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EU trade with Australia

EU trade with Australia

EU trade with Australia

The trade relationship between the EU and Australia is asymmetrical despite both having highly developed economies. With a share of 1.3 %, Australia was the EU’s 19th largest goods trading partner in 2016. By comparison, the EU’s share in Australia’s trade in goods was the second largest, 14.9 %, behind China. In 2016, the value of the total trade in goods between the EU and Australia amounted to approximately €45 billion (see Figure 1). Around 87 % of EU exports to Australia were manufactured goods, including machinery and transport equipment and chemicals (46.3 % and 20.3 % of total exports, respectively). Primary products accounted for 40.2 % and manufactured goods for 20 % of EU imports from Australia. Imported products included 25.1 % fuels and mining products and 15.1 % agricultural products. In 2016, Australia was the third-largest hard coal exporter to the EU, with a share of 15.8 %.

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