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20-12-2023
Imports
In 2022, Australia imported $289.4 billion worth of products from the world. Compared to $248.9 billion in 2021, the value of Australia's imports increased by 16.3% year-on-year.
Australia's seven most valuable imports in terms of dollar value are processed petroleum, automobiles, trucks, telephony equipment including smartphones, computers, crude oil and pharmaceutical mixtures.
Best Suppliers of Australian Imports
The latest country-specific Customs data shows that Australia's imports are supplied mainly by exporters from China (35.6% of Australia's global total), the USA (7.5%), South Korea (5.2%), Japan (5.1%), Singapore (4%), Malaysia (2.8%), Thailand (2.7%), Germany (2.2%), Taiwan (also 2.2%) and India (1.8 percent), India (1.8 %), Vietnam (1.7 %) and Italy (1.3 %).
Australia's Top 10 Imports
1. Mineral fuels including petroleum: $46.1 billion (15.9% of total imports)
2. Machinery including computers: $39.3 billion (13.6%)
3. Vehicles: $35.7 billion (12.4%)
4. Electrical machinery and equipment: $29.5 billion (10.2%)
5. Pharmaceuticals: $13 billion (4.5%)
6. Optics, technology, medical equipment: $9.4 billion (3.3%)
7. Gems, precious metals: $8.1 billion (2.8%)
8. Plastics, plastic products: $7.7 billion (2.7%)
9. Iron and steel products: $6.4 billion (2.2%)
10. Furniture, bedding, lighting, signs, prefabricated buildings: $5.7 billion (2%)
Australia's top 10 imports account for more than two-thirds (69.5%) of the total value of products it purchases from other countries.
Between 2021 and 2022, the fastest cost increases in the top 10 import categories are in mineral fuels, including (up 78.7%), pharmaceuticals (up 21.2%), and then iron and steel products (up 13.1%).
The most modest increase in Australia's major imports is in optical, technical and medical equipment, appreciating by 1.7%.
Exports
In 2022, the Commonwealth of Australia shipped products with a total value of $401.1 billion to the world. The total value of goods exported from Australia increased by 16.1% from $345.6 billion in 2021.
In 2022, Australia's largest exports by value were iron ore and its concentrates, coal and solid fuels made from coal, LPG, gold and wheat.
Australia's Best International Trade Customers
The latest country-specific customs data shows that Australia's exports are mainly purchased by importers in the following countries: mainland China (35.6% of Australia's global total), Japan (7.5%), South Korea (5.2%), India (5.1%) ), USA (4%), Taiwan (2.8%), New Zealand (2.7%), Vietnam (2.2%), Indonesia ( 2.2%), Malaysia (1.8%), Hong Kong (1.7%) and Singapore (1.3%).
Australia's Top 10 Exports
1. Fossil fuels including petroleum: $158.7 billion (39.6% of total exports)
2. Ores, slag, ash: $102.6 billion (25.6%)
3. Gemstones, precious metals: $19.4 billion (4.8%)
4. Cereals: $13.8 billion (3.4%)
5. Meat: $12 billion (3%)
6. Salt, sulfur, stone, cement: $8.5 billion (2.1%)
7. Inorganic chemicals: $7.2 billion (1.8%)
8. Oilseeds: $6.1 billion (1.5%)
9. Aluminum: $5.1 billion (1.3%)
10. Machinery including computers: $5 billion (1.2%)
Australia's top ten exports account for more than four-fifths (84.4%) of its total global exports.
Salt, sulphur, stone and cement are the fastest growing of the top ten export categories, up 458.3% since 2021. The second highest improvement in export sales was in oilseeds, up 98.1%. Australia's fossil fuel shipments, including petroleum, ranked third in terms of increase, up 73% year-on-year.
The biggest fall in Australia's top ten export categories was ores, slag and ash, dragged down by lower sales of iron ore, copper ore and concentrates, which fell by -22.2%.
Based on the finer four-digit HS codes, the top ten Australian export products were:
1. Iron ore, concentrates (37.06%, $116.98 Billion)
2. Coal, solid fuels made from coal (13.82%, $43.61 Billion)
3. Ppetroleum gas (11.93%, $37.66 Billion)
4. Gold (unwrought) (5.55%, $17.51 Billion)
5. Crude Oil (2.36%, $7.44 Billion)
6.Wheat (2.3%, $7.26 Billion)
7. Aluminum oxide/aluminum hydroxide (1.86%, $5.87 Billion)
8. Copper Ore, Concentrate (1.85%, $5.84 Billion)
9. Frozen beef (1.31%, $4.15 Billion)
10. Aluminum (unwrought) (1.22%, $3.86 Billion)
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