![]() In June 2023, the decrease in South Korea's year-by-year imports from Australia was explained primarily by an decrease in product imports in Aluminum articles ($-6.77M or -8.48%), Inorganic chemicals ($-3.56M or -39.9%), and Edible fruits, nuts & fruit peels ($-1.03M or -40.7%). Growth In June 2023, the decrease in South Korea's year-by-year exports to Australia was explained primarily by an decrease in product exports in Railway and trams ($-15.9M or -99.2%), Inorganic chemicals ($-4.81M or -62.8%), and Rubber & articles thereof ($-2.53M or -22.8%). ($2.46B), Ores, slag and ash ($697M), Meat & edible offal ($221M), Precious stones, metals, & pearls ($149M), and Aluminum articles ($73.1M). In June 2023 the top imports of South Korea from Australia were Mineral fuels, mineral oils and products. ($229M), Pharmaceutical products ($99.3M), Iron & steel ($76.1M), and Electrical machinery and electronics ($51.4M). ![]() ($345M), Cars, tractors, trucks & parts thereof. Trade In June 2023, the top exports of South Korea to Australia were Mineral fuels, mineral oils and products. Between June 2022 and June 2023 the exports of South Korea have decreased by $-250M (-15.8%) from $1.58B to $1.33B, while imports decreased by $-1.24B (-33%) from $3.74B to $2.51B. Here’s a List of Australia’s Top Exports and Value as of 2018: Iron ore and other ores (38.8 billion23. Overview In June 2023, South Korea exported $1.33B and imported $2.51B from Australia, resulting in a negative trade balance of $1.18B. That same year, Australia ranked 82 in the Economic Complexity Index (ECI -0.41), and 20 in total exports ($343B). In 2009, Australia exported services to South Korea worth $1.45B, with Travel ($1.35B), Transportation ($53M), and Other business services ($11.9M) being the largest in terms of value.Ĭomparison In 2021, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). During the last 26 years the exports of Australia to South Korea have increased at an annualized rate of 6.74%, from $5.4B in 1995 to $29.4B in 2021. The British colonisation of Australia began in 1788, and waves of multi-ethnic migration followed. The main products that Australia exported to South Korea were Iron Ore ($7.92B), Coal Briquettes ($6.93B), and Petroleum Gas ($5.05B). The culture of Australia is primarily a Western culture, originally derived from Britain but also influenced by the unique geography of Australia and the cultural input of Aboriginal, Torres Strait Islander and other Australian people. open up new industries and resources regions. It includes a 5 point action plan to: deliver the most globally attractive and competitive investment destination for resources projects. In 2005, South Korea exported services to Australia worth $488M, with Transportation ($252M), Travel ($111M), and Other business services ($79.8M) being the largest in terms of value.Īustralia-South Korea In 2021, Australia exported $29.4B to South Korea. The National Resources Statement sets out the government’s policy and long-term reform agenda for the Australian resources sector. During the last 26 years the exports of South Korea to Australia have increased at an annualized rate of 7.03%, from $1.66B in 1995 to $9.7B in 2021. The main products that South Korea exported to Australia are Refined Petroleum ($3.32B), Cars ($2.36B), and Self-Propelled Rail Transport ($231M). South Korea-Australia In 2021, South Korea exported $9.7B to Australia.
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