Australia2022 Economic Complexity Trade : -0.35, Rank 77 of 124
2021 Economic Complexity Technology : 1.11, Rank 13 of 96
2022 Economic Complexity Research : 2.18, Rank 4 of 135
2022 Product Exports | Imports: $424B | $292B, 16 of 226 | 24 of 226
2022 Per Capita Product Exports | Imports: $16.3k | $11.2k, 24 of 219 | 60 of 219
Overview In 2022, Australia was the number 12 economy in the world in terms of GDP (current US$), the number 16 in total exports, the number 24 in total imports, the number 11 economy in terms of GDP per capita (current US$) and the number 77 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Australia are Coal Briquettes ($109B), Iron Ore ($87.9B), Petroleum Gas ($67.3B), Gold ($17.8B), and Wheat ($10.2B), exporting mostly to China ($123B), Japan ($80.1B), South Korea ($41B), India ($31.5B), and Chinese Taipei ($24.1B).
In 2022, Australia was the world's biggest exporter of Coal Briquettes ($109B), Iron Ore ($87.9B), Wheat ($10.2B), Other Mineral ($8.27B), and Aluminium Oxide ($6.29B)
Imports The top imports of Australia are Refined Petroleum ($37.7B), Cars ($20.8B), Delivery Trucks ($8.59B), Broadcasting Equipment ($7.46B), and Computers ($7.03B), importing mostly from China ($81.2B), United States ($29.7B), South Korea ($18.7B), Japan ($16.7B), and Singapore ($14.7B).
In 2022, Australia was the world's biggest importer of Sodium or Potassium Peroxides ($1.39B)
Location Australia borders Timor-Leste, Indonesia, New Zealand, Papua New Guinea, Solomon Islands, and New Caledonia by sea.
January, 2024
Overview In January 2024 Australia exported AUD39.8B and imported AUD31.8B, resulting in a positive trade balance of AUD8.02B. Between January 2023 and January 2024 the exports of Australia have decreased by AUD-5.09B (-11.3%) from AUD44.9B to AUD39.8B, while imports decreased by AUD-1.41B (-4.24%) from AUD33.2B to AUD31.8B.
Trade In January 2024, the top exports of Australia were Metalliferous ores and metal scrap (AUD46.7B), Coal,coke and briquettes (AUD21.7B), Gas,natural and manufactured (AUD12.9B), Meat and meat preparations (AUD12.5B), and Crude fertilizers and crude minerals (AUD11.4B). In January 2024 the top imports of Australia were Electric machinery,n.e.s.and parts (AUD44.2B), General industrial machinery n.e.s. (AUD40.5B), Medicinal and pharmaceutical products (AUD29.3B), Machinery for specialized industries (AUD27.3B), and Telecommunications and sound recording equipm (AUD24.3B).
Origins In January 2024 the exports of Australia were mainly from Western Australia (AUD22.7B), Queensland (AUD8.3B), New South Wales (AUD6.42B), Victoria (AUD2.52B), and South Australia (AUD1.53B), while imports destinations were mainly New South Wales (AUS13.1B), Victoria (AUS9.7B), Queensland (AUS5.49B), Western Australia (AUS4.25B), and South Australia (AUS1.24B).
Destinations In January 2024, Australia exported mostly to chn (AUD16.5B), jpn (AUD6.9B), kor (AUD3.66B), usa (AUD1.57B), and twn (AUD1.52B), and imported mostly from China (AUD10B), United States (AUD3.67B), South Korea (AUD2.16B), Japan (AUD1.85B), and Thailand (AUD1.73B).
EXPORT GROWTH (January 2023 - January 2024): AUD-5.09B, (-11.3%)
IMPORT GROWTH (January 2023 - January 2024): AUD-1.41B, (-4.24%)
MAIN EXPORTER (January 2024): Western Australia, AUD22.7B
MAIN DESTINATION (January 2024): China, AUD16.5B
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.
Top Export (2022): Coal Briquettes, $109B
Top Destination (2022): China, $123B
In 2022, Australia exported a total of $424B, making it the number 16 exporter in the world. During the last five reported years the exports of Australia have changed by $171B from $253B in 2017 to $424B in 2022.
The most recent exports are led by Coal Briquettes ($109B), Iron Ore ($87.9B), Petroleum Gas ($67.3B), Gold ($17.8B), and Wheat ($10.2B). The most common destination for the exports of Australia are China ($123B), Japan ($80.1B), South Korea ($41B), India ($31.5B), and Chinese Taipei ($24.1B).
Fastest Growing Export Markets (2021 - 2022)
Fastest Growing Import Markets (2021 - 2022)
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 Other Mineral (42.6), Wool (37.9), Iron Ore (30.9), Coal Briquettes (21.5), and Sheep and Goat Meat (20.9). 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 (1.22), Machines and appliances, instruments or apparatus of chapter 90; parts and accessories... (0.98), Hop cones, fresh or dried, whether or not ground, powdered or in... (0.47), Mechano-therapy, massage appliances; psychological aptitude testing apparatus; ozone, oxygen, aerosol therapy, artificial... (0.46), and Peptones and their derivatives; other protein substances and their derivatives n.e.c. or... (0.42). 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 Crude Petroleum (0.15), Cobalt Oxides and Hydroxides (0.14), Soybeans (0.14), Raw Copper (0.14), and Mate (0.14). 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 33rd to the 77th 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.
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