If you ever wondered what Australia’s largest export items are, look no further.
From TD Securities, this excellent chart shows the value of Australia exports on a rolling 12-month basis.
Iron ore is number one, followed by a tight tussle between coal and tourism for second spot. LNG, lurking in fourth spot, looks set to get a lot more influential in the years ahead as the roll-out of new facilities leads to higher production levels.
As a bonus item, TD has supplied this second chart showing the trade balance between Australia and other major nations and regions so far this year.
Australia currently runs the biggest trade surplus with China and the largest trade deficit with the Euro area.
In simplified form, and somewhat tongue-in-cheek, we ship the raw materials to China and, in return, buy the high-end cars from Europe.