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Why does australia trade so much with china

Trade

How much trade does Australia do with China?

China is Australia’s largest two-way trading partner in goods and services, accounting for 27.4 per cent of our trade with the world. Two-way trade reached a record $252 billion in 2019 (up 17.3 per cent year on year).

When did China become Australia’s largest trading partner?

In late 2007 China overtook Japan to become Australia’s largest trading partner, and in 2009 became Australia’s largest export market. Australia is China’s seventh largest trading partner. Forty years ago, two-way trade was less than $100 million.

Does Australia have a trade surplus with China?

Goods exports to China are now worth around 8.5 per cent of Australia’s GDP. … The surge in exports to China helped Australia record its largest financial year trade surplus of $77.4 billion.

What are China’s main exports to Australia?

China exports to AustraliaValueYearMineral fuels, oils, distillation products$1.98B2018Articles of apparel, knit or crocheted$1.86B2018Articles of apparel, not knit or crocheted$1.77B2018Toys, games, sports requisites$1.39B2018

What country owns most of Australia?

China

Does Australia rely on China?

Australia relies heavily on foreign investment. China ranks only ninth as an investor in Australia, with a 3% share of total foreign direct investment. That investment has grown rapidly in the past few years, but China’s foreign investment is likely to fall as its savings rate falls.

Who is China’s largest trading partner?

China’s Top Trading Partners

  • United States: US$418.6 billion (16.8% of China’s total exports)
  • Hong Kong: $279.6 billion (11.2%)
  • Japan: $143.2 billion (5.7%)
  • South Korea: $111 billion (4.4%)
  • Vietnam: $98 billion (3.9%)
  • Germany: $79.7 billion (3.2%)
  • India: $74.9 billion (3%)
  • Netherlands: $73.9 billion (3%)
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What does Australia rely on China for?

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.

How much agricultural land does China own in Australia?

China has grown into Australia’s second biggest agricultural landholder with 9.1m hectares or 2.3 per cent of our total farmland. That’s slightly behind long-time leader Britain, with 2.6pc, and well ahead of the US with 0.7pc, according to 2018’s national farmland register of foreign ownership.

Who is Australia’s biggest importer?

China

What is Australia’s biggest export?

List of exports of Australia#CommodityValue (A$ million)1Iron ores & concentrates61,3572Coal60,3563Education32,4344Natural gas30,907

Does Australia have a trade surplus?

The trade balance is the value of goods exports minus the value of goods imports. A positive value indicates a trade surplus, a negative value a trade deficit. In 2019, Australia’s trade surplus amounted to around 50.02 billion U.S. dollars.

What food does China export to Australia?

seafood (particularly saltwater shell fish such as oysters, crabs, lobster and abalone) fresh fruits (citrus, table grapes, cherries and mangoes) oats and other breakfast cereals. chilled and frozen beef.

Who buys the most from China?

China’s Trading Partners – Top Countries Where China Exports the Most

  • United States: $481 billion.
  • Hong Kong: $304 billion.
  • Japan: $148 billion.
  • South Korea: $110 billion.
  • Vietnam: $84 billion.

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