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

1. Japan $6.62bn
2. Republic of Korea $2.51bn
3. USA $2.40bn
4. Thailand $2.25bn
5. UK $1.51bn
6. Africa $524,774
7. Spain $339,645
8. Italy $263,455
9. Belgium $161,618
10. India $85,134

Australia’s top 10 merchandise imports

1. Passenger motor vehicles $21.54bn
2. Refined petroleum $16.21bn
3. Telecom equipment and parts $11.78bn
4. Computers $7.82bn
5. Medicaments (including veterinary) $7.71bn
6. Crude petroleum $7.61bn
7. Goods vehicles $7.35bn
8. Gold $6.04bn
9. Heating and cooling equipment and parts $5.08bn
10. Furniture, mattresses and cushions $4.45bn