For the second consecutive year, vehicles were Australia’s most valuable imports.
The Department of Foreign Affairs and Trade’s Composition of Trade Australia 2015-16 revealed that imports of passenger motor vehicles were worth $21.5 billion over the year, following an increase of 15.1 per cent in the previous year.
Cars accounted for 7.9 per cent of Australia’s merchandise imports for the year and showed a five-year increase of 7.4 per cent.
One other key statistic is that Australian passenger motor vehicle exports to New Zealand have decreased from 305,277 vehicles in 2013/14 to 274,775 in 2014/15 and further slowed down to 235,874 for 2015/16.
Australia’s top passenger car import sources
- Japan $6.62bn
- Republic of Korea $2.51bn
- USA $2.40bn
- Thailand $2.25bn
- UK $1.51bn
- Africa $524,774
- Spain $339,645
- Italy $263,455
- Belgium $161,618
- India $85,134
Australia’s top 10 merchandise imports
- Passenger motor vehicles $21.54bn
- Refined petroleum $16.21bn
- Telecom equipment and parts $11.78bn
- Computers $7.82bn
- Medicaments (including veterinary) $7.71bn
- Crude petroleum $7.61bn
- Goods vehicles $7.35bn
- Gold $6.04bn
- Heating and cooling equipment and parts $5.08bn
- Furniture, mattresses and cushions $4.45bn