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China is Australia’s Biggest Export Market

China has overtaken the USA to become Australia’s largest services export market in 2009-10, according to the Australian Bureau of Statistics.

Services exports to China reached $5.8 billion in 2009-10, up 13.4% from the previous year. Combined goods and services exports  increased by 17.8% over 2009-10.

The United States, which held the top spot as Australia’s largest services export market for the past 26 years, moved into second place in 2009-10 at just under $5.3 billion.

Japan is the second top destination for Australian goods and services exports worth $39 billion.

India also moved up the rankings, from fourth to third top destination for Australian goods and services exports at $19.8 billion; a 7.8 per cent increase on its share of the Australian export market in the previous year.

The rankings for percentage share of two-way trade with Australia are as follows:

  1. China $90.3 billion
  2. Japan $58.9 billion
  3. United States of America $48.9 billion
  4. Republic of Korea $25.8 billion
  5. India $22.3 billion
  6. Singapore
  7. United Kingdom
  8. New Zealand
  9. Thailand
  10. Taiwan

About Business Desk

Business Desk
Editors and staff from the Business Desk at The Global Herald.

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