apec trade and investment 2013
DESCRIPTION
APEC Trade and Investment 2013TRANSCRIPT
THE APEC REGION
TRADE AND INVESTMENT
2013
The APEC Region Trade and Investment
2013
Trade Advocacy and Statistics Section Department of Foreign Affairs and Trade, Australia
September 2013
ISSN 1321-6708 (Print) ISSN 1839-5589 (Online) ISBN 978-1-74322-118-1 (Book) ISBN 978-1-74322-117-4 (PDF format)
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Unless otherwise specified, all amounts are in Australian dollars.
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Contents
Table No. Page
. . APEC’s economic and trade highlights .......................................................................................... 1
. . Australia’s trade highlights with the APEC region – 2012 ............................................................... 2 — Composition of trade .............................................................................................................. 3 — Direction of trade ..................................................................................................................... 4 — Australia’s investment relationship with APEC members ........................................................ 5 . . Charts – APEC members’ intra- and extra-regional merchandise exports ...................................... 6
Section 1: Australia’s trade and investment with APEC
Statistical tables
Table No. Page
1 Australia’s exports of goods and services ....................................................................................... 13 2 Australia’s imports of goods and services ....................................................................................... 13 3 Australia’s total trade in goods and services ................................................................................... 14 4 Australia’s trade balance ................................................................................................................. 14 5 Australia’s trade with APEC by level of processing ......................................................................... 15 6 Australia’s merchandise trade with APEC ....................................................................................... 16 7 Australia’s services trade with APEC .............................................................................................. 18 8 Foreign investment in Australia from APEC members – level of investment .................................. 19 9 Australian investment in APEC members – level of investment ...................................................... 20 10 Australia’s international investment position with APEC – total and direct investment ................... 21
Section 2: APEC statistical tables
Table No. Page
11 Selected indicators – APEC and the World ........................................................................................ 24 12 Trade in goods and services – APEC and the World ......................................................................... 25 13 Goods and services trade, by APEC members .................................................................................. 26 14 Intra-APEC merchandise trade .......................................................................................................... 27
Section 3: Technical appendices A Explanatory notes ............................................................................................................................... 30 B Abbreviations and symbols used in all DFAT trade statistical publications ........................................ 34
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A WORLD OF TRADE DATA AT YOUR
FINGERTIPS
AUSTRALIA'S MERCHANDISE EXPORTS AND IMPORTSCountry and commodity pivot table – 2006 to 2012
Direction ExportsCountry (All)
A$'000 Column LabelsRow Labels 2006 2011 2012001 Live animals (excl seafood) 881,973 1,071,078 1,050,491011 Beef, f.c.f. 4,855,678 4,683,991 4,754,352012 Meat (excl beef), f.c.f. 2,112,152 2,374,928 2,370,345016 Meat, salted or dried 8,914 5,671 6,120017 Meat, prepared or preserved 108,433 64,743 70,906022 Milk, cream, whey & yoghurt 1,388,395 1,210,392 1,234,301
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APEC’s economic and trade highlights
APEC’s GDP (in PPP terms) – 1992 to 20121 • As a group, APEC’s GDP in Purchasing Power Parity (PPP) terms2 has increased almost three-fold from
$14.8 trillion in 1992 to $46.6 trillion in 2012.
• In 2012, APEC accounted for 56.0 per cent of the world’s GDP in PPP terms compared with 53.2 per cent in 1992.
• APEC’s GDP has grown at an average 6.0 per cent per annum since 1992 in PPP terms – faster than both non-APEC countries’ average growth (5.6 per cent) and the world’s average growth (5.8 per cent) over the same period.
• APEC’s population grew by an average 0.9 per cent per annum from 2.2 billion (1992) to 2.8 billion (2012) compared with the world population which grew by an average 1.3 per cent per annum for the same period. APEC accounted for 39.6 per cent of world population in 2012.
• APEC’s per capita GDP has risen from $6,751 in 1992 to $16,760 in 2012 in PPP terms – higher than both non-APEC countries’ average GDP per capita of $8,624 (up from $4,008 in 1992) and the world’s average GDP per capita of $11,847 in 2012 (up from $5,113 in 1992).
GDP per capita PPP (a)
APEC’s trade (in US dollars)3 • Goods and services exported by APEC members to the world have increased from US$2.1 trillion in 1992 to
US$10.3 trillion in 2012. Similarly, goods and services imported by APEC members have risen from US$2.0 trillion to US$10.8 trillion.
• Intra-regional merchandise exports and imports amongst APEC economies have been robust, growing at an average of 8.1 per cent and 8.2 per cent per annum respectively since 1992.
• In 2012, intra-regional merchandise exports accounted for 69.1 per cent of APEC’s total merchandise exports while intra-regional merchandise imports accounted for 68.5 per cent.
1 The Russian Federation is not included in the IMF WEO database and various international trade sources for 1989 to 1991 and therefore cannot be included in the APEC total for this period. The comparison of historical APEC GDP and trade is therefore for the period 1992 to 2012 only as this period includes all APEC members. 2 An international dollar has the same purchasing power over GDP as a US dollar has in the United States at a set point in time. See Explanatory notes for more details. 3 Goods (merchandise) trade is published on a recorded trade basis, services on a balance of payments basis.
0
3,000
6,000
9,000
12,000
15,000
18,000
1992 2012
APEC non-APEC World(a) In international dollars. Source: IMF WEO, April 2013.
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Australia’s trade highlights with the APEC region – 20124
Australia’s trade in goods and services with the APEC region
Based on ABS trade data on DFAT STARS database & ABS catalogue 5368.0.
• The value of total trade in goods and services with the APEC region increased 1.4 per cent to $437.8 billion in 2012
– since 2007, total trade values have increased by an average of 6.5 per cent per annum.
• APEC accounted for 71.1 per cent of Australia’s total trade in goods and services.
Australia’s goods and services exports to the APEC region
Based on ABS trade data on DFAT STARS database & ABS catalogue 5368.0.
• The value of exports to the APEC region fell by 3.0 per cent to $231.4 billion in 2012
– however, since 2007, export values have increased by 9.0 per cent per annum.
• Primary products decreased 7.1 per cent to $137.8 billion.
• Manufactured products (including both STM and ETM) fell 3.6 per cent to $30.6 billion.
• Other goods increased 14.1 per cent to $31.9 billion.
• Services rose 1.8 per cent to $31.1 billion.
Australia’s goods and services imports from the APEC region
Based on ABS trade data on DFAT STARS database & ABS catalogue 5368.0.
• The value of imports from the APEC region increased 6.8 per cent to $206.4 billion in 2012
– since 2007, import values have risen by 4.0 per cent per annum.
• Primary products increased 4.6 per cent to $37.6 billion.
• Manufactured products (including both STM and ETM) rose 10.1 per cent to $122.4 billion.
• Other goods decreased 7.1 per cent to $11.9 billion.
• Services rose 3.5 per cent to $34.5 billion.
4 Unless otherwise stated, all dollar amounts quoted in the following sections are measured in Australian dollars and are in current price terms. Goods (merchandise) trade is published on a recorded trade basis, services on a balance of payments basis.
-50
0
50
100
150
200
250
-50
0
50
100
150
200
250
2002 2004 2006 2008 2010 2012
Balance Exports Imports
A$b A$b
Primary products 59.6%
STM (excl Nickel) 4.4%
ETM 8.8%
Other goods 13.8%
Services 13.4%
Primary products 18.2%
STM 3.9%
ETM 55.4%
Other goods 5.8%
Services 16.7%
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Composition of trade
Composition of Australia’s merchandise exports to the APEC region5
Based on ABS trade data on DFAT STARS database.
• Australia’s major merchandise exports to the APEC region in 2012 were
– Iron ore & concentrates – down 15.1 per cent to $54.3 billion
– Coal – down 4.8 per cent to $31.4 billion
– Crude petroleum – up 0.2 per cent to $10.7 billion
– Gold – up 28.5 per cent to $8.4 billion
– Wheat – up 10.6 per cent to $4.7 billion.
Composition of Australia’s merchandise imports from the APEC region5
Based on ABS trade data on DFAT STARS database.
• Australia’s major merchandise imports from the APEC region in 2012 were
– Refined petroleum – up 9.6 per cent to $14.5 billion
– Crude petroleum – down 0.4 per cent to $12.7 billion
– Passenger motor vehicles – up 25.9 per cent to $12.1 billion
– Telecom equipment & parts – up 9.2 per cent to $8.1 billion
– Goods vehicles – up 35.5 per cent to $6.9 billion.
Australia’s services trade with the APEC region
Based on ABS catalogue 5368.0.
