TisThe line graph illustrates the proportion of total Australian export traded to four distinct regions – Japan, the US, China and India – over 22-year period from 1990 to 2012.
Overall, the period withnessed a dramatic shift in Australia’s primary export market. China experienced an exponential growth to be the dominent destination for Australian goods by a wide margin, whereas Japan and the US followed generally downward trajectory. India, despite starting at a negligible level, showed modest growth over the timeframe.
In 1990, Japan was by far Australia’s largest export markets, accounting for 26% of total trade, followed by the US at 11%. However, Australian shipments to Japan fell steadily over the next decade before stabilizing at around 17% to 18% between 2000 and 2012. Similarly, the percentage of exports to the US fluctuated slightly, peaking again at 11% in 2000, before declining to an all-time low of 5% in 2010 and recovering slightly to 7% by the end of the period.
Conversely. China began as a minor trading partner in 1990, receiving a mere 2% of Australia’s exports. This figure grew marginally to 5% by 2000, after which it experienced a massive surge, overtaking Japan around 2007 and peaking at 28% in 2012. India followed somewhat similar but much less pronounced upward trend; its share remained flat at 1% until 2000, rose steadily to peak at 7% in 2010, and then ticked down slightly to 5% in 2012.