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China: 185,141: 114,224: 299,365: ... The 15 largest import sources to Australia in millions of Australian dollars for the 2022 calendar year were as follows: [2]
The following is a list of the top 20 exports of Australia in 2017-18, as reported by its Department of Foreign Affairs and Trade. [1] # Commodity Value (A$ million)
China is Australia's biggest trading partner mainly due to China's strong demand for iron ore, coal and liquefied natural gas. [43] Exports to China helped Australia escape the worst effects of the global financial crisis. [44] Many major Australian mining companies rely heavily on China and other growing big economies such as India for exports.
Monthly value of Australian merchandise exports to China (A$ millions) since 1988 Monthly value of Chinese merchandise exports to Australia (A$ millions) since 1988. The China–Australia Free Trade Agreement (ChAFTA) is a bilateral free trade agreement (FTA) between the governments of Australia and China.
Australia's economy is strongly intertwined with the countries of East and Southeast Asia, also known as ASEAN Plus Three (APT), accounting for about 64% of exports in 2016. [46] China in particular is Australia's main export and import partner by a wide margin. [47] Australia is a member of the APEC, G20, OECD and WTO.
Australia has been mining bauxite since the early 1960s and is a major economic player in worldwide bauxite mining. It is the largest producer of bauxite in the world, producing 31% of global production in 2016. Australia is also the largest exporter and second highest producer of alumina worldwide, with 17% of global production. [2]
Following this, China started imposing import tariffs on some Australian exports. China gave a range of reasons for the tariffs, ranging from dumping concerns to bark beetles found in timber. China denied that the tariffs were related to Scott Morrison's call for an independent investigation into the origins of COVID-19 .
Following import restrictions by the Chinese government in 2021, coal exports to China ceased, even though China had previously received 69% of Australia's exports in 2020. Currently, the main importers of Australia's metallurgical coal include India, Japan, the European Union, and Korea.