• The three main Services exports in 2012 were – Transport services – down 0.8 per cent to $3.5
billion – Travel services – up 1.4 per cent to
$19.2 billion. – Other services6 – up 4.2 per cent to
$8.3 billion.
• In 2012, the three main Services imports were – Transport services – up 2.5 per cent to $8.8
billion – Travel services – up 3.9 per cent to
$15.7 billion – Other services6 – up 3.1 per cent to $9.7 billion.
5 Excludes confidential items – refer to the Explanatory notes. 6 Other services consist of services such as: Construction; Insurance & pension; Financial; Intellectual property charges; Telecommunications, computer & information; Other business services; Personal, cultural & recreational; and Government services. It excludes Manufacturing services on physical inputs owned by others and Maintenance & repair services nie.
0
15
30
45
60
75
2011 2012
A$b
Iron ores & concentrates CoalCrude petroleum GoldWheat
0
4
8
12
16
2011 2012
A$b
Refined petroleum Crude petroleumPassenger motor vehicles Telecom equipment & partsGoods vehicles
0
5
10
15
20
Exports Imports
A$b 2012
Transport Travel Other
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Direction of trade
• China was Australia’s largest two-way goods and services trading partner in the APEC region in 2012, accounting for 28.6 per cent ($125.1 billion) of Australia’s total trade with the APEC region.
• China was both Australia’s largest export market and import source within the APEC region, accounting for 34.0 per cent ($78.7 billion) of total exports to the APEC region, and 22.4 per cent ($46.3 billion) of total imports from the APEC region.
Major goods and services export markets
Based on ABS trade data on DFAT STARS database & ABS catalogue 5368.0.55.004.
• Australia’s major export markets in the APEC region in 2012 were
– China – up 2.1 per cent to $78.7 billion
– Japan – down 5.0 per cent to $49.8 billion
– Republic of Korea – down 13.7 per cent to $21.6 billion
– United States – down 2.4 per cent to $14.6 billion
– New Zealand – up 0.5 per cent to $11.1 billion.
Major goods and services import sources
Based on ABS trade data on DFAT STARS database & ABS catalogue 5368.0.55.004.
• Australia’s major import sources from the APEC region in 2012 were
– China – up 5.5 per cent to $46.3 billion
– United States – up 5.3 per cent to $41.6 billion
– Japan –up 5.9 per cent to $21.3 billion
– Singapore – up 3.7 per cent to $18.8 billion
– Thailand –up 18.3 per cent to $12.7 billion.
0
20
40
60
80
China Japan Rep ofKorea
UnitedStates
NewZealand
A$b
2011 2012
0
10
20
30
40
50
China UnitedStates
Japan Singapore Thailand
A$b
2011 2012
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Australia’s investment relationship with APEC members
• The level of investment in Australia by APEC members rose 9.3 per cent to $970.6 billion in 2012. Direct investment by APEC members in Australia accounted for 28.5 per cent of total investment and was worth $276.4 billion.
• Australian investment in APEC members rose 7.3 per cent to $736.0 billion. Direct investment accounted for 31.1 per cent of total Australian investment in APEC members and was valued at $229.1 billion.
Major investment sources
Based on ABS catalogue 5352.0.
• Australia’s major sources of investment from APEC members in 2012 were
– United States – investment levels rose 12.3 per cent to $617.6 billion
– Japan – investment levels up 1.3 per cent to $126.4 billion
– Singapore – investment levels rose 15.3 per cent to $55.9 billion
– Hong Kong, China – investment levels up 5.2 per cent to $42.1 billion
− Canada – investment levels rose 19.2 per cent to $31.8 billion.
Major investment destinations
Based on ABS catalogue 5352.0.
• Australia’s major destinations for investment in APEC members in 2012 were
– United States – investment levels up 4.1 per cent to $434.0 billion
– New Zealand – investment levels rose 5.1 per cent to $77.5 billion
– Canada – investment levels down 2.8 per cent to $42.7 billion.
– Japan – investment levels up 11.5 per cent to $39.1 billion
– Singapore – investment levels rose 19.4 per cent to $26.7 billion.
0
100
200
300
400
500
600
700
UnitedStates
Japan Singapore HongKong,China
Canada
A$b
2011 2012
0
100
200
300
400
500
UnitedStates
NewZealand
Canada Japan Singapore
A$b
2011 2012
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APEC members’ intra- and extra-regional merchandise exports
APEC
Sources: Global Trade Atlas, UN Comtrade database and IMF, Direction of Trade Statistics.
Brunei
Source: IMF, Direction of Trade Statistics.
Chile
Source: Global Trade Atlas.
Australia
Based on ABS data on the DFAT STARS database.
Canada
Source: Global Trade Atlas.
China
Source: Global Trade Atlas.
Intra-regional
Extra-regional
0
2
4
6
8
10
2007 2008 2009 2010 2011 2012
US$tr
Intra-regional
Extra-regional
0
2
4
6
8
10
12
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
20
40
60
80
100
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
40
80
120
160
200
240
280
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
100
200
300
400
500
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
500
1,000
1,500
2,000
2,500
2007 2008 2009 2010 2011 2012
US$b
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Hong Kong, China
Source: Global Trade Atlas.
Japan
Source: Global Trade Atlas.
Mexico
Source: Global Trade Atlas.
Indonesia
Source: Global Trade Atlas.
Malaysia
Source: Global Trade Atlas.
New Zealand
Source: Global Trade Atlas.
Intra-regional
Extra-regional
0
100
200
300
400
500
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
200
400
600
800
1,000
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
100
200
300
400
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
50
100
150
200
250
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
50
100
150
200
250
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
10
20
30
40
2007 2008 2009 2010 2011 2012
US$b
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Papua New Guinea
Source: IMF, Direction of Trade Statistics.
Philippines
Source: Global Trade Atlas.
Russian Federation
Source: UN Comtrade database.
Peru
Source: UN Comtrade database.
Republic of Korea
Source: Global Trade Atlas.
Singapore
Source: Global Trade Atlas.
Intra-regional
Extra-regional
0
3
6
9
12
15
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
15
30
45
60
2007 2008 2009 2010 2011 2012
US$b
Extra-regional
0
100
200
300
400
500
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Intra-regional
Extra-regional
0
10
20
30
40
50
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
100
200
300
400
500
600
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
100
200
300
400
500
2007 2008 2009 2010 2011 2012
US$b
- 9 -
Chinese Taipei
Source: Global Trade Atlas.
United States
Source: Global Trade Atlas.
Thailand
Source: Global Trade Atlas.
Vietnam
Source: IMF, Direction of Trade Statistics.
