Key Country Contacts
Trade Overview
Australia has a market economy with a gross domestic product (GDP) of $882.4 billion, making it the 17th largest economy in the world.
Australia’s diverse landscape and abundant natural resources has provided the country high level of foreign investment for exporting commodities such as coal, iron ore, copper, gold, natural gas, uranium and renewable energy sources.
In addition to being a large exporter of natural resources, energy, and food, Australia also has a significant service sector. Main imports for Australia include machinery and transport equipment, computers and office machines, telecommunication equipment, crude oil and petroleum products.
As the 14th largest trading partner for the U.S., Australia has always enjoyed a strong trade relationship and a diverse portfolio with the U.S. In 2011, trade with Australia had increased by $5.7 billion totaling $27.5 billion in total exports.
Non-electrical machinery was the most important export category, as it has been since 2004, making up 21.6 percent of total U.S. exports to Australia. Transportation equipment, which until 2004 was the primary export to Australia, was the second largest group with 16.9 percent of the total. Chemical products account for the third greatest export value, at 11 percent of all Australia-bound exports.
Australia - California Trade
In 2011, Australia was the 13th largest importer of California goods and services. California exported approximately $3.7 billion to the country, making it the largest exporter to Australia. The largest export category from California was computer and electrical products, totally $734 million. Transportation Equipment totalled over $729 million and represented 19.6 percent of all California exports to Australia. Other top export categories include Miscellaneous Manufactured Commodities and Chemicals, totaling 8.2 and 7.9 percent of all export commodities respectively.
Australian Trade Facts
U.S. exports to Australia -14th
- Machinery, except Electrical - $ 6,923,825,246
- Transportation Equipment- $ 4,640,486,274
- Chemicals - $ 3,118,589,176
- Computer and Electronic Products - $ 2,921,538,954
Total - $27,515,747,704
California Exports to Australia – 13th
Computer and Electronic Products - $734,153,002
Transportation Equipment - $ 729,197,296
Machinery, except Electrical - $ 304,023,312
Miscellaneous Manufactured Commodities - $ 293,767,992
Total - $3,715,991,280
Australia and World Trade
Australia is actively involved with Asia-Pacific Economic Cooperation (APEC) as well as engaged in the Trans-Pacific Partnership talks in an effort to lower barriers to trade.
APEC was formed in 1989. It serves as a multilateral forum in which Asian and Pacific economies can solve economic problems and cooperate in developing key economic sectors.
The Trans-Pacific Strategic Economic Partnership Agreement (TPP) was signed by New Zealand, Chile, Singapore and Brunei in the summer of 2005. Later that year, negotiations for the United States to join the Trans-Pacific Agreement were launched. Australia, Peru and Vietnam also indicated interest in participating in negotiations from the first round.
One of the objectives of the Trans-Pacific Agreement was to create a trade agreement that could be seen as a model within the Asia-Pacific region and could potentially attract new members. The agreement is open to accession “on terms to be agreed among the parties, by any APEC economy or other state”.
CalChamber Trade Issues: APEC
CalChamber Trade Issues: Trans-Pacific Partnership
Signing of International Wine Trade Memorandum of Understanding Will Ease Burden on U.S. Wine Exporters, Support American Jobs
October 20, 2011 - Santiago, Chile - Members of the World Wine Trade Group (WWTG), including the United States, Chile, Argentina, New Zealand, Australia, and Georgia, joined together to sign a Memorandum of Understanding (MOU) on Certification Requirements, which will help reduce barriers to international wine trade and support exporters of wine in each participating country. This MOU will facilitate trade in wine among these countries by encouraging the elimination of burdensome requirements and certifications of wine products and ingredients.
"The MOU signed today by these six World Wine Trade Group member countries is a key example of the kind of collaboration between trading partners that is essential to increase trade and support international growth in this global economy," said United States Trade Representative Ron Kirk. "The production and sale of wine is a valued and robust industry in the United States and this MOU will help contribute to its continued growth and viability, while supporting much needed American jobs in these challenging economic times."
Please find the full release here.
U.S. - Australia Free Trade Agreement
On January 1, 2005, the U.S.-Australia Free Trade Agreement came into effect. The agreement eliminates tariffs on 99 percent of U.S. manufactured goods exported to Australia, accounting for 93 percent of all U.S. exports to the nation.
A comprehensive free trade agreement combined more than 328 million consumers in a market of over $15.8 trillion annually. Australian companies employ more than 84,000 American workers.
CalChamber Trade Issues: U.S. - Australia Free Trade Agreement
Recent Events
| CalChamber Hosts Meeting on California - Australia Trade Relations |
 (August 13, 2008) California trade relations with the Australian state of Victoria were among the topics discussed during a recent meeting at the California Chamber of Commerce.
Victoria—which is located in southeast Australia—is home to 5 million people with 3.6 million living in the capital city of Melbourne. In 2007, the United States exported $19.2 billion worth of goods to Australia, a 35 percent increase since 2004, the year before the U.S.-Australia Free Trade Agreement (FTA) went into effect.
On July 21, CalChamber hosted (from left to right) Andrew Dyer, commissioner to the Americas, Susanne Stirling, CalChamber vice president of international affairs and Deborah Komessaroff, from the Victoria Business Office.
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