EU-Australia Economic Relationship

May 2010

EU still Australia's largest trading partner in services

Data released by the Australian Bureau of Statistics on 14 May 2010 revealed that the EU remained Australia's largest trading partner in services in 2009, representing 19 per cent, or A$20.3 billion of Australia 's total services trade, ahead of the ASEAN economies, the United States and China . The EU was the most important export market for Australian services, worth A$8.6 billion last year, while it was also Australia 's largest supplier of services, at A$11.7 billion. While the global economic downturn contributed to the value of two-way services trade between the EU and Australia falling by 3.1 per cent from 2008, services continue to form an important component of the EU-Australia trade relationship, comprising 26 per cent of total bilateral trade in 2009.

EU-Australia services trade is dominated by travel activity, with two-way trade totalling A$10.4 billion in 2009. Other major sectors include transportation and professional, technical and other business services (broadly comprising legal, accounting, architectural and engineering services).

Source: Australian Bureau of Statistics (5368.0.55.004)

For more information on the EU-Australia economic relationship contact:

Trade and Economic Section
Phone +61 2 6271 2777
Email delegation-australia@eeas.europa.eu