Intra-regional
Extra-regional
0
60
120
180
240
300
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
200
400
600
800
1,000
1,200
1,400
1,600
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
50
100
150
200
250
2007 2008 2009 2010 2011 2012
US$b
Intra-regional
Extra-regional
0
20
40
60
80
100
120
2007 2008 2009 2010 2011 2012
US$b
- 10 -
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Section 1Australia's trade and investment
with APEC
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% share % growthAPEC World 2011 to 5 year
Major country 2010 2011 2012 total total 2012 trend
Brunei 89 91 80 0.0 0.0 -12.1 -1.4Canada 2,003 2,327 2,453 1.1 0.8 5.4 -1.0Chile 445 674 661 0.3 0.2 -1.9 12.5China 64,104 77,103 78,715 34.0 26.2 2.1 24.6Hong Kong, China 4,828 4,757 4,337 1.9 1.4 -8.8 0.1Indonesia 5,706 6,656 6,116 2.6 2.0 -8.1 5.7Japan 45,655 52,366 49,756 21.5 16.6 -5.0 5.6Malaysia 5,254 6,132 6,744 2.9 2.2 10.0 7.2Mexico 787 1,187 936 0.4 0.3 -21.1 7.7New Zealand 11,270 11,012 11,070 4.8 3.7 0.5 -3.6Papua New Guinea 2,765 3,058 3,457 1.5 1.2 13.0 11.6Peru 178 193 222 0.1 0.1 15.0 10.5Philippines 1,664 1,979 2,308 1.0 0.8 16.6 8.6Republic of Korea 22,337 24,989 21,562 9.3 7.2 -13.7 7.7Russian Federation 963 1,096 930 0.4 0.3 -15.1 3.2Singapore 7,431 9,520 10,259 4.4 3.4 7.8 4.6Chinese Taipei 8,920 9,679 8,631 3.7 2.9 -10.8 5.8Thailand 6,831 7,731 5,772 2.5 1.9 -25.3 4.0United States 14,289 14,993 14,632 6.3 4.9 -2.4 -2.5Vietnam 2,439 2,961 2,711 1.2 0.9 -8.4 9.0Total APEC 207,965 238,508 231,361 100.0 77.1 -3.0 9.0Total World 283,481 313,232 299,900 100.0 -4.3 6.1
% share % growthAPEC World 2011 to 5 year
Major country 2010 2011 2012 total total 2012 trend
Brunei 1,137 1,358 1,127 0.5 0.4 -17.0 0.2Canada 2,533 2,579 3,225 1.6 1.0 25.0 -0.9Chile 1,129 1,160 1,480 0.7 0.5 27.6 18.2China 40,910 43,929 46,335 22.4 14.7 5.5 8.2Hong Kong, China 3,073 3,131 3,206 1.6 1.0 2.4 -0.5Indonesia 7,134 8,115 8,516 4.1 2.7 4.9 9.1Japan 20,394 20,118 21,298 10.3 6.7 5.9 0.2Malaysia 10,239 9,877 10,913 5.3 3.5 10.5 4.3Mexico 1,457 1,826 2,036 1.0 0.6 11.5 11.3New Zealand 9,919 10,540 10,168 4.9 3.2 -3.5 2.6Papua New Guinea 3,501 4,208 3,972 1.9 1.3 -5.6 7.7Peru 190 148 147 0.1 0.0 -0.7 -0.6Philippines 939 970 1,130 0.5 0.4 16.5 -1.2Republic of Korea 7,704 7,644 10,313 5.0 3.3 34.9 8.1Russian Federation 450 1,085 954 0.5 0.3 -12.1 29.7Singapore 14,165 18,157 18,826 9.1 6.0 3.7 2.2Chinese Taipei 3,883 3,976 4,006 1.9 1.3 0.8 -3.1Thailand 12,955 10,698 12,657 6.1 4.0 18.3 2.8United States (b) 35,721 39,469 41,556 20.1 13.1 5.3 4.0Vietnam 3,819 3,592 3,924 1.9 1.2 9.2 -7.5Total APEC (b) 181,876 193,207 206,414 100.0 65.3 6.8 4.0Total World 269,155 294,436 316,126 100.0 7.4 4.5
(a) All data is on a BOP basis, except for goods by country which are on a recorded trade basis. (b) Includes confidential United States' aircraft imports from 2008 onwards.Based on ABS trade data on DFAT STARS database, ABS catalogue 5368.0.55.004 and unpublished ABS data.
(A$ million)TABLE 2: AUSTRALIA'S IMPORTS OF GOODS AND SERVICES (a)
TABLE 1: AUSTRALIA'S EXPORTS OF GOODS AND SERVICES (a)(A$ million)
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% share % growth
APEC World 2011 to 5 yearMajor country 2010 2011 2012 total total 2012 trend
Brunei 1,226 1,449 1,207 0.3 0.2 -16.7 0.1Canada 4,536 4,906 5,678 1.3 0.9 15.7 -1.0Chile 1,574 1,834 2,141 0.5 0.3 16.7 16.2China 105,014 121,032 125,050 28.6 20.3 3.3 17.1Hong Kong, China 7,901 7,888 7,543 1.7 1.2 -4.4 -0.1Indonesia 12,840 14,771 14,632 3.3 2.4 -0.9 7.5Japan 66,049 72,484 71,054 16.2 11.5 -2.0 3.8Malaysia 15,493 16,009 17,657 4.0 2.9 10.3 5.4Mexico 2,244 3,013 2,972 0.7 0.5 -1.4 10.0New Zealand 21,189 21,552 21,238 4.9 3.4 -1.5 -0.9Papua New Guinea 6,266 7,266 7,429 1.7 1.2 2.2 9.4Peru 368 341 369 0.1 0.1 8.2 5.0Philippines 2,603 2,949 3,438 0.8 0.6 16.6 4.7Republic of Korea 30,041 32,633 31,875 7.3 5.2 -2.3 7.9Russian Federation 1,413 2,181 1,884 0.4 0.3 -13.6 12.3Singapore 21,596 27,677 29,085 6.6 4.7 5.1 3.0Chinese Taipei 12,803 13,655 12,637 2.9 2.1 -7.5 2.6Thailand 19,786 18,429 18,429 4.2 3.0 0.0 3.3United States (b) 50,010 54,462 56,188 12.8 9.1 3.2 2.1Vietnam 6,258 6,553 6,635 1.5 1.1 1.3 -2.1Total APEC (b) 389,841 431,715 437,775 100.0 71.1 1.4 6.5Total World 552,636 607,668 616,026 100.0 1.4 5.3
Major country 2010 2011 2012
Brunei -1,048 -1,267 -1,047Canada -530 -252 -772Chile -684 -486 -819China 23,194 33,174 32,380Hong Kong, China 1,755 1,626 1,131Indonesia -1,428 -1,459 -2,400Japan 25,261 32,248 28,458Malaysia -4,985 -3,745 -4,169Mexico -670 -639 -1,100New Zealand 1,351 472 902Papua New Guinea -736 -1,150 -515Peru -12 45 75Philippines 725 1,009 1,178Republic of Korea 14,633 17,345 11,249Russian Federation 513 11 -24Singapore -6,734 -8,637 -8,567Chinese Taipei 5,037 5,703 4,625Thailand -6,124 -2,967 -6,885United States (b) -21,432 -24,476 -26,924Vietnam -1,380 -631 -1,213Total APEC (b) 26,089 45,301 24,947Total World 14,326 18,796 -16,226
(a) All data is on a BOP basis, except for goods by country which are on a recorded trade basis. (b) Includes confidentialUnited States' aircraft imports from 2008 onwards.Based on ABS trade data on DFAT STARS database, ABS catalogue 5368.0.55.004 and unpublished ABS data.
TABLE 3: AUSTRALIA'S TOTAL TRADE IN GOODS AND SERVICES (a)(A$ million)
TABLE 4: AUSTRALIA'S TRADE BALANCE IN GOODS AND SERVICES (a)(A$ million)
- 15 -
% growth2011 to 5 year
2010 2011 2012 % share 2012 trend
ExportsTotal Primary products (b) 123,182 148,351 137,827 59.6 -7.1 14.9
Unprocessed food 5,681 7,620 8,516 3.7 11.8 24.9Processed food 11,837 12,327 12,168 5.3 -1.3 -0.5Minerals 59,338 75,510 65,623 28.4 -13.1 23.9Fuels 41,335 46,082 44,978 19.4 -2.4 9.8Other primary 4,991 6,812 6,541 2.8 -4.0 10.7
Total Manufactured products (b) 30,280 31,688 30,555 13.2 -3.6 -0.9STM (excl Nickel) 11,532 11,950 10,206 4.4 -14.6 -3.4ETM 18,747 19,738 20,349 8.8 3.1 0.5
Other 24,734 27,914 31,862 13.8 14.1 7.5Gold 3,767 6,504 8,357 3.6 28.5 36.8
Services (c) 29,769 30,555 31,117 13.4 1.8 1.5Manufacturing services 38 25 10 0.0 -60.0 -6.9Maintenance & repair 42 32 36 0.0 12.5 -15.9Transport 3,515 3,572 3,543 1.5 -0.8 -6.8Travel 18,868 18,958 19,224 8.3 1.4 3.4Other 7,306 7,968 8,304 3.6 4.2 2.1
Total exports 207,965 238,508 231,361 100.0 -3.0 9.0
ImportsTotal Primary products (b) 29,777 35,904 37,560 18.2 4.6 4.7
Unprocessed food 959 1,055 1,045 0.5 -0.9 5.7Processed food 5,779 6,414 6,728 3.3 4.9 8.1Minerals 464 685 763 0.4 11.4 3.1Fuels 21,588 26,726 28,047 13.6 4.9 4.4Other primary 988 1,023 976 0.5 -4.6 -3.4
Total Manufactured products (b) 108,410 111,146 122,425 59.3 10.1 3.7STM 7,613 7,822 8,005 3.9 2.3 1.5ETM 100,797 103,324 114,421 55.4 10.7 3.9
Other (d) 13,226 12,811 11,900 5.8 -7.1 14.7Gold 6,447 5,581 4,938 2.4 -11.5 0.2
Services (c) 30,463 33,346 34,526 16.7 3.5 3.9Manufacturing services 0 0 0 0.0 .. ..Maintenance & repair 228 311 395 0.2 27.0 33.9Transport 7,640 8,580 8,795 4.3 2.5 0.2Travel 13,827 15,092 15,685 7.6 3.9 9.1Other 8,768 9,363 9,651 4.7 3.1 0.0
Total imports 181,876 193,207 206,414 100.0 6.8 4.0
(a) Goods on recorded trade basis, services on balance of payments basis. (b) Excludes confidential items of trade. (c) Cells in thistable may have been perturbed to protect confidentiality. (d) Includes confidential United States' aircraft imports from 2008 onwards. Based on ABS trade data on DFAT STARS database, ABS catalogue 5368.0.55.004 and unpublished ABS data.
