Trade and Financial Flows

Trade as % of GDP (2024) vs 1960s

25% of GDP vs under 15%

Wool as largest export until the 1960s

40% of total value (now 10%)

Iron, coal and LNG share of total export value

Three-quarters

LNG emissions advantage over coal

50% less CO2

Future Made in Australia (2024)

$22.7 billion in new exports (renewable hydrogen, green metals, critical minerals processing)

China's 2020 ban on Australian coal imports

Overnight loss of $14 billion annual trade

Fall in Australian export value 2022–2025

$688 billion (2022) to $646 billion (2025)

Mining share of exports 2024 vs 1990

52%, up from 34.2%

Services share of exports 2024

22.9% (negligible change)

Services share of Australian labour force

Three-quarters

Record service export value (2025)

$132.5 billion

Rural share of exports 2024 vs 1990

6.2%, down from 19.6%

Manufacturing share of exports 2024 vs 1990

4.2%, down from 21.2%

Australia's oil imports (2022)

83% of oil imported

Year UK joined the EEC

1973

Australia's largest trading partner since 2009

China

Top 5 export destinations

China (37%), Japan (11%), South Korea (7.2%), India (6%), US (5.4%)

Top 5 import sources

China (27%), US (12%), Japan (6.1%), South Korea (5.8%), Thailand (4.7%)

Australia's average tariff level

0.5%, down from 36% in the 1960s (world average 2.5%)

PMV closure structural unemployment

40,000 workers in Victoria and SA

Growth Fund for retraining auto workers

$155 million; 30–40% found jobs within 12 months

Tariff revenue as share of government revenue

Less than 1%

Floating of the Australian dollar

1983

Investment into Australia (2025) vs 1990

$5 trillion vs $310 billion

Australian investment overseas (2025) vs 1990

$4.4 trillion vs $115 billion

Mining boom FDI peak

9% of GDP in 2012

TNC affiliates in Australia by 2008

3,000

Portfolio investment share of financial inflows pre-GFC

Two-thirds went to banks

MPS increase reducing S-I gap

0.06 to 0.24

Australian superannuation

4th largest pension pool, $4.3 trillion, 12% guarantee

Australia's net foreign equity asset position

Since 2013, now $740 billion

Net foreign debt

$1.4 trillion, 50% of GDP

Foreign-held government bonds

52%

Public sector debt increase since COVID

Up 67%

Australian investment into Asia 2014–2024

Doubled to $493 billion

China's rank as investor into Australia

13th

Australian investment outflows 2024 (top 5)

US, UK, EU, NZ, Japan

Australian investment inflows 2024 (top 5)

US, UK, Belgium, Japan, Hong Kong