Who is the better trading partner for Australia China or the United States?
Table of Contents
Who is the better trading partner for Australia China or the United States?
The largest trading partners
| Rank | Country/District | Total Trade |
|---|---|---|
| 1 | China | 214,672 |
| 2 | Japan | 81,276 |
| 3 | European Union | 60,574 |
| 4 | United States | 44,546 |
How important is China to Australia as a trading partner?
China is Australia’s largest two-way trading partner in goods and services, accounting for nearly one third (31 per cent) of our trade with the world. Two-way trade with China declined 3 per cent in 2020, totalling $245 billion (Australia’s global two-way trade declined 13 per cent during this period).
What country other than China is the biggest trading partner with the United States?
Mexico is the United States top trading partner. The US is highly dependent on its neighbours, Canada and Mexico, for trade. The country’s top trading partner is Mexico, making up 14.8\% of total trade.
Who are Australia’s trade partners and why?
China, Japan & the US Rounding off Australia’s top 10 trading partners in 2018–19 were South Korea, Singapore, New Zealand, the United Kingdom, India, Malaysia and Thailand.
When did China become Australia’s biggest 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 $100 million.
Which country exports the most from China?
List of largest trading partners of China
| Rank | Country / Territory | Total trade |
|---|---|---|
| 1 | United States | 583.3 |
| 2 | European Union | 573.0 |
| – | ASEAN | 514.3 |
| 3 | Japan | 303.0 |
Who are Australia’s main trading partners?
Australia top 5 Export and Import partners
| Exporter | Trade (US$ Mil) | Partner share(\%) |
|---|---|---|
| China | 56,947 | 25.71 |
| United States | 26,226 | 11.84 |
| Japan | 15,472 | 6.99 |
| Thailand | 10,667 | 4.82 |
Is China the largest trading nation in the world?
Since 2014, China has been not only the world’s largest exporter but also the largest trading nation in terms of the sum of its exports and imports.
Which countries are Australia’s biggest trading partners?
China is Australia’s biggest trading partner for both the export and import of goods. Figures 1 and 2 below shows the dominance of China, with 39\% all goods exported in 2019-20 going to China, while 27\% of all goods imported were from China.
What is the relationship like between China and Australia?
Today, China is Australia’s largest trading partner in terms of both imports and exports. Australia is China’s sixth largest trading partner; it is China’s fifth biggest supplier of imports and its tenth biggest customer for exports.
What is the value of trade between Australia and China?
Recent years have seen significant growth in trade between Australia and China. Figure 3 shows the value of goods exported doubling in the five years to 2019-20 from $75b in 2014-15 to $150b in 2019-20; and imports growing significantly also, up 42\% over the same period.
What is Australia’s trade balance with the US?
The US is Australia’s third biggest trading partner. The two-way trade between these countries was valued at $60.4 billion in 2014. Australia exported $18.5 billion worth of goods to the US and imported $41.9 billion, giving Australia a $23.4 billion negative trade balance.