TABLE 5: AUSTRALIA'S TRADE WITH APECBY LEVEL OF PROCESSING (a)
(A$ million)
- 16 -
% growth2011 to 5 year
Rank SITC Commodity 2010 2011 2012 2012 trendTop 20 merchandise exports
1 281 Iron ores & concentrates 49,224 63,987 54,324 -15.1 29.02 321 Coal 29,732 32,999 31,421 -4.8 13.63 333 Crude petroleum 9,506 10,685 10,710 0.2 5.94 971 Gold 3,767 6,504 8,357 28.5 36.85 041 Wheat 2,659 4,250 4,701 10.6 73.3
6 011 Beef, f.c.f. 4,090 4,306 4,344 0.9 -0.77 283 Copper ores & concentrates 3,583 3,900 3,736 -4.2 7.38 684 Aluminium 4,250 4,463 3,611 -19.1 -7.89 682 Copper 2,921 3,607 3,257 -9.7 3.3
10 542 Medicaments (incl veterinary) 2,733 2,603 3,155 21.2 8.6
11 287 Other ores & concentrates (c) 3,439 3,600 3,067 -14.8 2.312 263 Cotton 936 2,308 2,464 6.8 45.613 268 Wool & other animal hair (incl tops) 1,800 2,265 2,026 -10.6 5.114 334 Refined petroleum 947 1,329 1,638 23.3 -4.115 012 Meat (excl beef), f.c.f. 1,487 1,616 1,588 -1.7 1.9
16 284 Nickel ores & concentrates 788 1,209 1,424 17.8 10.417 112 Alcoholic beverages 1,321 1,260 1,263 0.2 -3.618 081 Animal feed 879 960 1,125 17.2 7.119 342 Liquefied propane & butane 1,024 906 1,020 12.6 -2.320 792 Aircraft, spacecraft & parts 465 873 893 2.3 10.2
Total merchandise exports 178,196 207,953 200,244 -3.7 10.4
Top 20 merchandise imports1 334 Refined petroleum 9,070 13,209 14,473 9.6 9.22 333 Crude petroleum 11,926 12,769 12,719 -0.4 0.33 781 Passenger motor vehicles 11,465 9,603 12,086 25.9 3.34 764 Telecom equipment & parts 6,670 7,378 8,060 9.2 7.15 782 Goods vehicles 5,282 5,087 6,892 35.5 7.5
6 752 Computers 6,181 6,273 6,388 1.8 4.47 723 Civil engineering equipment & parts 2,001 2,872 4,999 74.1 13.58 971 Gold 6,447 5,581 4,938 -11.5 0.29 821 Furniture, mattresses & cushions 2,261 2,384 2,516 5.5 3.6
10 625 Rubber tyres, treads & tubes 1,847 2,254 2,491 10.5 12.8
11 542 Medicaments (incl veterinary) 1,782 1,865 2,372 27.2 9.712 784 Vehicle parts & accessories 1,743 1,887 2,190 16.1 3.813 894 Prams, toys, games & sporting goods 2,322 2,117 2,091 -1.2 -0.914 778 Electrical machinery & parts, nes 1,908 1,961 2,051 4.6 3.915 761 Monitors, projectors & TVs 2,700 2,188 1,828 -16.5 -8.6
16 741 Heating & cooling equipment & parts 1,850 1,702 1,797 5.6 2.917 893 Plastic articles, nes 1,595 1,662 1,796 8.1 4.118 874 Measuring & analysing instruments 1,527 1,506 1,778 18.1 2.919 691 Iron, steel, aluminium structures 627 1,377 1,735 26.0 38.220 751 Office machines 1,896 1,793 1,682 -6.2 0.5
Total merchandise imports (c) 151,413 159,861 171,885 7.5 4.1
(a) Rank based on 2012. (b) Mainly Manganese , Lead and Zinc ores & concentrates. (c) Includes confidential items of trade - see Explanatory notes .Based on ABS trade data on DFAT STARS database and unpublished ABS data.
TABLE 6: AUSTRALIA'S MERCHANDISE TRADE WITH APEC(A$ million) (a)
- 17 -
AUSTRALIA'S MAJOR MERCHANDISE TRADE WITH APEC
0
5
10
15
20
2007 2008 2009 2010 2011 2012
A$b Refined petroleum
0
20
40
60
80
2007 2008 2009 2010 2011 2012
A$b Iron ores & concentrates
0
10
20
30
40
2007 2008 2009 2010 2011 2012
A$b Coal
0
3
6
9
12
2007 2008 2009 2010 2011 2012
A$b Crude petroleum
0
2
4
6
8
10
2007 2008 2009 2010 2011 2012
A$b Gold
0
1
2
3
4
5
2007 2008 2009 2010 2011 2012
A$b Wheat
0
5
10
15
20
2007 2008 2009 2010 2011 2012
A$b Crude petroleum
0
2
4
6
8
10
2007 2008 2009 2010 2011 2012
A$b Telecom equipment & parts
0
2
4
6
8
2007 2008 2009 2010 2011 2012
A$b Goods vehicles
Exports Imports
0
3
6
9
12
15
2007 2008 2009 2010 2011 2012
A$b Passenger motor vehicles
- 18 -
TABLE 7: AUSTRALIA'S SERVICES TRADE WITH APEC(A$ million)
2008 2009 2010 2011 2012
Total services exports 30,165 29,619 29,769 30,555 31,117
Total services imports 32,440 29,685 30,463 33,346 34,526
Balance on services trade 1,196 -2,089 260 -238 -3,139
Services exports
21 55 38 25 10Manufacturing & repair services nie 58 52 42 32 36
Transport services 5,230 3,621 3,515 3,572 3,543
Travel services 17,049 18,152 18,868 18,958 19,224Business 1,844 1,808 1,976 2,393 2,756Personal 15,205 16,343 16,892 16,564 16,467
Education-related 8,844 9,787 9,998 9,670 9,369Other 6,361 6,556 6,894 6,894 7,098
Construction services 60 101 81 56 23Insurance & pension services 343 279 290 365 411Financial services 625 595 426 576 747Intellectual property charges nie 484 647 740 731 642Telecom. computer & information services 1,017 1,010 813 778 691Other business services 4,482 4,272 4,137 4,657 4,919Personal, cultural & recreational services 348 385 369 356 421Government services 448 450 450 450 450
Services imports
0 0 0 0 0Manufacturing & repair services nie 92 193 228 311 395
Transport services 9,654 6,816 7,640 8,580 8,795
Travel services 12,378 12,923 13,827 15,092 15,685Business 2,171 1,856 1,899 1,928 2,183Personal 10,208 11,067 11,929 13,164 13,501
Education-related 508 479 540 527 571Other 9,700 10,587 11,388 12,637 12,930
Construction services 0 0 0 0 0Insurance & pension services 173 144 145 123 123Financial services 971 512 351 525 564Intellectual property charges nie 2,087 1,933 2,015 2,216 2,334Telecom. computer & information services 1,126 1,192 1,123 949 805Other business services 4,640 4,637 3,898 4,115 4,419Personal, cultural & recreational services 853 846 748 945 916Government services 467 488 488 488 488
Based on ABS catalogue 5368.0.55.004.
Manufacturing services on physical inputs owned by others
Manufacturing services on physical inputs owned by others
- 19 -
LEVEL OF INVESTMENT (a)
% growth
% share of 2011 to 5 yearMajor country 2010 2011 2012 APEC total 2012 trend
Brunei 20 18 21 0.0 16.7 3.1Canada 20,790 26,696 31,822 3.3 19.2 22.8Chile np np np .. .. ..China 19,463 19,760 22,947 2.4 16.1 30.4Hong Kong, China 39,603 40,019 42,104 4.3 5.2 -4.1
Indonesia 409 444 595 0.1 34.0 2.4Japan 118,684 124,770 126,434 13.0 1.3 14.1Malaysia 8,399 14,267 14,925 1.5 4.6 15.2Mexico 37 41 33 0.0 -19.5 24.1New Zealand 34,439 28,648 28,040 2.9 -2.1 -5.6
Papua New Guinea 1,799 1,456 -465 0.0 -131.9 ..Peru np np np .. .. ..Philippines 997 430 911 0.1 111.9 -0.8Republic of Korea 9,250 12,771 12,027 1.2 -5.8 11.8Russian Federation 1,259 1,452 4,503 0.5 210.1 ..
