Last week the Australian Bureau of Statistics released figures showing that the $6.881 billion in services exports which Australia made to China, tipped total Australian exports over $100 billion for the first time in history. This shows that the bulk of Australian Exports to China are still in actually freight tonnes, but it also shows how important China is as an export market for Australia.
The Federal Minister for Trade, Andrew Robb commented on the economic milestone. He highlighted the strong rise in exports of around $22 billion from 2012 to 2013 and the fact that “China now accounts for almost a third of Australia’s total goods and services exports”.