Australia increasingly reliant on China’s demand for iron ore
Escalating political tensions between Canberra and Beijing have done little to dampen the value of exports, with China accounting for more than 40 per cent of goods shipped in May, on the back of record demand for iron ore.
The latest economic chart pack from the Reserve Bank shows a striking lack of diversity in Australia’s trade ties and highlights an increasing dependence on iron ore sales to China.
China made up about 10 per cent of goods and services exports in 2005, well behind Japan, before spiking to 25 per cent at the height of the last mining boom and continuing to climb above 35 per cent this year.
Source: Australian Financial Review #Jul11
https://www.afr.com/policy/economy/australia-increasingly-reliant-on-china-s-demand-for-iron-ore-20210711-p588n5
#China #Australia #Iron #Ore #Export
Escalating political tensions between Canberra and Beijing have done little to dampen the value of exports, with China accounting for more than 40 per cent of goods shipped in May, on the back of record demand for iron ore.
The latest economic chart pack from the Reserve Bank shows a striking lack of diversity in Australia’s trade ties and highlights an increasing dependence on iron ore sales to China.
China made up about 10 per cent of goods and services exports in 2005, well behind Japan, before spiking to 25 per cent at the height of the last mining boom and continuing to climb above 35 per cent this year.
Source: Australian Financial Review #Jul11
https://www.afr.com/policy/economy/australia-increasingly-reliant-on-china-s-demand-for-iron-ore-20210711-p588n5
#China #Australia #Iron #Ore #Export