How much does Australia trade with China?

The value of Australia’s exports to China has jumped 24% from a year ago, to reach over $180 billion Australian dollars ($135 billion) as of the latest August data, according to research firm Oxford Economics.

How much does Australia import from China?

Australia Imports from China was US$61.05 Billion during 2020, according to the United Nations COMTRADE database on international trade. Australia Imports from China – data, historical chart and statistics – was last updated on December of 2021.

How much trade is there between China and Australia?

China’s total imports from Australia in May rose more than 55 per cent from the previous month to US$13.6 billion, while exports rose just over 1 per cent to US$4.9 billion, according to Chinese data released on Monday.

What percent of Australian imports are from China?

Ninety per cent of Australia’s merchandise imports are from China and, of those, 90% are elaborately-transformed manufactures.

Does Australia rely on China for trade?

Australia was dependent on China for more than half the supplies to three industries, 37 sectors and 167 categories. This was by far the greatest level of dependency among the five nations.

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What would happen if China stopped trade with Australia?

“First, it would mean too big a disruption to the Chinese economy.” Iron ore imports from Australia are worth $85 billion annually, and so far, the agricultural imports hit by China’s tariffs and bans are worth just $6 billion, he said. “China would not be able to make up its iron ore needs from other sources.”

What has China stopped buying from Australia?

China’s government has hit several Australian industries with economic sanctions, imposing hefty tariffs on Australian barley and wine exports while throwing up barriers to several other products including timber, lobster and coal. But it has typically not framed these decisions as acts of political retaliation.

Why does Australia trade with China so much?

China is Australia’s biggest trading partner mainly due to China’s strong demand for iron ore, coal and liquefied natural gas. Exports to China helped Australia escape the worst effects of the global financial crisis.

What does China need from Australia?

Around half of that is iron ore, which fuels China’s insatiable need for steel to fuel its construction boom. The rest is mainly coal, gas, and agricultural products, plus substantial Australian earnings from Chinese students and tourists.

Why is China Boycott Australia?

The announcement came after the White House, the Australian government and the UK government confirmed diplomatic boycotts of the Winter Games in February to protest Chinese human rights abuses. China has vowed to react with “firm countermeasures.”

Are China and Australia allies?

While Australia and China have, since the 1980s, developed a strong bilateral relationship based on shared interests, China still handles its affairs with individual countries in the context of global strategic relationships.

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How does China affect Australia?

Australia is estimated to have foregone export revenue of around US$4.9 billion (A$6.6 billion) over July 2020 to February 2021 as a result of China’s restrictions or discriminatory purchasing affecting eight key commodities – coal, copper ores and concentrates, frozen beef, wine, cotton, barley, rough wood and rock …