11/26/2023 0 Comments Australian major exportsIn May 2023, the increase in United States's year-by-year imports from Australia was explained primarily by an increase in product imports in. Growth In May 2023, the increase in United States's year-by-year exports to Australia was explained primarily by an increase in product exports in. Origins In May 2023 the exports of United States were mainly from Illinois ($358M), Texas ($345M), California ($293M), New York ($182M), and Michigan ($107M), while imports destinations were mainly New York ($474M), California ($323M), Louisiana ($108M), Illinois ($86.6M), and Texas ($69.7M). In May 2023 the top imports of United States from Australia were Gold ($1.27B), Other Precious Metal Products ($687M), Gold ($627M), Other Precious Metal Products ($612M), and Other Precious Metal Products ($484M). Trade In May 2023, the top exports of United States to Australia were Planes, Helicopters, and/or Spacecraft ($394M), Aircraft Parts ($393M), Aircraft Parts ($272M), Crude Petroleum ($266M), and Aircraft Parts ($263M). Between May 2022 and May 2023 the exports of United States have increased by $329M (13.2%) from $2.49B to $2.82B, while imports increased by $196M (13.4%) from $1.46B to $1.66B. Overview In May 2023, United States exported $2.82B and imported $1.66B from Australia, resulting in a positive trade balance of $1.16B. Businesses with foreign investment generate around 40 percent of Australian exports, and foreign investment supports one in ten jobs in Australia. That same year, Australia ranked 82 in the Economic Complexity Index (ECI -0.41), and 20 in total exports ($343B). Trade as a whole is equivalent to 45 per cent of Australian GDP and is directly responsible for one in five Australian jobs. Australian Imports, Country by Commodity, 1974-75 (5414.0). Australian Exports, Country by Commodity, 1974-75 (5411.0). The share of Australias total exports going to Japan grew strongly from the 1950s, peaked in the early 1980s, and has been declining slowly since. In 2009, Australia exported services to United States worth $3.88B, with Other business services ($1.34B), Travel ($1.19B), and Transportation ($564M) being the largest in terms of value.Ĭomparison In 2021, United States ranked 10 in the Economic Complexity Index (ECI 1.46), and 2 in total exports ($1.63T). In 2000 Japan is Australias major export destination. During the last 26 years the exports of Australia to United States have increased at an annualized rate of 4.57%, from $3.48B in 1995 to $11.1B in 2021. The main products that Australia exported to United States were Sheep and Goat Meat ($1.03B), Gold ($769M), and Vaccines, blood, antisera, toxins and cultures ($689M). ![]() ![]() In 2017, United States exported services to Australia worth $26.1B, with Financial services ($7.42B), Travel ($7.37B), and Other business services ($2.62B) being the largest in terms of value.Īustralia-United States In 2021, Australia exported $11.1B to United States. During the last 26 years the exports of United States to Australia have increased at an annualized rate of 3.09%, from $11.6B in 1995 to $25.7B in 2021. The main products that United States exported to Australia are Cars ($1.34B), Planes, Helicopters, and/or Spacecraft ($1.01B), and Medical Instruments ($997M). United States-Australia In 2021, United States exported $25.7B to Australia.
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