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Here Are Australia's Top 10 Two-Way Trading Partners

The Department of Foreign Affairs and Trade has just released its Trade in Services data for 2013.

The data shows who Australia’s biggest trading partners are and how much their business is worth to the economy.

DFAT said the nation has experienced its strongest services trade growth since 2007, increasing 9.1% year-on-year to $124.8 billion in 2013.

Australia’s services sector represents about 70% of the country‚Äôs GDP, employs 4 out of 5 Australians and its expansion is critical for economic transition away from the mining boom.

Services trade includes everything from manufacturing, maintenance, transport, travel and construction to insurance, finance, telecommunications and computer information.

Imports in services rose 10.4% to $69.7 billion, while exports also rose 7.6% to $55.1 billion. Since 2008, export values have continued to increase by 1.0% each year.

Here are Australia’s top ten two-way trade partners.

1. China. Major exports include iron ore, coal and gold.

2. Japan. Major exports include coal, iron ore and beef.

In April this year Australia and Japan agreed to sign a free trade agreement, following seven years of negotiation.

Australia is the first major agricultural exporting economy to reach a liberalising agreement with Japan.

Read the full list of how Australia benefits from the deal here.

3. United States. Major exports include beef, aircraft and spacecraft parts, and alcoholic beverages.

4. Korea. Major exports include iron ore, coal and crude petroleum.

5. Singapore. Major exports include crude petroleum, gold and refined petroleum.

6. New Zealand. Major exports include computer parts and accessories, passenger motor vehicles and medicaments.

7. United Kingdom. Major exports include gold, lead and coal.

8. Thailand. Major exports included gold, crude petroleum and aluminium.

9. Malaysia. Major exports included crude petroleum, copper and nickel.

10. Germany. Major exports include gold coin and legal tender coin, precious metal ores (excluding gold) and oil-seeds and oleaginous fruits.

Now Read: MAPS AND CHARTS: The Top Imports And Exports For Each Australian State Will Surprise You

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