cot-fy-2013-14

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Key points
• The value of Australia’s exports of goods and services rose 9.5 per cent to $331.2 billion in
2013-14. All major export sectors recorded growth in 2013-14, including Rural goods, Mineral &
fuels, Manufactures and Services.
• Australia’s export volumes rose 5.8 per cent in 2013-14, with volumes of Minerals and fuels up by
10.7 per cent in 2013-14, almost double the rate over the past 10 years.
• The increase in export volumes shows the resources boom transitioning from the investment phase
to the production phase as projects developed over recent years begin operation. In 2013-14,
higher volumes of Iron ore and Coal were the principal drivers of export growth.
• In 2013-14, Natural gas exports became Australia’s 3 rd largest export (valued at $16.3 billion),
behind Iron ore (valued at $74.7 billion) and Coal (valued at $40.0 billion).
• In 2013-14, China remained Australia's top trading partner, with two-way trade valued at $159.7
billion, accounting for 23.9 per cent of Australia’s total trade. Japan ($72.2 billion) and the United
States ($58.2 billion) accounted for 10.8 per cent and 8.7 per cent of Australia’s total trade
respectively.
• Other key points include:
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Other personal travel services (excluding education) - which includes short term visitors’
expenditure in Australia mainly for recreational purposes - up 10.5 per cent to $13.9 billion,
Gold down 13.3 per cent to $13.3 billion,
Beef up 27.1 per cent to $6.4 billion,
Copper up 19.7 per cent to $3.7 billion, and
Financial services up 30.6 per cent to $2.8 billion.
• Exports of Education-related travel services (which includes foreign student expenditure on tuition
fees and living expenses in Australia) rose 8.2 per cent to $15.7 billon.
• Australia's imports of goods and services rose 5.3 per cent in 2013-14, with rises in Consumption
goods, Intermediate & other goods and Services partly offset by falls in Capital goods and Nonmonetary
gold.
• Australia's terms of trade fell 3.7 per cent in 2013-14. Export prices rose 3.5 per cent and import
prices up 7.5 per cent.
• Tourism industry exports 1 rose 4.1 per cent to $27.2 billion.
1 Based on the ABS Tourism Satellite Account (TSA) measure. The TSA defines tourism consumption to include all travellers who stay
in the host economy for less than one year, regardless of their purpose for travel (such as business, education, health and recreational
purposes). Refer to the Technical appendixes for more details.