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Export surge delivers trade surplus in 2000-01



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Department of Foreign Affairs and Trade Media release

Australian Minister for Trade, Mark Vaile

Wednesday, 28 November 2001 / MVT156/2001

Export Surge Delivers Trade Surplus in 2000-01

Australia recorded an impressive turnaround in its international trade in 2000-01, Trade Minister Mark Vaile said today.

Australia’s trade balance recorded a surplus of $1.9 billion in 2000-01 compared with a deficit of $14.2 billion recorded in 1999-00. 

The good news is included in the Department of Foreign Affairs and Trade publication Composition of Trade, Australia, 2000-01, released today.

“Exports of goods and services rose by 21 per cent to $152.4 billion in 2000-01, while imports of goods and services rose by only 8 per cent to $150.5 billion.  On a volume basis, exports of goods and services grew by 7 per cent, while import volumes fell by 1 per cent in 2000-01,” Mr Vaile said.

“Merchandise exports rose 23 per cent to $119.6 billion in 2000-01, with the major items being Coal, Crude petroleum and Gold.

“Many of our biggest export items recorded impressive growth in 2000-01.  Beef exports rose 29 per cent to $4.1 billion, exceeding $4 billion for the first time.  Passenger motor vehicle exports also performed strongly, rising by 43 per cent to $2.7 billion.

“Overall, exports of manufactures rose 16 per cent during the year, and have grown at an average rate of 7.4 per cent over the last five years.

“The outstanding success of the Sydney Olympic games is reflected in services exports, which rose by 16 per cent to $32.8 billion in 2000-01.  Inbound tourism’s 16.8 per cent growth was a particular highlight.”

Composition of Trade, Australia, 2000-01, provides a comprehensive analysis of the growth, direction and commodity breakdown of Australia's merchandise exports in recent years, as well as overall details of services trade.

Individual reports detail composition of merchandise trade with Australia’s major trading partners and regions over the past five years.  This edition also contains an article analysing East Asia export performance in 2000-01.

Copies of the publication can be purchased ($48.00) from the Market Information and Analysis Unit on Ph (02) 6261 3114 or Fax (02) 6261 3321.  The main features and analysis from the report will be available on the department's website at www.dfat.gov.au/publications/statistics.html .  Orders for the publication can also be placed at this site.

Contact: James Baker (Ministerial) 02 6277 7420 / Nicole Guihot (Departmental) 02 6261-1555

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