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Description

This publication is part of a set of trade statistical publications released annually by DFAT. It presents statistical data describing the composition and direction of Australia's services trade.

Data partly sourced from official ABS data and includes details of the composition and direction of Australia's overall service trade and global trade in services. Performance figures are listed by service type, country and region, with separate trade statistics sections devoted to areas such as travel, education, direct investment, and information, communication and technology. The report includes state and territory data.

Key points:

Australia’s trade in services for 2017-18

  • The value of total trade in services increased 8.2 per cent to $181.1 billion in 2017-18. Total trade in services accounted for 22.7 per cent of Australia’s total trade in goods and services. In 2017-18, the share was higher than the average over the past 5 years (22.2 per cent).
  • The balance of trade in services recorded a deficit of $5.0 billion, up $2.2 billion from a $2.8 billion deficit in 2016-17.

Australia’s composition of services trade

  • The value of services exports rose 7.0 per cent to $88.0 billion (while in volume terms exports rose 5.5 per cent). Services exports as a share of GDP continues to grow, and was 4.8 per cent in 2017-18. Rises were recorded in Education-related travel services—up 15.5 per cent or $4.3 billion; Telecommunications, computer & information services—up 25.2 per cent or $841 million Financial services—up 15.5 per cent or $613 million; and Professional & management consulting services—up 5.4 per cent or $266 million. These rises were partly offset by decreases in Business travel–down 8.6 per cent or $262 million and Technical, trade-related and other business services–down 5.5 per cent or $250 million in 2017-18.
  • Imports of services increased 9.4 per cent to be valued at $93.0 billion (and rose 7.5 per cent in volume terms). Services imports as a share of GDP has remained stable in recent years, and was 5.0 per cent in 2017-18. Increases occurred in Other personal (excluding education-related) travel services—up 12.6 per cent or $4.8 billion; Freight—up 11.9 per cent or $1.0 billion; Telecommunications, computer & information services—up 18.9 per cent or $674 million; Professional & management consulting services— up 8.5 per cent or $519 million and Technical, trade-related and other business services, up 9.2 per cent or $435 million. There were no significant falls in any of the major services categories in 2017-18.

 

Publication Details
Publication Year:
2019