Singapore 41,942 48,532 55,938 5.8 15.3 6.3Chinese Taipei 4,622 4,844 4,968 0.5 2.6 4.5Thailand 4,962 13,393 7,302 0.8 -45.5 103.6United States 542,795 549,789 617,567 63.6 12.3 7.0Vietnam np 184 261 0.0 41.8 ..
Total APEC 850,150 888,327 970,649 100.0 9.3 7.6
World 1,965,146 2,020,125 2,167,673 7.3 5.0
Australia's top 5 foreign investment sources in APEC (b) - level
(a) Level at end of period. (b) Data shown on different scales.Based on ABS catalogue 5352.0.
TABLE 8: FOREIGN INVESTMENT IN AUSTRALIA FROM APEC MEMBERS
(A$ million)
0
200
400
600
800
United States
A$b
0
30
60
90
120
150
Japan Singapore Hong Kong,China
Canada
A$b
2010 2011 2012
- 20 -
LEVEL OF INVESTMENT (a)
% growth
% share of 2011 to 5 yearMajor country 2010 2011 2012 APEC total 2012 trend
Brunei np 10 15 0.0 50.0 ..Canada 37,599 43,972 42,744 5.8 -2.8 5.5Chile 2,184 2,336 2,701 0.4 15.6 8.1China 12,071 17,142 19,787 2.7 15.4 30.1Hong Kong, China 29,500 20,881 25,522 3.5 22.2 5.5
Indonesia 5,352 5,339 6,758 0.9 26.6 12.9Japan 31,069 35,060 39,103 5.3 11.5 1.2Malaysia 5,012 5,858 7,967 1.1 36.0 20.5Mexico 3,763 3,137 5,187 0.7 65.3 25.1New Zealand 75,106 73,735 77,465 10.5 5.1 1.5
Papua New Guinea 15,752 16,123 18,618 2.5 15.5 49.5Peru np np np .. .. ..Philippines 3,863 5,433 7,134 1.0 31.3 39.5Republic of Korea 7,297 7,969 10,389 1.4 30.4 2.5Russian Federation 1,190 1,480 1,799 0.2 21.6 16.4
Singapore 26,179 22,325 26,661 3.6 19.4 5.6Chinese Taipei 4,300 3,796 3,731 0.5 -1.7 7.8Thailand 1,883 np 2,850 0.4 .. ..United States 407,710 416,779 433,980 59.0 4.1 1.1Vietnam 716 611 np .. .. ..
Total APEC 672,081 685,866 735,983 100.0 7.3 3.3
World 1,203,203 1,186,549 1,297,633 9.4 4.3
Australia's top 5 Australian investment destinations in APEC (b) - level
(a) Level at end of period. (b) Data shown on different scales.Based on ABS catalogue 5352.0.
TABLE 9: AUSTRALIAN INVESTMENT IN APEC MEMBERS
(A$ million)
0
50
100
150
200
250
300
350
400
450
United States
A$b
0
20
40
60
80
New Zealand Canada Japan Singapore
A$b
2010 2011 2012
- 21 -
TABLE 10: AUSTRALIA'S INTERNATIONAL INVESTMENT POSITION WITH APEC(A$ million)
Period
Position at thebeginning of the
period TransactionsOther changes
(a)
Position at theend of the
periodInvestment
income
2010 644,644 42,498 -15,061 672,081 21,2292011 672,081 48,856 -35,071 685,866 21,0332012 685,866 10,917 39,200 735,983 19,615
2010 795,192 78,805 -23,847 850,150 36,7112011 850,150 58,518 -20,341 888,327 36,6432012 888,327 61,388 20,934 970,649 30,078
2010 204,626 20,875 -14,701 210,800 10,2282011 210,800 16,518 -17,578 209,740 11,5842012 209,740 4,816 14,520 229,076 11,538
2010 200,664 37,129 -4,841 232,952 21,1182011 232,952 38,302 -21,889 249,365 19,6422012 249,365 31,863 -4,871 276,357 14,280
(a) Includes changes to the level of investment due to price movements, exchange rate movements and otheradjustments.Based on ABS catalogue 5352.0.
APEC direct investment in Australia
Australian total investment in APEC
APEC total investment in Australia
Australian direct investment in APEC
0
200
400
600
800
1,000
1,200
2007 2008 2009 2010 2011 2012
A$b Total investment
Australian investment in APEC
APEC investment in Australia
0
50
100
150
200
250
300
2007 2008 2009 2010 2011 2012
A$b Direct investment
Australian direct investment in APEC
APEC direct investment in Australia
- 22 -
- 23 -
APEC statistical tables
Section 2
- 24 -
trend2011 to 1992 to
1989 1996 2002 2006 2011 2012 2012 2012 (c)
APEC 10,945 17,189 20,191 27,434 39,166 41,210 5.2 5.5Non-APEC (b) 8,117 13,358 13,212 22,018 31,054 30,497 -1.8 6.0World 19,062 30,547 33,403 49,452 70,221 71,707 2.1 5.7% share
APEC 57.4 56.3 60.4 55.5 55.8 57.5
APEC 5,188 7,005 7,798 10,291 14,180 14,823 4.5 4.5Non-APEC (b) 2,627 4,016 3,616 5,667 7,432 7,197 -3.2 4.4World 3,666 5,285 5,350 7,548 10,117 10,218 1.0 4.4
APEC 11,297 18,499 25,319 33,947 43,998 46,595 5.9 6.0Non-APEC (b) 10,625 15,776 20,958 27,879 35,288 36,545 3.6 5.6World 21,922 34,275 46,276 61,825 79,286 83,140 4.9 5.8% share
APEC 51.5 54.0 54.7 54.9 55.5 56.0
APEC 5,355 7,538 9,779 12,734 15,930 16,760 5.2 5.1Non-APEC (b) 3,438 4,743 5,735 7,175 8,445 8,624 2.1 4.0World 4,216 5,930 7,412 9,437 11,423 11,847 3.7 4.5
APEC 2,110 2,454 2,589 2,666 2,762 2,780 0.7 0.9Non-APEC (b) 3,090 3,326 3,654 3,885 4,179 4,237 1.4 1.5World 5,200 5,780 6,243 6,551 6,941 7,018 1.1 1.3% share
APEC 40.6 42.5 41.5 40.7 39.8 39.6
Refer to page 28 for footnotes.Source: International Monetary Fund - World Economic Outlook Database , April 2013 and US Census Bureau.
Population (million)
TABLE 11: SELECTED INDICATORS - APEC AND THE WORLD (a)% growth
Gross domestic product (GDP) (US$ billion)
GDP per capita (US$)
GDP PPP (International dollar billion)
GDP per capita PPP (International dollar)
0
5
10
15
20
25
30
35
40
45
50
1996 2002 2006 2011 2012
trillion GDP PPP - International dollar
APEC Non-APEC (b)
0
2
4
6
8
10
12
14
16
18
1996 2002 2006 2011 2012
GDP per capita PPP - International dollar
APEC Non-APEC (b)
- 25 -
trend2011 to 1992 to
1989 1996 2002 2006 2011 2012 2012 2012 (d)
Exports 1,547 3,015 3,604 6,455 10,003 10,295 2.9 8.3Imports 1,599 3,089 3,855 6,749 10,333 10,799 4.5 8.5
Exports 2,251 3,696 4,525 8,580 12,650 12,531 -0.9 8.8Imports 2,337 3,769 4,511 8,478 12,335 12,076 -2.1 8.4
Exports 3,798 6,711 8,128 15,035 22,653 22,827 0.8 8.6Imports 3,936 6,858 8,367 15,226 22,668 22,875 0.9 8.4
Exports 40.7 44.9 44.3 42.9 44.2 45.1Imports 40.6 45.0 46.1 44.3 45.6 47.2
Refer to page 28 for footnotes.Sources: Global Trade Atlas; UN comtrade database; ABS trade data on DFAT STARS database (ABS catalogue 5368.0) and International Monetary Fund - Direction of Trade Statistics & Balance of Payments .
