By the numbers: Australian trade with China

As businesses at home and abroad are preparing to celebrate the Lunar New Year, here are some notable facts and figures regarding Australia’s relationship with major trading partner China.

1: China is Australia’s largest two-way trading partner, accounting for a third of Australian trade globally.

5: The dragon is the fifth number in the Chinese zodiac system, following the rabbit, and preceding the snake. Australia is also China’s fifth-largest source of imports, behind Taiwan, the Republic of Korea, Japan, and the United States.

5.9%: Chinese food prices fell 5.9% over the year to January 2024, new data shows, sparking fears of softening consumer demand in China’s post-lockdown recovery.

7: How many years between Albanese’s November trip to China and the previous visit by a sitting PM. That was former Prime Minister Malcolm Turnbull, who attended in 2016.

11: The number of Australian businesses highlighted by SmartCompany in 2022 for their exceptional forays into the Chinese market.

30: Years since Catherine Cervasio founded Aromababy, a natural skincare brand that has enjoyed significant success in the Chinese market. Cervasio has now become a leading voice for local SMEs considering their own forays into China.

200%: The tariff imposed on imported Australian wines by the Chinese government in 2020, as part of a broader trade dispute between the two nations. Trade Minister Don Farrell says he is confident the wine restrictions will be lifted early this year.

250: Approximately how many Australian businesses exhibited at CIIE 2023, marking a record Aussie contingent at the trade fair.

$500 million: The unofficial estimated value of deals penned by Australian exhibitors over the CIIE trade fair, according to the Australia China Business Council.

$1.2 billion: The value of Australia’s annual wine exports to China before the Chinese government imposed tariffs on Australian wine.