Australian trading partners

I still can not believe the lack of research in some of the opinion pieces in the newspaper. China is not our biggest trading partner.

Here are the facts (from the ABS May 2005 Trade figures) and this release from ABS from 2004

Trading partners (AUS$) overall
#1 US -$10.9 Billion
#2 Japan +$6.7 Billion
#3 Germany -$6.7 Billion
#4 China -$6.6 Billion
#5 South Korea +$4.3 Billion

Go and read these publications, they are free and they will set the record straight. The most interesting facts are what each of these countries trades with Australia. Most of the trade from the US and Germany (and France) is capital goods.

How many years of cultural cringe have we had to put up with when Australia is called a commodity economy, somehow implying with a certain smugness the backward nature of our gold plated BBQ economy (Meat,Bread (wheat), gold, iron and coal/coke).
It is our comparative advantage!

The other interesting fact is the growth of India and China and the massive trade we do with our New Zealand friends. Given the potential size of both India and China compared to NZ the trade potential is enormous.

Have Fun