Australia2020 Economic Complexity : -0.31, Rank 74 of 127
2020 Product Exports | Imports: $250B | $202B, 22 of 226 | 24 of 226
2020 Per Capita Product Exports | Imports: $9.73k | $7.85k, 21 of 219 | 59 of 219
2020 Service Exports | Imports : $46.1B | $35B, 20 of 65 | 20 of 65
Overview In 2020, Australia was the number 13 economy in the world in terms of GDP (current US$), the number 22 in total exports, the number 24 in total imports, the number 16 economy in terms of GDP per capita (current US$) and the number 74 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Australia are Iron Ore ($79.6B), Coal Briquettes ($36.4B), Petroleum Gas ($26.8B), Gold ($17.7B), and Frozen Bovine Meat ($4B), exporting mostly to China ($102B), Japan ($31.8B), South Korea ($17.2B), United States ($11.6B), and India ($11.3B).
In 2020, Australia was the world's biggest exporter of Iron Ore ($79.6B), Coal Briquettes ($36.4B), Aluminium Oxide ($3.59B), Sheep and Goat Meat ($2.7B), and Wool ($1.58B)
Imports The top imports of Australia are Cars ($13.7B), Refined Petroleum ($10.8B), Gold ($6.49B), Broadcasting Equipment ($6.38B), and Computers ($5.76B), importing mostly from China ($57.2B), United States ($24.2B), Japan ($12.2B), Thailand ($10.4B), and Germany ($9.67B).
In 2020, Australia was the world's biggest importer of Sodium or Potassium Peroxides ($502M) and Horsehair Fabric ($2.06M)
Location Australia borders Timor-Leste, Indonesia, New Zealand, Papua New Guinea, Solomon Islands, and New Caledonia by sea.
November, 2022
Overview In November 2022 Australia exported AUD46.5B and imported AUD34.2B, resulting in a positive trade balance of AUD12.3B. Between November 2021 and November 2022 the exports of Australia have increased by AUD9.62B (26.1%) from AUD36.9B to AUD46.5B, while imports increased by AUD5.06B (17.4%) from AUD29.1B to AUD34.2B.
Trade In November 2022, the top exports of Australia were Crude fertilizers and crude minerals (AUD62.5B), Metalliferous ores and metal scrap (AUD36.2B), Coal,coke and briquettes (AUD31.6B), Gas,natural and manufactured (AUD17B), and Non-ferrous metals (AUD15B). In November 2022 the top imports of Australia were Electric machinery,n.e.s.and parts (AUD48.1B), General industrial machinery n.e.s. (AUD40.3B), Medicinal and pharmaceutical products (AUD37.1B), Telecommunications and sound recording equipm (AUD28.3B), and Machinery for specialized industries (AUD26.1B).
Origins In November 2022 the exports of Australia were mainly from Western Australia (AUD22.6B), Queensland (AUD10.8B), New South Wales (AUD8.92B), Victoria (AUD2.93B), and Not Available (AUD989M), while imports destinations were mainly New South Wales (AUS14.4B), Victoria (AUS10.2B), Queensland (AUS6.6B), Western Australia (AUS4.2B), and South Australia (AUS1.21B).
Destinations In November 2022, Australia exported mostly to chn (AUD15.7B), jpn (AUD10.4B), kor (AUD3.27B), twn (AUD1.94B), and ind (AUD1.83B), and imported mostly from China (AUD10.5B), United States (AUD4.03B), South Korea (AUD2.31B), Japan (AUD2.16B), and Malaysia (AUD1.71B).
EXPORT GROWTH (November 2021 - November 2022): AUD9.62B, (26.1%)
IMPORT GROWTH (November 2021 - November 2022): AUD5.06B, (17.4%)
MAIN EXPORTER (November 2022): Western Australia, AUD22.6B
MAIN DESTINATION (November 2022): China, AUD15.7B
This section shows exports and imports data at subnational level for Australia. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Australia over time.
For full datasets download visit Bulk Download page.
Disclaimer: Australia reports partners and products from different sources so datasets total trade value may vary from each other.
In 2020, Australia exported a total of $250B, making it the number 22 exporter in the world. During the last five reported years the exports of Australia have changed by $44.7B from $205B in 2015 to $250B in 2020.
The most recent exports are led by Iron Ore ($79.6B), Coal Briquettes ($36.4B), Petroleum Gas ($26.8B), Gold ($17.7B), and Frozen Bovine Meat ($4B). The most common destination for the exports of Australia are China ($102B), Japan ($31.8B), South Korea ($17.2B), United States ($11.6B), and India ($11.3B).
Australia Exports Services (2020): $46.1B
Australia Imports Services (2020): $35B
In 2020, Australia exported $46.1B worth of services. The top services exported by Australia in 2020 were Personal travel ($25.3B), Miscellaneous business, professional, and technical services ($7.06B), Transportation ($3.23B), Financial services ($3.21B), and Other personal, cultural, and recreational services ($3.11B).
The top services imported by Australia in 2020 were Miscellaneous business, professional, and technical services ($9.82B), Transportation ($9.11B), Personal travel ($6.05B), Financial services ($2.01B), and Other royalties and license fees ($1.69B).
Australia has a high level of specialization in Wool (42.1), Iron Ore (37.7), Coal Briquettes (25.6), Sheep and Goat Meat (24.4), and Other Mineral (20.9). Specialization is measured using RCA, an index that takes the ratio between Australia observed and expected exports in each product.
The highest complexity exports of Australia according to the product complexity index (PCI) are Nickel Bars (1.18), Fairground Amusements (0.8), Opto-Electric Instrument Parts (0.77), Peptones (0.59), and Nickel Powder (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Australia according to the relatedness index, are Chromium Ore (0.16), Crude Petroleum (0.15), Maté (0.15), Soybeans (0.15), and Ground Nuts (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Australia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Australia's economy has become relatively less complex, moving from the 26th to the 74th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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