This is a list of the largest two-way trading partners of Australia, based on data released by the Australian Department of Foreign Affairs and Trade for the 2022 calendar year. [1]
The 10 largest trading partners of Australia with their total trade (sum of imports and exports) in millions of Australian dollars and the total trade for all countries for the 2022 calendar year were as follows: [2]
Rank | Country/District | Exports | Imports | Total Trade | Trade Balance |
---|---|---|---|---|---|
1 | China | 185,141 | 114,224 | 299,365 | 70,917 |
2 | Japan | 119,889 | 27,428 | 147,317 | 92,461 |
3 | European Union | 31,816 | 76,650 | 108,466 | -44,833 |
4 | United States | 30,690 | 56,621 | 87,310 | -25,931 |
5 | South Korea | 53,990 | 27,869 | 81,858 | 26,121 |
6 | Singapore | 24,009 | 28,888 | 52,897 | -4,879 |
7 | Taiwan | 30,609 | 12,127 | 42,735 | 18,482 |
8 | India | 34,921 | 13,538 | 48,458 | 21,383 |
9 | New Zealand | 18,109 | 13,271 | 31,380 | 4,839 |
10 | Thailand | 8,996 | 18,697 | 27,693 | -9,701 |
Total all economies [2] | 670,552 | 530,348 | 1,200,900 | 140,204 |
The 15 largest export markets of Australia in millions of Australian dollars for the 2022 calendar year were as follows: [2]
Rank | Country/District | Value (A$ million) | Share of overall exports |
---|---|---|---|
1 | China | 185,141 | 27.6% |
2 | Japan | 119,889 | 17.9% |
3 | South Korea | 53,990 | 8.1% |
4 | India | 34,921 | 5.2% |
5 | United States | 30,690 | 4.6% |
6 | Taiwan | 30,609 | 4.6% |
7 | Singapore | 24,009 | 3.6% |
8 | New Zealand | 18,109 | 2.7% |
9 | Vietnam | 15,341 | 2.3% |
10 | Malaysia | 15,193 | 2.3% |
11 | Indonesia | 14,663 | 2.2% |
12 | Hong Kong | 9,326 | 1.4% |
13 | Netherlands | 9,176 | 1.4% |
14 | Thailand | 8,996 | 1.3% |
15 | United Kingdom | 8,693 | 1.3% |
The 15 largest import sources to Australia in millions of Australian dollars for the 2022 calendar year were as follows: [2]
Rank | Country/District | Value (A$ million) | Share of overall imports |
---|---|---|---|
1 | China | 114,224 | 21.5% |
2 | United States | 56,621 | 10.7% |
3 | Singapore | 28,888 | 5.4% |
4 | South Korea | 27,869 | 5.3% |
5 | Japan | 27,428 | 5.2% |
6 | Germany | 22,799 | 4.3% |
7 | Thailand | 18,697 | 3.5% |
8 | Malaysia | 18,167 | 3.4% |
9 | United Kingdom | 16,178 | 3.1% |
10 | India | 13,538 | 2.6% |
11 | New Zealand | 13,271 | 2.5% |
12 | Taiwan | 12,127 | 2.3% |
13 | Vietnam | 10,340 | 1.9% |
14 | Italy | 9,944 | 1.9% |
14 | Indonesia | 8,643 | 1.6% |
The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. In 2018, Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion. The Toronto Stock Exchange is the tenth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$3 trillion.
The economy of the Dominican Republic is the seventh largest in Latin America, and is the largest in the Caribbean and Central American region. The Dominican Republic is an upper-middle income developing country with important sectors including mining, tourism, manufacturing, energy, real estate, infrastructure, telecommunications and agriculture. The Dominican Republic is on track to achieve its goal of becoming a high-income country by 2030, and is expected to grow 79% in this decade. The country is the site of the single largest gold mine in Latin America, the Pueblo Viejo mine. Although the service sector is currently the leading employer of Dominicans, agriculture remains an important sector in terms of the domestic market and is in second place in terms of export earnings. Tourism accounts for more than $7.4 billion in annual earnings in 2019. Free-trade zone earnings and tourism are the fastest-growing export sectors. A leading growth engine in the Free-trade zone sector is the production of medical equipment for export having a value-added per employee of US$20,000, total revenue of US$1.5 billion, and a growth rate of 7.7% in 2019. The medical instrument export sector represents one of the highest-value added sectors of the country's economy, a true growth engine for the country's emerging market. Remittances are an important sector of the economy, contributing US$8.2 billion in 2020. Most of these funds are used to cover household expenses, such as housing, food, clothing, health care and education. Secondarily, remittances have financed businesses and productive activities. Thirdly, this combined effect has induced investment by the private sector and helps fund the public sector through its value-added tax. The combined import market including the free-trade-zones amounts to a market of $20 billion a year in 2019. The combined export sector had revenues totaling $11 billion in 2019. The consumer market is equivalent to $61 billion in 2019. An important indicator is the average commercial loan interest rate, which directs short-term investment and stimulates long-term investment in the economy. It is currently 8.30%, as of June 2021.
The economy of Indonesia is a mixed economy with dirigiste characteristics, and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Indonesia nominal GDP reached 20.892 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However, micro, medium and small companies contribute around 61.7% of the economy and significant major private owned companies and foreign companies are also present
The economy of Nauru is tiny, based on a population in 2019 of only 11,550 people. The economy has historically been based on phosphate mining. With primary phosphate reserves exhausted by the end of the 2010s, Nauru has sought to diversify its sources of income. In 2020, Nauru's main sources of income were the sale of fishing rights in Nauru's territorial waters, and revenue from the Regional Processing Centre.
The economy of New Zealand is a highly developed free-market economy. It is the 52nd-largest national economy in the world when measured by nominal gross domestic product (GDP) and the 63rd-largest in the world when measured by purchasing power parity (PPP). New Zealand has one of the most globalised economies and depends greatly on international trade, mainly with China, Australia, the European Union, the United States, and Japan. New Zealand's 1983 Closer Economic Relations agreement with Australia means that the economy aligns closely with that of Australia. Among OECD nations, New Zealand has a highly efficient and strong social security system; social expenditure stood at roughly 19.4% of GDP.
The economy of Vietnam is a developing mixed socialist-oriented market economy. It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization.
The government of the Marshall Islands is the largest employer, employing 30.6% of the work force, down by 3.4% since 1988. GDP is derived mainly from payments made by the United States under the terms of the amended Compact of Free Association. Direct U.S. aid accounted for 60% of the Marshall Islands' $90 million budget.
Foreign trade of Argentina includes economic activities both within and outside Argentina especially with regards to merchandise exports and imports, as well as trade in services.
Trade is a key factor of the economy of China. In the three decades following the dump of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
The Republic of India and the Federal Republic of Nigeria have built strategic and commercial ties. Both are members of the Commonwealth of Nations and the Non-Aligned Movement. India has a High Commission in Abuja and a Consulate in Lagos, and Nigeria has a High Commission in New Delhi. Indian business firms have invested estimated $15 billion in Nigeria. India is Nigeria's leading investor, with a investment base of about $20 billion. The figures on the amount of Nigeria's investment in India if any are not known.
Foreign trade of the United States comprises the international imports and exports of the United States. The country is among the top three global importers and exporters.
Diplomatic relations between the Commonwealth of Australia and the Kingdom of Norway were established in 1947.
Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government, trade is administered by the Ministry of Commerce and Industry. Foreign trade accounted for 48.8% of India's GDP in 2018.