Australia2021 Economic Complexity Trade : -0.41, Rank 82 of 131
2021 Economic Complexity Technology : 1.11, Rank 13 of 96
2021 Economic Complexity Research : 2.08, Rank 4 of 140
2021 Product Exports | Imports: $343B | $251B, 20 of 226 | 24 of 226
2021 Per Capita Product Exports | Imports: $13.3k | $9.74k, 32 of 219 | 63 of 219
Overview In 2021, Australia was the number 13 economy in the world in terms of GDP (current US$), the number 20 in total exports, the number 24 in total imports, the number 12 economy in terms of GDP per capita (current US$) and the number 82 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Australia are Iron Ore ($118B), Coal Briquettes ($54.3B), Petroleum Gas ($39.2B), Gold ($17.6B), and Wheat ($7.36B), exporting mostly to China ($138B), Japan ($47B), South Korea ($29.4B), India ($20.5B), and Chinese Taipei ($13.2B).
In 2021, Australia was the world's biggest exporter of Iron Ore ($118B), Coal Briquettes ($54.3B), Raw Nickel ($3.71B), Wool ($2.28B), and Zinc Ore ($2B)
Imports The top imports of Australia are Refined Petroleum ($19.6B), Cars ($18.8B), Delivery Trucks ($8.08B), Broadcasting Equipment ($6.68B), and Computers ($6.61B), importing mostly from China ($70B), United States ($25.7B), Japan ($15.3B), Thailand ($12.1B), and Germany ($11.6B).
In 2021, Australia was the world's biggest importer of Sodium or Potassium Peroxides ($673M) and Other Sea Vessels ($521M)
Location Australia borders Timor-Leste, Indonesia, New Zealand, Papua New Guinea, Solomon Islands, and New Caledonia by sea.
March, 2023
Overview In March 2023 Australia exported AUD47.8B and imported AUD32.6B, resulting in a positive trade balance of AUD15.2B. Between March 2022 and March 2023 the exports of Australia have increased by AUD4.01B (9.17%) from AUD43.8B to AUD47.8B, while imports decreased by AUD-208M (-0.63%) from AUD32.8B to AUD32.6B.
Trade In March 2023, the top exports of Australia were Crude fertilizers and crude minerals (AUD70.2B), Metalliferous ores and metal scrap (AUD44.9B), Coal,coke and briquettes (AUD27.3B), Vegetables and fruit (AUD16.4B), and Meat and meat preparations (AUD15.5B). In March 2023 the top imports of Australia were Electric machinery,n.e.s.and parts (AUD43.7B), General industrial machinery n.e.s. (AUD35.1B), Medicinal and pharmaceutical products (AUD33.7B), Machinery for specialized industries (AUD29.7B), and Telecommunications and sound recording equipm (AUD23.3B).
Origins In March 2023 the exports of Australia were mainly from Western Australia (AUD24.8B), Queensland (AUD9.35B), New South Wales (AUD8.02B), Victoria (AUD3.21B), and South Australia (AUD1.74B), while imports destinations were mainly New South Wales (AUS13.8B), Victoria (AUS9.52B), Queensland (AUS5.98B), Western Australia (AUS3.88B), and South Australia (AUS1.28B).
Destinations In March 2023, Australia exported mostly to chn (AUD19B), jpn (AUD8.38B), kor (AUD3.17B), twn (AUD2.41B), and sgp (AUD2.01B), and imported mostly from China (AUD8.8B), United States (AUD3.85B), Japan (AUD2.55B), South Korea (AUD2.2B), and Malaysia (AUD1.66B).
EXPORT GROWTH (March 2022 - March 2023): AUD4.01B, (9.17%)
IMPORT GROWTH (March 2022 - March 2023): AUD-208M, (-0.63%)
MAIN EXPORTER (March 2023): Western Australia, AUD24.8B
MAIN DESTINATION (March 2023): China, AUD19B
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 2021, Australia exported a total of $343B, making it the number 20 exporter in the world. During the last five reported years the exports of Australia have changed by $139B from $204B in 2016 to $343B in 2021.
The most recent exports are led by Iron Ore ($118B), Coal Briquettes ($54.3B), Petroleum Gas ($39.2B), Gold ($17.6B), and Wheat ($7.36B). The most common destination for the exports of Australia are China ($138B), Japan ($47B), South Korea ($29.4B), India ($20.5B), and Chinese Taipei ($13.2B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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 (38.3), Iron Ore (32.9), Sheep Hides (24.9), Other Mineral (24.4), and Coal Briquettes (23.4). 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, rods, profiles and wire (1.14), Signalling, safety or traffic control equipment; for railways, tramways, roads, inland waterways,... (1.03), Machines and appliances, instruments or apparatus of chapter 90; parts and accessories... (0.95), Wheat gluten; whether or not dried (0.5), and Mechano-therapy, massage appliances; psychological aptitude testing apparatus; ozone, oxygen, aerosol therapy, artificial... (0.47). 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, were Soybeans (0.15), Crude Petroleum (0.14), Chromium Ore (0.14), Maté (0.14), and Lignite (0.13). 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 82nd 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.
Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
v5.1.15 owl