APEC's % share of world total
TABLE 12: TRADE IN GOODS AND SERVICES - APEC AND THE WORLD (a)(US$ billion)
% growth
APEC (b)
Non-APEC (c)
World
0
2
4
6
8
10
12
14
1989 1996 2002 2006 2011 2012
US$ trillion Exports
APEC (b) Non-APEC (c)
0
2
4
6
8
10
12
14
1989 1996 2002 2006 2011 2012
US$ trillion Imports
APEC (b) Non-APEC (c)
- 26 -
% share % growthworld trend (e)
1989 1996 2002 2006 2011 2012 total 92 to 12Australia 48,616 84,992 100,872 167,903 320,527 307,310 1.4 8.6Brunei (g) 1,882 4,272 3,866 7,774 12,398 11,663 0.1 6.9Canada 139,031 231,536 292,892 448,651 532,203 533,911 2.3 6.1Chile 9,853 19,105 21,817 63,714 93,898 89,417 0.4 11.5China 57,518 171,649 365,387 1,061,330 2,075,703 2,241,539 9.2 18.2Hong Kong, China 89,670 217,429 246,769 395,405 573,786 616,827 2.5 6.8Indonesia 27,087 56,414 63,822 112,319 224,187 213,175 1.0 8.1Japan 368,023 478,526 482,844 763,778 969,051 943,950 4.3 4.3Malaysia 27,922 93,358 108,938 182,516 264,149 265,233 1.2 8.4Mexico 30,256 106,727 173,271 265,752 364,866 386,908 1.6 9.3New Zealand 11,294 19,017 19,916 30,571 47,831 47,345 0.2 6.6Papua New Guinea 1,602 3,544 2,832 6,856 12,458 12,310 0.1 8.3Peru 4,324 7,378 9,120 26,425 50,000 43,737 0.2 13.5Philippines 10,980 33,528 38,513 53,854 65,765 70,482 0.3 6.8Republic of Korea 71,796 153,932 193,028 382,307 650,662 658,724 2.9 10.3Russian Federation na 97,529 89,095 257,626 433,915 411,711 1.9 12.6Singapore 54,355 151,970 156,053 338,192 518,378 520,864 2.3 9.3Chinese Taipei 73,462 131,902 152,189 242,276 337,374 333,476 1.5 6.5Thailand 25,647 80,185 83,985 155,189 261,946 277,634 1.2 8.8United States 491,025 862,318 978,757 1,447,499 2,088,033 2,186,030 9.2 5.9Vietnam (f) 2,472 9,706 19,654 44,928 105,597 123,142 0.5 18.4Total APEC (b) 1,546,816 3,015,017 3,603,617 6,454,866 10,002,728 10,295,388 44.2 8.2Other countries (c) 2,250,884 3,695,783 4,524,583 8,579,734 12,649,872 12,531,412 55.8 8.9Total World 3,797,700 6,710,800 8,128,200 15,034,600 22,652,600 22,826,800 100.0 8.6
% share % growthworld trend (e)
1989 1996 2002 2006 2011 2012 total 92 to 12Australia (d) 58,040 86,168 103,981 175,816 293,702 312,898 1.3 8.3Brunei (g) 859 4,072 2,504 3,111 7,782 6,456 0.0 2.7Canada 149,026 206,491 267,318 423,005 557,168 568,702 2.5 6.4Chile 8,979 21,594 19,369 43,212 81,918 85,627 0.4 9.4China 63,053 161,418 341,831 892,627 1,979,498 2,098,548 8.7 17.4Hong Kong, China 82,999 223,085 234,330 372,815 567,710 611,609 2.5 6.5Indonesia 22,883 58,068 48,334 82,459 208,759 225,603 0.9 7.9Japan 303,540 476,850 444,160 714,335 1,023,626 1,062,468 4.5 5.3Malaysia 27,383 96,047 96,208 154,162 225,645 238,996 1.0 6.9Mexico 30,683 100,287 185,926 278,173 380,247 399,940 1.7 8.7New Zealand (d) 11,983 18,515 19,009 32,669 46,193 47,450 0.2 6.9Papua New Guinea (d) 1,876 2,490 1,920 3,743 9,450 11,772 0.0 7.2Peru 3,434 10,637 9,943 18,712 44,244 45,328 0.2 10.0Philippines 12,735 41,407 44,667 58,081 72,511 76,104 0.3 5.8Republic of Korea 70,162 179,938 189,125 379,557 625,482 627,762 2.8 9.8Russian Federation na 63,878 64,251 172,867 368,104 396,712 1.6 12.9Singapore 56,584 153,898 150,065 304,024 480,694 497,884 2.1 8.6Chinese Taipei 66,027 126,860 137,533 234,853 323,092 313,420 1.4 6.2Thailand 29,883 99,792 81,334 161,234 281,436 304,457 1.2 7.7United States (d) 595,867 943,868 1,389,966 2,193,068 2,637,266 2,717,024 11.6 7.5Vietnam (f) 3,032 13,589 23,444 50,022 118,609 150,510 0.5 18.4Total APEC (b) 1,599,027 3,088,953 3,855,217 6,748,545 10,333,134 10,799,269 45.6 8.4Other countries (c) 2,336,573 3,769,447 4,511,483 8,477,555 12,335,166 12,075,731 54.4 8.5Total World 3,935,600 6,858,400 8,366,700 15,226,100 22,668,300 22,875,000 100.0 8.5
Refer to page 28 for footnotes.Sources: Global Trade Atlas; UN comtrade database; ABS trade data on DFAT STARS database (ABS catalogue 5368.0); International Monetary Fund - International Financial Statistics and World Trade Organization online statistics database .
TABLE 13: GOODS AND SERVICES TRADE, BY APEC MEMBER (a)(US$ million)
Exports
Imports
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% share % growthworld trend (e)
Destination 1989 1996 2002 2006 2011 2012 total 92 to 12Australia 27,077 38,375 47,915 90,648 154,987 167,376 2.0 9.3Brunei 774 2,837 1,347 1,468 4,132 4,349 0.1 2.5Canada 93,599 150,526 186,751 279,374 351,393 366,256 4.3 5.8Chile 2,909 8,643 6,148 16,598 38,946 43,504 0.5 10.4China 42,017 129,005 212,069 526,502 1,019,011 1,048,157 12.3 14.9Hong Kong, China 60,183 136,587 165,329 315,180 499,507 555,795 6.5 8.7Indonesia 10,262 29,347 28,203 68,817 148,423 160,101 1.9 11.6Japan 126,973 221,247 212,351 339,420 508,361 512,424 6.0 6.0Malaysia 17,994 63,810 65,721 105,602 161,832 172,351 2.0 7.5Mexico 29,081 64,842 114,505 171,606 262,677 281,040 3.3 8.9New Zealand 5,658 10,006 10,422 18,444 24,728 25,625 0.3 7.1Papua New Guinea 1,305 1,613 1,007 2,015 6,037 7,359 0.1 7.8Peru 1,044 3,392 3,392 6,982 20,768 22,687 0.3 12.0Philippines 9,187 27,904 33,014 47,319 73,180 78,254 0.9 7.8Republic of Korea 44,130 91,704 100,458 189,086 315,560 308,054 3.6 9.4Russian Federation na 10,638 9,501 37,578 80,849 91,080 1.1 14.1Singapore 36,195 92,666 84,679 143,852 214,226 221,255 2.6 6.1Chinese Taipei 36,333 71,501 83,972 140,222 195,194 184,232 2.2 6.4Thailand 17,999 48,825 42,626 82,480 141,094 154,935 1.8 7.9United States 321,745 547,415 740,917 1,137,054 1,336,133 1,396,827 16.3 6.2Vietnam 526 9,303 15,035 36,711 99,511 107,764 1.3 18.1Total APEC (b) 884,980 1,760,185 2,165,554 3,758,874 5,656,548 5,909,423 69.1 8.1European Union 240,109 397,695 462,531 921,102 1,292,528 1,215,928 14.2 7.9Other countries (c) (d) 152,657 280,175 299,525 742,446 1,401,958 1,425,275 16.7 10.7Total World 1,277,745 2,438,055 2,927,440 5,358,143 8,351,034 8,550,626 100.0 8.4
% share % growthworld trend (e)
Source 1989 1996 2002 2006 2011 2012 total 92 to 12Australia 28,586 47,548 49,956 97,454 224,479 222,172 1.9 9.5Brunei 1,820 2,450 3,628 7,456 11,634 11,823 0.1 2.5Canada 105,397 181,305 231,913 339,890 382,434 390,945 4.2 5.8Chile 4,408 9,410 11,128 34,267 55,468 54,481 0.5 10.5China 57,340 198,302 354,249 801,036 1,297,540 1,393,104 12.2 15.1Hong Kong, China 33,205 34,593 35,604 39,694 42,403 51,704 6.4 8.8Indonesia 22,623 42,824 51,837 94,783 167,253 163,749 1.8 11.7Japan 204,719 337,339 346,463 532,120 684,988 689,766 5.9 6.1Malaysia 24,174 72,688 93,191 159,109 241,438 242,362 2.0 7.6Mexico 32,064 82,820 148,454 223,379 315,362 332,032 3.2 8.9New Zealand 6,551 10,919 10,914 15,718 27,350 27,524 0.3 7.2Papua New Guinea 1,036 2,131 1,420 3,477 6,766 6,342 0.1 7.8Peru 1,943 3,149 4,176 15,255 27,171 26,721 0.3 12.1Philippines 7,308 19,436 37,777 59,809 64,671 65,840 0.9 8.0Republic of Korea 47,890 88,729 128,057 260,179 414,767 431,376 3.6 9.6Russian Federation na 18,411 25,061 56,707 124,081 127,155 1.0 14.9Singapore 27,195 73,586 67,803 122,777 180,722 188,673 2.6 6.4Chinese Taipei 54,661 112,295 130,763 231,792 313,872 324,378 2.1 6.5Thailand 13,915 43,578 54,820 105,434 171,286 173,863 1.8 8.1United States 226,050 429,404 452,398 624,054 851,972 887,978 16.2 6.5Vietnam 772 4,717 10,910 29,316 67,078 87,624 1.2 18.3Total APEC (b) 901,668 1,815,633 2,250,380 3,853,879 5,672,734 5,899,614 68.5 8.2European Union 214,949 402,712 492,384 791,282 1,152,423 1,189,353 14.5 8.1Other countries (c) (d) 186,805 299,828 416,238 1,034,767 1,892,111 1,987,414 17.0 10.8Total World 1,303,422 2,518,173 3,159,146 5,673,582 8,717,268 9,076,382 100.0 8.6
Refer to page 28 for footnotes.Sources: Global Trade Atlas; UN comtrade database; ABS trade data on DFAT STARS database (ABS catalogue 5368.0) and International Monetary Fund - International Financial Statistics.
