5422.0 - International Merchandise Trade, Australia, Sep 1998  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 19/11/1999   
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November 19, 1999
Embargoed: 11:30 AM (AEST)

Trade with Republic of Korea increased significantly over last 10 years - ABS

    Australia's merchandise exports to Korea increased by 134% over the past ten years while total merchandise exports have increased by 75% over the same period, according to an Australian Bureau of Statistics (ABS) report in the publication International Merchandise Trade, Australia, released today.

    Similarly, merchandise imports from Korea increased by 211% over the last 10 years, while total merchandise imports increased by 90%.

    For most of the 10 year period Korea was the third largest market for Australian exports, and for three of those years was second only to Japan. Over the same period, Korea was in the top 10 in terms of importance as a source of Australia's imports. Korea peaked in 1997-98 as the sixth largest import supplier before declining to seventh in 1998-99. In 1998-99, 7% of Australia's exports went to Korea and 4% of imports came from Korea.

    Korea's share of Australian exports of non-monetary gold, coal, petroleum and internal combustion piston engines all increased over the period, with the largest growth being in internal combustion piston engines. In terms of Australia's imports from Korea, the main increases were in passenger motor vehicles, telecommunications equipment and non-monetary gold, with non-monetary gold showing the largest growth.

    From the Republic of Korea's perspective, Australia is more important as an import source than an export destination. In 1998-99, Australia was the destination for 2% of Korea's exports and the source of 5% of Korea's imports - a small increase over the corresponding percentages for 1989-90 of 1% and 4%.

    The report also contains a commodity breakdown showing the changes in merchandise flows between Australia and Korea.

    International Merchandise Trade, Australia (cat. no. 5422.0) also includes statistics of Australia's merchandise trade for the September quarter of 1999 by commodity and by country. It is available from ABS bookshops in all capital cities. A summary of this publication is available on this site. The ABS encourages media organisations with online news services to link to the summary. Please phone us if you need assistance to do this.

    If you wish to purchase a copy of this publication telephone 02 6252 5249.