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SECTION 7 INTERNATIONAL MERCHANDISE TRADE

• Western Australia's trade surplus in the December quarter 2008 (more than $14b) was 45% higher than the surplus in the same quarter of the previous year (less than $10b).

VALUE OF WESTERN AUSTRALIA'S TRADE SURPLUS, Change from same quarter previous year

• The value of exports was 47% higher in the December 2008 quarter than in the December 2007 quarter, up from $16 billion to almost $24 billion.
• China and Japan continued to be the major export destinations, each receiving goods to the value of more than $6 billion. However, in the case of China, there was a decrease of $437 million from the September quarter 2008. The value of exports to Japan increased through the year to being almost double the value of exports in December 2007.

18 INTERNATIONAL MERCHANDISE TRADE(a), Exports - Top 10 countries: Original
	EXPORTS
	December quarter 2007	September quarter 2008	December quarter 2008
Country	$'000	$'000	$'000
China	4 117 879	6 481 841	6 045 015
Japan	3 120 717	4 881 908	6 021 476
Korea, Republic of	1 552 543	2 122 141	2 148 533
United Kingdom	1 799 678	1 464 705	1 691 146
India	792 978	1 625 567	1 372 865
United Arab Emirates	208 184	825 941	780 217
Singapore	507 165	724 346	703 183
Thailand	361 115	809 455	631 353
United States of America	543 542	664 834	603 379
Taiwan	235 233	442 529	539 499
Total Export(b)	16 126 050	22 887 121	23 743 393
(a) Free on board (f.o.b.) value.
(b) Includes countries not listed.
Source: ABS data available on request, International Trade in Goods and Services, Australia, cat. no. 5368.0.

• As in the previous quarter, the two leading export commodities in the December 2008 quarter were Iron ore and concentrates; and non-monetary gold, with export values of $8.9 billion and $4 billion respectively.
• Although declining slightly since the September quarter, the value of Iron ore exports for the December 2008 quarter was more than double the figure for the same quarter of the previous year.
• Over this 12 month period, the export values of gold and natural gas both rose substantially while the export values of Nickel and Base metal ores both fell by more than 50%.

19 INTERNATIONAL MERCHANDISE TRADE(a), By major commodity: Original
	2007	2008
	December	September	December
Category of the SITC	$'000	$'000	$'000
MAJOR EXPORT COMMODITIES(b)
Iron ore and concentrates	4 395 215	9 436 358	8 982 022
Gold, non-monetary	2 837 507	3 954 843	4 020 785
Natural gas	1 180 347	1 721 854	2 688 677
Confidential items	2 281 368	1 586 108	2 249 564
Crude petroleum oils	2 255 066	2 938 254	2 048 321
Wheat	307 711	594 452	673 128
Nickel ores and concentrates	180 324	274 706	310 870
Liquefied propane and butane	235 334	207 952	216 229
Live animals	103 946	119 622	145 344
Refined petroleum oils	176 022	115 078	127 108
Ores and concentrates of base metal	299 515	151 307	110 218
Nickel	231 163	175 572	100 344
Pigments, paints, varnishes and related materials	94 163	72 262	94 679
Wool and other animal hair	77 323	47 707	70 192
Crustaceans, molluscs and aquatic invertebrates	45 201	46 513	65 302
Total exports(c)	16 126 050	22 887 121	23 743 393
(a) Care should be taken when comparing with commodities data prior to July 2005. For full details about changes to international trade statistics, users should refer to the Information Paper: Impact of introducing Revision 4 of the Standard International Trade Classification, 2008 (cat.no. 5368.0.55.10).
(b) Free on board (f.o.b.) value.
(c) Includes categories not listed.
Source: ABS data available on request, International Trade in Goods and Services, Australia, cat. no. 5368.0.

• Compared to import values in the same quarter of the previous year, the import values in December quarter 2008 were higher by just over $3 billion (slightly more than 50%).
• The United Kingdom (U.K.) was the foremost supplier of commodities imported in the December quarter 2008. There was a very large increase (over 1000%) in the value of imports from the UK compared to December quarter 2007. This was primarily due to a return to the historically higher level of non-monetary gold imports following a temporary slump in the last quarter of 2007.
• Of the $1.6 billion of imports from the U.K. in the December quarter, approximately $1.3 billion were non-monetary gold (excluding ores and concentrates), comprising leaf, foil, bullion and fabricated gold, including granules. Gold in these forms is imported to Western Australia where it is processed before exportation under a different commodity classification.
• Singapore and the United States of America ranked as the second and third highest countries supplying commodities to Western Australia, with both showing substantial increases in the value of imports in December quarter 2008 compared to December quarter 2007.

20 INTERNATIONAL MERCHANDISE TRADE(a), Imports - Top 10 countries: Original
	IMPORTS
	December quarter 2007	September quarter 2008	December quarter 2008
Country	$'000	$'000	$'000
United Kingdom	144 166	1 182 772	1 640 280
Singapore	651 643	964 759	1 514 047
United States of America	553 532	872 743	1 103 974
Thailand	432 119	776 543	725 386
China	550 494	543 789	723 845
Japan	961 037	544 414	661 983
Germany	289 245	314 059	327 043
Indonesia	210 547	431 021	271 198
United Arab Emirates	435 622	581 847	259 684
Malaysia	220 432	347 113	249 493
Total all countries(b)	6 229 979	8 609 336	9 359 480
(a) Customs value.
(b) Includes countries not listed.
Source: ABS data available on request, International Trade in Goods and Services, Australia, cat. no. 5368.0.

• The major commodities driving the increase in the value of imports in the December quarter 2008 were (non-monetary) gold products and refined petroleum oils, both of which were approximately double the value of imports in the corresponding quarter of the previous year.
• Over the 12 month period, there was a fourfold increase in the value of Fertiliser imports. This was largely the result of the Varanus Island gas explosion in June 2008, which had a major impact on fertiliser production in Western Australia.

21 INTERNATIONAL MERCHANDISE TRADE(a), By major commodity: Original
	2007	2008
	December	September	December
Category of the SITC	$'000	$'000	$'000
MAJOR IMPORT COMMODITIES(b)
Gold, non-monetary	1 371 968	2 271 258	2 504 780
Refined petroleum oils	477 751	804 128	1 095 407
Crude petroleum oils	630 552	1 146 329	433 632
Confidential items	211 695	307 110	407 615
Passenger motor vehicles	413 905	392 695	360 768
Civil engineering plant and equipment	282 256	261 205	323 606
Motor vehicles for the transport of goods	257 971	318 182	296 096
Fertilisers	93 563	210 783	284 307
Iron or steel tubes and pipes	79 237	102 494	155 352
Other specialised industry machinery and equipment	97 582	104 598	126 154
Rubber tyres	83 493	87 348	105 170
Automatic data processing machines	42 110	41 097	55 299
Ships, boats and floating structures	40 736	25 975	47 462
Aircraft and associated equipment	55 690	138 687	43 290
Parts and accessories of office machines	6 305	6 122	9 254
Total imports(c)	6 229 979	8 609 336	9 359 480
(a) Care should be taken when comparing with commodities data prior to July 2005. For full details about changes to international trade statistics, users should refer to the Information Paper: Impact of introducing Revision 4 of the Standard International Trade Classification, 2008 (cat.no. 5368.0.55.10).
(b) Customs value
(c) Includes categories not listed.
Source: ABS data available on request, International Trade in Goods and Services, Australia, cat. no. 5368.0.