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Is exporting one of your 2014 strategies?

Release Date

17 March 2014

That is great news!  The 2013 results for export show an excellent upward trend leading to a record performance for the year. Showing exporters have good reason to be optimistic.
 
Data released by the Australian Bureau of Statistics show that in spite of global uncertainties 2013 represented a year of strong growth.
 
This has been greatly assisted by the Governments commitment to supporting our trade-exposed businesses by reducing costs to help make them more profitable and Australia more competitive as a nation. This has included a serious attack on regulation, removing unnecessary taxes such as the mining and carbon taxes and streamlining the approval process for major projects. The trade data shows exports rose by over six per cent to reach a record $319 billion, the third consecutive year exports have exceeded $300 billion.
 
Increases were recorded across the board, with rural exports up nine per cent, resources up eight per cent, services up 6.5 per cent, and manufactures up 1.6 per cent. These outcomes resulted in Australia’s trade deficit narrowing by 69 per cent from the previous year to $7.2 billion in 2013.
For the month of December 2013, Australia recorded a trade surplus of $468 million, with exports rising 3.7 per cent (seasonally-adjusted) to $28.5 billion, more than offsetting the 2.3 per cent rise in imports. Increases in exports were recorded in most sectors. Resource exports rose 4.4 per cent to $14.6 billion with other mineral fuels rising 12 per cent, metal ores and minerals 2.4 per cent and coal, coke and briquettes 4.4 per cent.
 
Rural goods contributed to the rise in exports, up 17 per cent to $3.6 billion, driven by cereals and cereal preparation exports, which rose 78 per cent during the month. Manufacture exports also rose, up 8.5 per cent to $3.6 billion, driven by higher metals and transport equipment exports.
These increases were partially offset by falls in exports of non-monetary gold, down 28 per cent and services, down 0.5 per cent. Imports increased 2.3 per cent to $28 billion. 
 
 
This was largely driven by capital goods, which increased 4.4 per cent to $5.6 billion and consumption goods, which rose 2.8 per cent to $6.9 billion. Australia’s goods exports (not seasonally adjusted) to East Asia continue to rise, reaching $19.3 billion in December to be24.6 per cent higher from a year ago.
 
This confirms that the market is buoyant and confident, exporters be glad!
 
About the Author:

 
Ian Bennett, Senior Manager, International Trade 
 
Ian has been helping Australian small and medium enterprises (SMEs) achieve offshore success for over 16 years, by providing trade advice, assisting with strategy development, export planning and implementation and getting connected in overseas markets. 
 
He has good knowledge of offshore investment strategies and is well briefed on Australia’s many free trade agreements. He assists in both exporting and importing for SMEs.
 

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