The Trans Pacific Partnership could see the elimination of 98% of the tariffs on Australian exports to the region. Here’s a graphic created by the Department of Foreign Affairs and Trade to give you an idea of the impact on Australian trade.
- As of 2014, TPP countries account for 34.1% of all Australian trade. (China is not in the TPP and is 23% by itself)
- The top exports to these countries are gas, coal and iron ore, followed by services and travel.
- The top imports are refined and crude petrol, and then services and motor vehicles.
- TPP countries account for 45.3% of Australian Foreign Investment
- TPP investment in Australia is 39.9% of total foreign investment
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