International trade is a key economic driver, creating jobs and industries around the country and influencing both public policy and business decisions.
Here are Australia’s biggest exports and imports, broken down state-by-state for the 2012-13 financial year.
Exports by state
Australia’s mining boom has driven the country’s exports over the last few years.
According to the Department of Foreign Affairs and Trade primary products were Australia’s biggest exports in the 2012-13 financial year, accounting for over 61.3 per cent of total exports.
Australia’s biggest exporting state was WA, largely driven by iron ore, with the coal exporting states New South Wales and Queensland trailing behind in second and third place respectively.
This chart shows Australia’s export of goods and services broken down by state since the 2008-09 financial year. What’s interesting is the sizeable impact iron ore has had on WA’s exports.
Here is the top exported good for each state:
Here are the top three goods exported by each Australian state and territory in millions of dollars for the 2012-13 financial year.
Imports by state
The country’s imports say a lot about Australia’s economy.
The biggest import in 2012-13 was crude petroleum because Australian crude oil refineries only source a small amount of inputs from Australian oil fields.
However the number of Australian oil refineries is declining with oil giants like BP opting to refine overseas in cheaper markets and import the end product, this could see the amount of refined petroleum imports increase in coming years.
The high Aussie dollar has in recent years put pressure on the country’s manufacturers but has also made it cheaper to import many goods including electronics and specialised machinery.
Here’s the breakdown of what each Australian state and territory imports:
Here’s the most imported good for each Australian state:
Here are the top three goods each Australian state and territory imported in 2012-13 in millions of dollars.