TABLE 14: INTRA-APEC MERCHANDISE TRADE (a)(US$ million)
APEC's exports to
APEC's imports from
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Table 11(a) Includes all APEC members as at 2012, except the Russian Federation from 1989 to 1991.(b) Includes the Russian Federation from 1989 to 1991.(c) Trend growth has been calculated from 1992 to 2012 as the Russian Federation cannot be included under APEC for 1989 to 1991.PPP - Puchasing power parity in international dollars.
Table 12(a) Goods on recorded trade basis, services trade on balance of payments basis.(b) Includes all APEC members as at 2012, except the Russian Federation from 1989 to 1991.(c) Includes the Russian Federation from 1989 to 1991.(d) Trend growth has been calculated from 1992 to 2012 as the Russian Federation cannot be included under APEC for 1989 to 1991.
Table 13(a) Goods on recorded trade basis, services on a balance of payments basis. (b) Includes all APEC members as at 2012, except the Russian Federation from 1989 to 1991.(c) Includes the Russian Federation from 1989 to 1991.(d) f.o.b. basis. (e) Trend growth has been calculated from 1992 to 2012 as the Russian Federation cannot be included under APEC for 1989 to 1991.(f) Goods only for 1989 (services data not available) (g) Goods only for 2012 (services data not available)
Table 14(a) Goods on recorded trade basis. (b) Includes all APEC members as at 2012, except the Russian Federation from 1989 to 1991.(c) Includes the Russian Federation from 1989 to 1991.(d) Includes confidential items of trade.(e) Trend growth has been calculated from 1992 to 2012 as the Russian Federation cannot be included under APEC for 1989 to 1991.
Footnotes for tables as listed
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Technical appendices
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Appendix A Explanatory notes
Introduction
The APEC Region: Trade and Investment provides summary data on both Australia's trade and investment relationships with APEC members as well as APEC members’ trade with the world (including intra-regional trade).
This publication is divided into three sections.
Section 1 – Australia’s trade and investment with APEC – summarises Australia's bilateral relationships with the APEC region for the three year period between 2010 and 2012. It covers merchandise and services trade, as well as investment flows and stocks.
Section 2 – APEC statistical tables – presents selected economic indicators, trade in goods and services and statistics on intra- and extra-regional trade from 1989, focussing mainly on shifts in both levels and market shares during the three year period between 2010 and 2012.
Section 3 – Technical appendices
In Section 1, all values are presented in Australian dollar terms. In Section 2, all values are presented in US dollars unless otherwise specified.
APEC members
APEC has 21 members. The word 'economies' is used to describe APEC members because the APEC cooperative process is predominantly concerned with trade and economic issues, with members engaging with one another as economic entities. The list of members and dates of admission are given below:
• 6-7 November 1989: Australia; Brunei; Canada; Indonesia; Japan; Republic of Korea; Malaysia; New Zealand; Philippines; Singapore; Thailand; United States (incl Puerto Rico and the US Virgin Is.);
• 12-14 November 1991: People’s Republic of China; Hong Kong, China; Chinese Taipei;
• 17-19 November 1993: Mexico; Papua New Guinea;
• 11-12 November 1994: Chile; and
• 14-15 November 1998: Peru, Russian Federation, Vietnam.
Although not members of APEC, Puerto Rico and the US Virgin Islands have been included in the APEC United States’ total as they are regarded by the United States as part of its customs zone. When the United States reports its total exports it includes exports from these two self governing territories. This change was made to make Australian and United States data more consistent.
Revisions to data
Statistics used in this publication are derived from a number of sources. International data are provided from: the Global Trade Atlas; UN comtrade database; IMF publications International Financial Statistics, Balance of Payments and Direction of Trade; Australian Bureau of Statistics (ABS) data on the DX database; and a range of country-specific publications.
Please note: the latest year’s trade data in the IMF publication Direction of Trade is usually subject to significant revisions in subsequent issues.
Australian trade data are derived by the ABS from information provided to the Australian Customs and Border Protection Service by exporters and importers. ABS editing procedures frequently lead to revisions of previously published trade data. Revisions may occur for up to six months after the period when data are first published. Figures in this publication contain all amendments made by the ABS to June 2013.
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Confidential data
Merchandise trade
To avoid divulging commercially-sensitive details of individual firms, the ABS restricts release of statistics on certain commodities. Such details are aggregated into a 'dump' item (code 988) in most tables. It is worth noting that commodities are frequently added to the confidential list, e.g. as sugar was in January 1998. In such cases the value shown for trade in aggregates containing these items will show a decrease — there will be a corresponding increase in the confidential item.
Significant confidential Australian export commodities to APEC economies included: Alumina (aluminium oxide); Cane sugar; Mineral sands; Natural gas; Nickel mattes; Nickel alloys unworked; and Uranium ores. Significant confidential imports from APEC economies included imports of Aircraft & parts. For more details regarding the impact of confidentiality on ABS merchandise trade statistics please refer to the DFAT publication Composition of Trade.
Services trade
To avoid divulging commercially-sensitive details of individual firms, the ABS restricts release of statistics on certain services activities.
The ABS uses perturbation to confidentialise trade in services statistics. Using the perturbation methodology, the data will be perturbed, that is, have noise added to protect the confidential cells. For example, if a cell was deemed to be confidential the ABS would subtract a small amount from another cell or cells, to add to the confidential cell, to ensure that confidentiality was not breached. In most cases the level of perturbation is not significant and should have minimal impact on the analysis of trade in services data.
Commodity classification
Balance of payments
Australia’s Balance of Payments (BOP) statistics are compiled in accordance with the latest international standards determined by the International Monetary Fund, and published in Balance of Payments Manual, Sixth edition, 2008 (BPM6).
The BOP basis can differ from a recorded trade basis in terms of coverage, valuation and timing. Goods and services trade are based on market price for both credit (export) and debit (import) entries. The timing of these transactions is based on change of ownership of the good or service between residents and the non-resident. However, in the case of goods the majority of goods trade is based on timing and valuation as recorded in Australian Customs statistics for practical purposes of data collection.
Balance of payments - services
Australia's BOP defines services as comprising services provided between Australian residents and non-residents, together with some transactions in goods where, by international agreement, it is not practical to separate the goods and services components (e.g. goods purchased by travellers are classified to services).
Services delivered to non-residents through a foreign branch or subsidiary, for example, services rendered to an Asian company by a branch office of an Australian legal firm in Bangkok, are not defined as a BOP transaction. However, services delivered by a parent company to a foreign-resident subsidiary are defined as international services. Any profits or dividends remitted between an enterprise in Australia and a related enterprise abroad are regarded as an income transaction, not as a service in Australia’s BOP.
Australia’s BOP statistics are compiled in accordance with the latest international standards determined by the International Monetary Fund, and published in Balance of Payments Manual, Sixth edition, 2008 (BPM6).
The ABS Extended Balance of Payments services classification (EBOP) is based on the UN publication Manual on Statistics of International Trade in Services. This is an extended services classification that is fully compatible with the BPM6.
In this classification, services commodities are broken down into 12 major groups: Manufacturing services on physical inputs owned by others; Maintenance & repair; Transport; Travel; Construction; Insurance & pension; Financial; Charges for the use of intellectual property; Telecommunication, computer & information; Other
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business; Personal, cultural & recreational; and Government services and around 60 detailed services commodities.
