Location is everything. Australia gives exporters easy and preferential access to the established and emerging markets of the Asia-Pacific. Our proximity to, and integration with these dynamic, fast-growing markets is supported by a network of 15 free trade agreements, including 12 in the Asia-Pacific, covering around 74% of trade.
Australia has developed a competitive edge in a range of goods and services, from high technology products such as medical and scientific equipment through to award-winning wine and processed food. Major services exports include education, tourism, professional and technical services, and telecommunication, computer and information services.
Our natural resources are in high demand from around the Asia-Pacific, while our education, tourism and other professional services are driving economic growth and Australia’s reputation as the land of plenty.
Australia is an open, highly globalised economy, with trade accounting for 44% of nominal GDP.
In 2020, Australia joined the world’s largest free trade agreement, the Regional Comprehensive Economic Partnership (RCEP). The RCEP encompasses 2.3 billion people and 30% of global GDP. Australia is negotiating further trade agreements with the United Kingdom (UK), the European Union (EU) and India.
Australia's top 15 export markets, 2019–20
Source: Department of Foreign Affairs and Trade, 2020, Trade statistics, Trade in goods and services: 2019–20 financial year; Austrade
Australia is one of the most globalised countries in the world according to the KOF Globalisation Index, and we rank 2nd in the Asia-Pacific.
Twelve of our 15 largest export markets are in Asia, generating around A$357 billion in 2019–120 This represents more than three-quarters of our two-way trade. Other top export destinations include US (4th), UK (5th), India (6th), and New Zealand (8th).
Top exports to Asia and Oceania
- Agribusiness and food
- Defence and advanced manufacturing
- Digital technologies