade.

What is the Japan-Australia Economic Partnership Agreement (JAEPA) with Australia?

First of all, do you know what an economic partnership agreement is? An economic partnership agreement is a comprehensive agreement concluded between two or more countries (or regions) that includes elements of a free trade agreement (liberalization of trade in goods and services) as well as areas other than trade, such as protection of intellectual property, investment, government procurement, bilateral cooperation, etc. Japan has currently concluded such agreements with 18 countries and has had one with Australia since 2015.

Australia's main trade items

Well, what comes to mind when you hear about Australia's export and import items? Australia is one of the world's leading resource-rich countries. Let's take a closer look at the details below.

export

Australia's main exports are coal and coke, iron ore, gold, natural gas, meat and meat products, etc. As for food products, "meat" such as beef, "grains" such as wheat, and "fruit and vegetables" account for the majority. In addition, the export value of food products is significantly higher than the import value.

Import

Australia's main import items are automobiles and motorcycles, industrial machinery, communication and audio equipment, pharmaceuticals, etc. In terms of food-related items, the import amount is lower than the export amount in most categories, but "coffee, tea, and spices" is the only category where the import amount is higher.

Australia's main trading partners

So far we have looked at Australia's main trade items, but what countries are Australia's trading partners? Let's take a look at the details of Australia's trade in 2020 by import and export below.

export

Australia's main export destinations are China, Japan, South Korea, the United States, and Taiwan. Of the total share, China accounts for about 40% and Japan for about 10%. Another characteristic is that many of Australia's export destinations are geographically close countries.

Import

Australia's main import partners are China, the United States, Japan, Thailand, Germany, etc. Of the total share, China is the largest at about 30%, followed by the United States at about 10% and Japan at about 60%.

About Japan-Australia trade

What is the current state of trade between Japan and Australia? Japan and Australia have a complementary relationship and are said to be compatible as trading partners. Let's take a closer look.

Japan-Australia trade volume

The trade volume between Japan and Australia in fiscal 2020 is as follows. Japan's total exports to Australia was approximately 1.2954 trillion yen. On the other hand, Japan's total imports from Australia was approximately 3.8313 trillion yen.

Main trade items

Japan's exports to Australia include automobiles, which account for more than half of the total, as well as machinery, petroleum products, tyres and tubes, and auto parts.

Japan's imports from Australia include liquefied natural gas, which accounts for about 30% of the total, as well as coal, iron ore, copper ore, and meat.

If you want to start trading with Australia, use DigiTrad

This time we brought you "Basic knowledge of Australian trade and exports (updated 2022)".

STANDAGE uses its own trade cloud service to provide "Digitrad", a service that can "completely" handle trade for small and medium-sized enterprises. "Digitrad" allows you to develop overseas sales channels at low cost thanks to the application of IT introduction subsidies. We can also handle small-scale, low-value trade and domestic purchases that cannot be done by large trading companies, so please feel free to contact us.

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