CHINA
China is Australia's largest two-way trading partner, accounting for 27 per cent of our goods and services trade with the world in 2023. Two-way trade with China increased 9.2 per cent in 2023, totalling $326.9 billion.
Australia’s goods and services exports to China totalled $218.8 billion in 2023, up 18.2 per cent compared to 2022. Services exports were up 53.4 per cent in the same period, largely due to the return of tourists and students. Increased engagement between Australia and China has led to positive developments in the trade relationship, including the removal of many Chinese trade impediments that had affected Australian exports since 2020.
Chinese investment in Australia is a highly valued part of the bilateral relationship. China is the fifth-largest foreign direct investor in Australia (investment stock worth $46,6 billion in 2023), accounting for 4.0 per cent of total foreign direct investment (FDI). In recent years, Chinese investment has broadened from mainly mining to other sectors including infrastructure and healthcare. Australian FDI in China totalled $2.2 billion in 2023.
Strong economic complementarities continue to underpin our mutually beneficial trade and Australian businesses continue to successfully enter the Chinese market.
More government trade information: China country brief | Australian Government Department of Foreign Affairs and Trade (dfat.gov.au)
