Total exports
Total exports rose $1,770m (0.3%) in 2023.
The top 5 exporting partners for Australia were:
- China rose $33,613m (18.2%) to $218,801m
- Japan fell $29,729m (24.8%) to $90,160m
- South Korea fell $10,445m (19.3%) to $43,662m
- India rose $124m (0.4%) to $35,195m
- United States of America rose $2,610m (8.4%) to $33,566m
These five countries made up 62.8% of Australia’s total international trade in exports.
Total imports
Total imports rose $13,470m (2.6%) in 2023.
The top 5 importing partners for Australia were:
- China fell $7,060m (6.1%) to $108,137m
- United States of America rose $4,719m (7.8%) to $65,107m
- Japan rose $1,607m (5.6%) to $30.548m
- South Korea fell $700m (2.5%) to $27,319m
- Singapore fell $3,258 (11.9%) to $23,957m
These five countries made up 48.4% of Australia’s total international trade in imports.
Trade in services
In 2023:
- The balance on trade in services was a surplus of $704m
- Services credits (exports) rose $38,080m (50.5%) to $113,524m
- Services debits (imports) rose $16,538 (17.2%) to $112,820m
Services exports
Total exports of services rose 50.5% in 2023, which exceeded pre-pandemic levels of 2019 by $11,943m (11.8%).
In 2023:
- Education-related travel rose $21,229m (79.8%)
- Other personal travel rose $11,139m (147.3%)
- Charges for the use of intellectual property rose $1,701m (27.5%)
Services exports by state
In 2023, all states experienced a recovery in services exports with the strongest growth in South Australia which rose $2,296m (81.9%) and Queensland, which rose $6,115m (70.6%).
New South Wales accounted for 46.0% of all services exports, followed by Victoria, with 25.0%.
Services exports by country
In 2023:
- China was Australia’s largest services export partner, accounting for 12.9% of total services exports.
- Total exports to China rose by $5,101m (53.4%) driven by education-related travel with the return of students from China to on-shore study.
- United States of America was Australia’s second largest services export partner, accounting for 10.7% of total services exports.
- Services exports to the United States of America rose $1,976 (19.5%), also driven by travel exports.
2022 | $m | % | 2023 | $m | % |
---|---|---|---|---|---|
United States of America | 10,138 | 13.4 | China | 14,651 | 12.9 |
China | 9,550 | 12.7 | United States of America | 12,114 | 10.7 |
Asia, nes | 6,439 | 8.5 | Asia, nes | 11,605 | 10.2 |
United Kingdom | 5,797 | 7.7 | India | 9,975 | 8.8 |
India | 5,617 | 7.4 | United Kingdom | 7,415 | 6.5 |
Singapore | 4,667 | 6.2 | New Zealand | 6,254 | 5.5 |
New Zealand | 4,531 | 6.0 | Singapore | 5,510 | 4.9 |
Hong Kong | 1,883 | 2.5 | America, nes | 3,306 | 2.9 |
Ireland | 1,765 | 2.3 | Hong Kong | 2,913 | 2.6 |
America, nes | 1,634 | 2.2 | Indonesia | 2,568 | 2.3 |
All other countries | 23,423 | 31.0 | All other countries | 37,213 | 32.8 |
Total | 75,444 | 100.0 | Total | 113,524 | 100.0 |
Where figures have been rounded, discrepancies may occur between sums of the component items and totals.
Services imports
Total imports of services rose $16,538m (17.2%) to $112,820m in 2023.
The key drivers of the increase were:
- Travel services rose $17,323m (73.8%), driven by other personal related travel services.
- Other services rose $5,615m (14.3%), driven by a rise in professional and management consulting services.
Partially offsetting, transport services fell $6,400m (19.1%) in line with falls in the cost of freight services.
Services imports by state
In 2023:
- All states recorded a rise in services imports
- New South Wales and Victoria remained the two largest states, with 46.9% and 23.6% of all services imports, respectively.
Services imports by country
In 2023:
- United States of America remained Australia’s largest services imports partner, accounting for 15.4% of the total services imports.
- Total service imports from the United States of America rose $3,596m (26.1%)
2022 | $m | % | 2023 | $m | % |
---|---|---|---|---|---|
United States of America | -13,788 | 14.3 | United States of America | -17,384 | 15.4 |
Singapore | -9,403 | 9.8 | United Kingdom | -9,779 | 8.7 |
United Kingdom | -8,862 | 9.2 | New Zealand | -7,944 | 7.0 |
Germany | -6,373 | 6.6 | Singapore | -7,754 | 6.9 |
New Zealand | -6,181 | 6.4 | Asia, nes | -7,112 | 6.3 |
Asia, nes | -5,240 | 5.4 | Indonesia | -5,982 | 5.3 |
India | -3,669 | 3.8 | Germany | -4,928 | 4.4 |
Hong Kong | -3,619 | 3.8 | India | -4,671 | 4.1 |
Ireland | -3,264 | 3.4 | Japan | -4,339 | 3.8 |
Europe, nes | -3,018 | 3.1 | Ireland | -3,540 | 3.1 |
All other countries | -32,865 | 34.1 | All other countries | -39,387 | 34.9 |
Total | -96,282 | 100.0 | Total | -112,820 | 100.0 |
Where figures have been rounded, discrepancies may occur between sums of the component items and totals
(a) For sign conventions, see the Explanatory notes.