In this publication the broad services category Other services includes: Construction; Insurance & pension; Financial; Charges for the use of intellectual property; Telecommunication, computer & information; Other business; Personal, cultural & recreational and Government services.
Recorded trade – goods (merchandise trade)
The data on merchandise trade in this publication are measured on a recorded trade basis, based upon quantities and values of goods measured as they cross the Australian Customs frontier. These data can differ from data presented under the balance of payments basis in terms of coverage, valuation and timing.
In this publication, trade is disaggregated by two classifications: the merchandise TRade Import and Export Classification (TRIEC); and the Standard International Trade Classification, Revision 4 (SITCr4).
TRIEC was developed by the Department of Foreign Affairs and Trade to group exports and imports according to their level of processing. The broad levels of the TRIEC are: Primary products; Manufactures—divided into Simply transformed (STM) and Elaborately transformed; (ETM)—and Other goods (mainly gold and confidential items).
ETM are effectively defined as those products with unique features which permit their identification as differentiated products on world markets (i.e. ‘finished goods’) and comprise the major component of world manufactures trade.
More detailed statistics of exports and imports classified by TRIEC are presented in our publication Trade in Primary and Manufactured Products.
Data in this publication which have been classified according to SITCr4 are shown at the Group (3-digit) level. There are 270 categories at this level.
In Section 1, Australian merchandise data are valued as follows:
Exports: Valued at the free-on-board (f.o.b.) basis at the Australian port-of-shipment. Charges for distributive services provided beyond the customs frontier are not included (e.g. international freight and insurance charges).
Imports: Valued at the Australian Customs Value for Australian data. This is based on the price actually paid, provided the buyer and seller are independent, on a f.o.b. basis, i.e. charges and expenses involved in delivering the goods from the place of exportation to Australia are excluded.
Unless otherwise specified, international trade data in Section 2 present imports on a cost-insurance-freight (c.i.f.) basis, and exports on a free-on-board (f.o.b.) basis.
Country
For exports, country or economy refers to the final destination reported by exporters. It is understood, however, that exporters may not know the country or economy of final destination of their goods at the time they are shipped. This applies particularly to goods directed through entrepôts such as Singapore, Hong Kong, and major European ports, with a consequent overstating of Australia's exports to these countries or economies and corresponding understatement of exports to countries "down stream" from them.
For imports, 'country' refers to the country of origin of the goods, which is defined as the country of production for Customs purposes.
The European Union comprises: Austria; Belgium; Bulgaria; Croatia; Cyprus; Czech Republic; Denmark; Estonia; Finland; France; Germany; Greece; Hungary; Ireland; Italy; Latvia; Lithuania; Luxembourg; Malta; Netherlands; Poland; Portugal; Romania; Slovak Republic; Slovenia; Spain; Sweden and the United Kingdom.
Intra-regional trade
Intra-regional trade is derived from the the Global Trade Atlas, the UN Comtrade database and the International Monetary Fund's Direction of Trade.
The value of exports to country A from country B will generally not be equal to the value of imports from country A to country B.
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This is due to the difficulties in reconciling trade statistics between countries. Major discrepancies often arise in the values recorded independently by the exporting and importing countries. This can be due to a number of reasons:
• Valuation of transactions often varies. Australia, as noted previously, values both exports and imports on an f.o.b. basis. Many other countries include the cost of freight and insurance in the value of their imports, but not in the value of their exports;
• Exchange rates can vary daily and often fluctuate significantly during the year. In many cases, a third currency (often US dollars) may be used to denominate transactions. Where this occurs the import and export values of the same transaction may be converted back to domestic currencies at different times and at different exchange rates.
Purchasing Power Parity (PPP) GDP in international dollars
This measure is GDP converted to international dollars using purchasing power parity. An international dollar has the same purchasing power that the US dollar has in the United States at a given point in time. The International Monetary Fund and the World Bank favour this measure for accurate measurement of poverty and well-being; in effect, it substitutes global prices for local measured prices, thereby more accurately reflecting the real value of the good or service in question. It is used to make comparisons both between countries and over time.
Total trade Total trade is the sum of exports and imports. This is a useful measurement of the overall trading relationship between Australia and its trading partners. Total trade data is useful in ranking Australia’s major trading partners, without a bias towards ranking only the larger export markets, or the larger import sources.
Balance of trade The balance of trade is the difference between exports and imports. When exports exceed imports this is referred to as a trade surplus, when imports exceed exports this is referred to as a trade deficit.
Trend growth rates
Trend growth is derived by log-linear regression using the least squares method. It is a more robust measure than the ‘average’ annual growth rate as it takes account of all observations and, as such, is less likely to be affected by the end points of a given period.
International investment position (IIP)
Australia’s IIP is a closely related set of statistics to BOP. IIP is a balance sheet of the stock of foreign financial assets and liabilities at a point in time. The IIP may be viewed more broadly as a reconciliation statement showing the levels of Australia’s international assets and liabilities at two points of time and the components of change namely flows and other changes (such as price changes, exchange rate movements and other adjustments).
For more information concerning the definitions and classifications used by the ABS in the compilation of BOP and IIP statistics, please refer to the ABS publication Balance of Payments and International Investment Position, Australia, Concepts Sources and Methods 1998 (ABS catalogue 5331.0).
The publication was compiled mainly by Julie-Anne Andrew.
If you want to know more about these statistics or about other trade and economic publications produced by DFAT, please email [email protected].
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Appendix B Abbreviations and symbols used in all DFAT
trade statistical publications
.. not meaningful
$b $ billion
$m $ million
ABARES Australian Bureau of Agricultural & Resource Economics & Sciences
ABS Australian Bureau of Statistics
adp automatic data processing
agric agricultural
AHECC Australian Harmonized Export Commodity Classification
alum aluminium
ANZSIC06 Australia and New Zealand Standard Industry Classification 2006
APEC Asia Pacific Economic Cooperation
bev beverage
BOP Balance of Payments
BPM5 IMF Balance of Payments Manual 5th Edition
BPM6 6th Edition
BREE Bureau of Resources & Energy Economics
chem chemical
c.i.f. cost, insurance and freight
comp compounds
conc concentrates
confid confidential
constr construction
consump consumption
cont. continued
cool cooling
Curr Acc Current Account
CVM chain volume measure
Dem Democratic
DFAT Department of Foreign Affairs and Trade
distrib distributing
EBOP The ABS Extended Balance of Payments services classification
elec electric, electrical
elem elements
ELICOS English Language Intensive Courses for Overseas Students
eng engineering
equip equipment
etc etcetera
ETM Elaborately transformed manufactures
EU European Union
excl excluding
f.c.f. fresh, chilled or frozen
Fed Federation
ferr ferrous
FISIM Financial Intermediation Services Indirectly Measured
f.o.b. free on board
GDP Gross Domestic Product
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hand handling
HTISC Harmonized Tariff Item Statistical Code
HS Harmonized Commodity Description and Coding System
ICT Information, Communication and Technology
IIP International Investment Position
IIS (ABS) international Investment Survey
IMF International Monetary Fund
IMF IFS International Monetary Fund, International Financial Statistics
IMF WEO International Monetary Fund, World Economic Outlook
incl including
Ind Independent
IP Intellectual property
Is Island/s
instr instruments
insul insulated
interm intermediate
Int’l Waters International Waters
IPD implicit price deflator
IVS International Visitors Survey
mach machinery, machines
manuf manufactured, manufactures
medic medicaments
misc miscellaneous
mmf man-made fibres
MSITS Manual on Statistics of International Trade in Services
na not available
ncd no country details
nec not elsewhere classified
nei not elsewhere indicated
nfd not further defined
nie not indicated elsewhere
nes not elsewhere specified
np not published
Nth North
nya not yet available
OECD Organisation for Economic Cooperation and Development
pharm pharmaceutical
photo photographic
PPP Purchasing Power Parity
prec precious
prep preparations, prepared
pres preserved
proc processing
prod products
Rep Republic
SAR of China Special Administrative Region of China
SITC Standard International Trade Classification
SITS Survey of International Trade in Services
spec specifically
Sth South
STM Simply transformed manufactures
struct structures
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synth synthetic
TCI Telecommunications, computer & information
telecom telecommunications
TREC Trade Export Classification
TRIEC Trade Import and Export Classification
transport transportation
TSA Tourism Satellite Account
TWI Trade Weighted Index
UN United Nations
UNCTAD United Nations Conference on Trade and Development
unmanuf unmanufactured
USDA United States Department of Agriculture
veg vegetables
WTO World Trade Organization
yoy year on year
THE APEC REGION TRADE AND INVESTMENT